The Malaysian Trades Union Congress (MTUC) will go ahead with its May 12 picket despite meeting with the Human Resource Minister today to discuss issues raised in the latter's memorandum to the Employees Provident Fund (EPF).

"Today's meeting changed nothing, so we don't see a reason to review the decision to picket. As far as our demands to the EPF are concerned, we are not asking for something impossible.

"We will go ahead and prepare for our picket," MTUC secretary-general G Rajasekaran told malaysiakini today.

Last Friday, MTUC had met with EPF and submitted a nine-page memorandum that called for, among others:

- The abolishment of the annuity scheme which provides workers' pensions through private insurance companies;

- The reduction of death and incapacitation benefits for workers which was reduced from RM30,000 to RM2,000; and

- Maintaining employee contribution to the EPF at 11 percent and requiring them to fill out forms only when they wish to contribute less.

Malaysiakini yesterday reported Rajasekaran as saying that the MTUC picket would proceed if the government could not fulfill any of its demands. MTUC made the decision to picket last month.

Consensus reached

However, Human Resources Minister Fong Chan Onn told reporters today after the meeting that the EPF and MTUC had reached a consensus on employee EPF contributions with both sides agreeing that paperwork on the matter would be simplified.

"There are three issues and I think both sides have reached a consensus on at least one issue. Both sides agreed with simplifying the procedure to let the workers choose to have either nine, 10 or 11 percent deductions.

"For the remaining two issue, firstly the annuity scheme and secondly the incapacitation benefits, I have presented a compromise plan for both sides and I will ask my officers to get back to the EPF. Hopefully they can come up with a formula that will be acceptable to both sides," said Fong.

When asked about the MTUC's demand on more transparency in EPF's investment policy, he said that those issues would be addressed at a later date after the three main ones are dealt with.

Asked if the MTUC picket would go ahead, Fong said the decision remained in the hands of MTUC.

"It's up to MTUC to make a decision, but the fact that we are talking means that there is a possibility of a resolution. We will proceed ahead with getting both sides closer," said the minister.