KUALA LUMPUR: The Employees Provident Fund (EPF) has announced a series of policy and product enhancements to\u00a0strengthen\u00a0retirement adequacy, expand social\u00a0protection coverage\u00a0and enhance\u00a0the overall member experience.<\/p>\n
Among the key initiatives is the increased haj\u00a0withdrawal\u00a0limit from RM3,000 to RM10,000 from\u00a0Akaun Sejahtera to assist members.<\/p>\n
\u201cThe requirement to verify balances in members\u2019 Tabung Haji savings accounts\u00a0to determine the eligible withdrawal amount will be removed, thereby simplifying the application process and enabling members to plan their haj more effectively,\u201d EPF said in a statement, Bernama reported.<\/p>\n
In addition, EPF is introducing i-Saraan Plus, a voluntary contribution facility specifically for e-hailing and p-hailing drivers, with a higher government matching incentive\u00a0of up to RM600 annually, subject to a lifetime cap of RM6,000.<\/p>\n
At the same time, the eligibility age for i-Suri will be extended from 55 to 60, while the government\u2019s matching incentive will be continued at 50% of annual contributions, subject to a yearly cap of RM300, and a lifetime cap of RM3,000.<\/p>\n
EPF also announced that the Retirement Income Adequacy (RIA) Framework will come into effect today with three savings tiers \u2013 Basic Savings (RM390,000),\u00a0Adequate Savings (RM650,000) and Enhanced Savings (RM1.3mil) \u2013 as\u00a0guidance for retirement planning.<\/p>\n
In line with the Enhanced Savings level, EPF will enhance its withdrawal policy for savings exceeding RM1mil, allowing\u00a0members aged below 55 to have flexibility to manage excess funds after meeting retirement needs.<\/p>\n
The increase of the excess savings limit that can be withdrawn will be implemented gradually at RM100,000 every year over three years, starting from\u00a0RM1.1mil in 2026.<\/p>\n
Concurrently, the eligibility threshold for the Members Investment Scheme (MIS) will be aligned with the Basic Savings level.<\/p>\n
The\u00a0minimum savings quantum for MIS eligibility will be revised in stages to ensure that excess funds used for investment\u00a0do not affect members\u2019 basic retirement needs.<\/p>\n
To encourage voluntary \u00adsavings, EPF is also introducing i-\u00adSimpan for self-contribution and i-\u00adTopup for voluntary excess contributions (amounts exceeding the statutory rate) to\u00a0complement\u00a0existing contribution facilities such as i-Saraan, i-Sayang and i-Suri.<\/p>\n
Further details on these initiatives are available in the FAQs on the EPF website at\u00a0www.kwsp.gov.my.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"KUALA LUMPUR: The Employees Provident Fund (EPF) has announced a series of policy and product enhancements to\u00a0strengthen\u00a0retirement adequacy,…\n","protected":false},"author":2,"featured_media":211193,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[128385,44640,138,8611,38731,246,128387,128388,128389,111,139,69,244,245,128386,4578],"class_list":{"0":"post-211192","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-akaun-sejahtera","9":"tag-budget-2026","10":"tag-business","11":"tag-contribution","12":"tag-epf","13":"tag-finance","14":"tag-haj-withdrawal","15":"tag-i-saraan-plus","16":"tag-i-suri","17":"tag-new-zealand","18":"tag-newzealand","19":"tag-nz","20":"tag-personal-finance","21":"tag-personalfinance","22":"tag-product-enhancements","23":"tag-savings"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/211192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=211192"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/211192\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/211193"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=211192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=211192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=211192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}