Cuepacs negotiating with LPPSA to reduce 'wakalah' rate
Last update: 06/12/2019
Datuk Azih Muda
KOTA KINABALU, Dec 6 -- The Congress of Unions of Employees in Public and Civil Services (Cuepacs) is currently negotiating with the Public Sector Home Financing Board (LPPSA) to reduce the ‘wakalah’ rate charged to civil servants who purchase houses via financing from the board, for home insurance.
Cuepacs president Datuk Azih Muda said the discussions to determine the rate charged by LPPSA had entered the third and fourth series.
"We strongly hope the wakalah rate is reduced from 49 per cent to at least 25 per cent, which includes insurance provision for LPPSA and their agents," he told Bernama after a Cuepacs event at the Sabah State Library here, today.
Azih said with the current high cost of living, it was hoped that LPPSA could reduce the high rate.
On June 26, Cuepacs called on LPPSA to lower the charges for home insurance management, which was a burden to civil servants.