Kuala Lumpur: The government has raised the maximum matching incentive limit for the i-Saraan programme from RM300 to RM500 per year, effective Jan 1, 2024, according to EPF.
It said self-employed Malaysians with no fixed income under the age of 60 and voluntarily contributing to i-Saraan would receive matching incentives of 15% of the voluntary contribution, subject to a maximum incentive limit of RM500 per year.
“The government will continue to give incentives to every i-Saraan participant who contributes, subject to a maximum lifetime incentive of RM5,000, to encourage them to continue saving for retirement and allow more members to benefit from this incentive,” it said in a statement.
For the first half of 2023, government incentives amounting to RM28 million have been credited to 211,361 members under the i-Saraan programme.
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The government introduced the same initiative for the i-Suri programme, providing a matching incentive of 50% for every voluntary RM1 contribution by housewives under the age of 55 registered in the e-Kasih database, subject to a maximum incentive limit of RM300 per year and a lifetime limit of RM3,000.
“For 2023, government incentives amounting to RM19 million have been credited to 42,532 members under the i-Suri programme,” EPF said.
More information can be found on the EPF website, or by contacting the EPF contact management centre at 03-8922-6000.
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