The Employees Provident Fund (EPF) has introduced three new initiatives—i-Legasi, i-Emas, and a retirement goal calculator—as part of its efforts to strengthen retirement security and improve financial resilience among Malaysians across different generations.
EPF Chief Executive Officer Ahmad Zulqarnain Onn said retirement planning should no longer focus solely on saving money, but also on ensuring that savings are sufficient and can be sustained throughout retirement. He emphasised the importance of helping members make informed financial decisions for long-term stability.
“We are evolving to support our members not only in saving, but also in making informed decisions to ensure that their savings last a lifetime and enable them to leave a legacy for their loved ones,” he said in a statement.
Under the new i-Legasi feature, EPF members will be able to transfer a portion of their savings to immediate family members once they reach full withdrawal age. The initiative is designed to allow members to better plan the distribution of their retirement funds.
Meanwhile, the existing monthly withdrawal option under the age 55 and 60 schemes has been rebranded as i-Emas. The new branding highlights the concept of sustainable retirement income rather than a one-off withdrawal of savings.
Instead of taking out their EPF savings in a lump sum upon retirement, members who choose i-Emas will receive automated monthly payments. Any remaining balance will continue to earn annual dividends, helping to extend the lifespan of their retirement funds.
According to EPF, more than 21,000 members have already opted for monthly withdrawals upon reaching retirement age, reflecting increasing awareness of the need for structured post-retirement income planning.
Zulqarnain added that i-Emas offers flexibility for daily expenses while reducing risks such as overspending, scams, and rapid depletion of savings, ensuring members maintain a steady income throughout retirement.
In addition, EPF has also launched a retirement goal calculator through the i-Akaun application. The digital tool allows members to estimate how much savings they will need after retirement based on their lifestyle expectations and projected expenses, supporting better long-term financial planning.
