i-Saraan: Voluntary Contribution Scheme by EPF
i-Saraan is a voluntary contribution scheme introduced by the Employees Provident Fund (EPF/KWSP) for self-employed individuals or those without a fixed income. This scheme allows members to contribute to EPF for retirement savings while being eligible for additional government incentives.
Benefits of i-Saraan
✅ Government Incentive:
- The government provides an incentive of 15% of the total annual contribution, up to a maximum of RM300 per year.
✅ EPF Dividends:
- Savings in your EPF account will earn annual dividends.
✅ Flexibility:
- No minimum contribution amount.
- You can contribute any amount at any time, up to RM60,000 per year.
✅ Withdrawal Eligibility:
- Funds can be withdrawn according to EPF withdrawal conditions, similar to regular EPF savings (e.g., at age 55, in case of disability, or upon death).
Who is Eligible?
- Malaysian citizens.
- Aged below 60 years.
- Self-employed individuals or those without a fixed income, including:
- Small business owners.
- Freelancers.
- Farmers or fishermen.
- Housewives who choose to contribute.
- Not employed in the formal sector that requires mandatory EPF contributions.
How to Register for i-Saraan
1. New Registration
- Visit the nearest EPF branch.
- Bring the following documents:
✅ MyKad (Identification Card).
✅ i-Saraan Form (KWSP 16G(1)), which can be downloaded from the EPF website. - Fill in the form and submit it to the EPF officer.
2. Check Registration Status
- If you have already registered, you can check your status through i-Akaun (EPF online account).
How to Make i-Saraan Contributions
You can contribute to i-Saraan using several methods:
a) Online Contribution
- Log in to i-Akaun (Member) at https://www.kwsp.gov.my.
- Select the Contribution menu.
- Enter the amount you want to contribute and follow the payment instructions.
b) Through Online Banking
- Use internet banking services such as Maybank2u, CIMB Clicks, RHB Now, or any other banks supporting EPF payments.
c) At Bank Counters
- Visit EPF partner banks such as Maybank, RHB, and others.
- Provide your EPF membership number to make the contribution.
d) At EPF Counters
- Visit any EPF branch.
- Make payment at the counter by providing your EPF membership number.
Important Information
✔️ You can contribute anytime up to RM60,000 per year.
✔️ The maximum government incentive is RM300 per year, based on your total contribution.
✔️ The government incentive is only for members below 55 years old.
How to Check Contributions & Incentives
- Log in to i-Akaun to check your account balance and government incentive received.
Additional Notes
- Once you reach 60 years old, you are no longer eligible for government incentives but can still contribute voluntarily.
- i-Saraan savings help ensure a more stable retirement.
For more details, visit the official EPF website:
🔗 https://www.kwsp.gov.my
📞 EPF Hotline: 03-8922 6000