The Employees Provident Fund (EPF) has announced several policy and product enhancements, effective today, aimed at strengthening retirement savings, expanding social protection, and improving the overall member experience.
According to a statement from EPF, these initiatives are part of the 2026 Budget measures announced on October 10, 2025, and reflect the fund’s ongoing commitment to meet evolving member needs while supporting long-term financial resilience and well-being.
Key initiatives include an increase in the Hajj Withdrawal limit from RM3,000 to RM10,000 from the EPF Account 1, designed to assist members planning for the pilgrimage. The requirement to verify Tabung Haji account balances for eligibility will be removed, simplifying the application process and enabling better Hajj planning.
EPF also introduced i-Saraan Plus, a voluntary contribution scheme for e-hailing drivers, offering higher government matching incentives of up to RM600 per year, subject to a lifetime cap of RM6,000. Eligible drivers will be enrolled through participating platform providers, which will also facilitate contribution deductions at rates chosen by the drivers.
The eligibility age for i-Suri will be raised from 55 to 60, in line with the country’s minimum retirement age. Government matching incentives will continue at 50% of annual contributions, with a limit of RM300 per year and RM3,000 over a lifetime.
Additionally, the Retirement Income Adequacy (RIA) Framework will take effect tomorrow, providing three retirement savings benchmarks: Basic Savings of RM390,000, Adequate Savings of RM650,000, and Enhanced Savings of RM1.3 million.
In line with the Enhanced Savings level, EPF will improve the Over RM1 Million Withdrawal Policy to allow members under 55 to manage excess savings, with the limit increasing by RM100,000 annually over three years, starting at RM1.1 million in 2026.
Eligibility for the Member Investment Scheme (SPA) will also be aligned with the Basic Savings threshold, ensuring that invested surplus savings do not compromise essential retirement needs.
To encourage voluntary contributions, EPF is introducing new branding: i-Simpan for voluntary contributions and i-Topup for contributions above statutory rates, complementing existing schemes such as i-Saraan, i-Sayang, and i-Suri.
For more information, members can refer to the FAQs on the EPF website at www.kwsp.gov.my.
