Nearly 40 per cent of Employees Provident Fund (EPF) contributors aged between 18 and 60 have achieved the retirement savings target considered sufficient to support a basic retirement lifestyle, Deputy Finance Minister Liew Chin Tong told the Dewan Rakyat on Monday.
Liew said that as of May 31, 2026, a total of 3.04 million active Malaysian EPF contributors, or 38.3 per cent of the 7.94 million formal members in that age group, had reached the Basic Savings target based on their age.
He noted that the retirement savings benchmark for contributors aged 60 is RM390,000.
The figure represents an improvement from May 31, 2025, when 2.71 million contributors, or 35 per cent of 7.74 million active members, had met the same savings target.
Liew attributed the increase to several initiatives introduced by the EPF in recent years, including expanding channels that allow members to make voluntary contributions to boost their retirement savings.
He explained that savings adequacy is measured based on whether contributors have achieved the Basic Savings target set for their respective age groups.
Meanwhile, Liew revealed that RM46.3 million has been transferred through the i-Legacy programme since its launch in February.
The initiative allows financially secure EPF members to transfer part of their retirement savings directly into the EPF accounts of their younger immediate family members, helping strengthen their long-term financial security.
According to Liew, 63 applications have been approved under the programme so far, benefiting 86 recipients.
