i-Saraan is a voluntary contribution facility introduced by EPF, offering self-employed members, those with no fixed incomes, and gig economy sector workers an opportunity to receive Special Incentives from the Government for retirement purposes, subject to the terms and conditions.

The government Special Incentive rate for the i-Saraan program will be increased from 15% to 20% to encourage more Malaysians, especially informal workers and those without a fixed income, to save for a more prosperous retirement.

However, the maximum annual government Special Incentive limit remains at RM500 per year and RM5,000 for a lifetime or reaching the age of 60, whichever comes first, for each individual.

The requirements for i-Saraan application are;

i. Has registered as an EPF member;
ii. Malaysian Citizens;
iii. Below 60 years of age; 
iv. Individuals who are self-employed with no fixed income, members of the civil service in a pension service scheme and workers in the gig economy sector.

Yes. EPF members who are Malaysian citizens and have not reached the age of 60 can register for i-Saraan.

No. i-Saraan is only open to EPF members who have not reached the age of 60.

Yes, civil service employees who have opted for the pension scheme and are under the age of 60 are eligible to register for i-Saraan.

Yes, military members who are still serving can apply for i-Saraan if they are registered as EPF members.

i-Saraan's Special Incentive rate is 20% (up to a maximum of RM500) for the total voluntary contributions made for the current year*.

*Lifetime incentive limit of RM5,000 or when you reach age 60, whichever is earlier. (Subject to terms and conditions).

The lifetime Special Incentive maximum limit of RM5,000 takes effect in the year 2024 based on contributions made starting from the year 2024.

The lifetime maximum limit is calculated based on the cumulative total of annual Special Incentives and is limited to RM5,000 or upon reaching the age of 60, whichever comes first.

Example:
Abu contributes i-Saraan and receives the Special Incentive for the years 2024 and 2025.

The total accumulated Special Incentive he received is RM1,000.

The i-Saraan Special Incentive that he is still eligible to receive is RM4,000 (RM5,000-RM1,000).

Members can make i-Saraan contribution payments through the following channels:-

i.    i-Akaun mobile application (Member);
ii.   Internet banking;
iii.  Bank agent counters – BSN, Maybank, Public Bank & RHB Bank;
iv.  Registered bank agent – (EB) BSN;
v.   Payment by cheque or bank draft at all EPF Office Receipting Counters;
vi.  Debit Card payments through the EPF Mobile Team/ Relationship & Advisory (RA) services.

Members are eligible to receive the Special Incentive based on matching contribution of 20% (up to a maximum of RM500) for the total voluntary contributions made for the current year made by members. To qualify for the maximum annual Special Incentive of RM500, members need to contribute at least RM2,500 per year.

Refer to the illustration below:

The benefits that members can obtain for contributing under i-Saraan are:-

i.    Increase the retirement savings rate with Special Incentives from the Government;
ii.    Enjoy annual dividends on savings;
iii.    Death benefit (subject to EPF terms and conditions);
iv.    Members are also eligible to receive tax relief (subject to IRB's terms & conditions).

The i-Saraan Special Incentive payment will be credited to the member's EPF account twice a year (subject to the receipt of Special Incentive payments from the government).

No. All i-Saraan contributions paid to EPF are final. Therefore, members need to ensure that payments are in order before proceeding with the transaction.

All contributions received after the member reaches the age of 55 will be credited into Akaun Emas and can only be withdrawn after the member reaches the age of 60.

i-Saraan contribution will be credited to Akaun Persaraan (Account 1), Akaun Sejahtera (Account 2), and Akaun Fleksibel (Account 3) according to its distribution rate, which are 75%, 15%, and 10% respectively.

For members who have reached the age of 55, 100% of the i-Saraan contributions will be credited to Akaun Emas.

The i-Saraan Special Incentive will be credited to Akaun Persaraan (Account 1). If the member reaches age 55, the i-Saraan Special Incentive will be credited to Akaun Emas.