What Is Epf i-Saraan ? Here The Explanation

What is EPF i-Saraan?

i-Saraan is a voluntary contribution scheme under the Employees Provident Fund (EPF), designed for individuals who are self-employed, have no fixed income, or are not covered by a formal employer-employee relationship. This program allows participants to save for their retirement while benefiting from government incentives.


Key Features of i-Saraan

  1. Voluntary Contributions:
    • Participants can contribute at their own pace with no fixed schedule.
    • Minimum contribution: RM50 per transaction.
  2. Government Incentive:
    • Eligible contributors will receive a government incentive of 15% of their annual contributions, capped at RM300 per year.
    • This incentive is valid until 2025 (subject to extension).
  3. Dividends:
    • Contributions earn annual dividends, similar to regular EPF accounts.
  4. Flexibility:
    • Participants can withdraw funds for specific purposes (e.g., health or housing) based on EPF rules.

Eligibility for i-Saraan

  1. Age Requirement:
    • Malaysian citizens aged below 55 years old.
  2. Employment Status:
    • Self-employed individuals.
    • Freelancers or gig workers (e.g., Grab drivers, online sellers).
    • Individuals not earning a fixed income or not under formal employment.
  3. EPF Membership:
    • Must be an EPF member (if not, register as a member first).

How to Register for i-Saraan

1. If You Are Already an EPF Member:

  • Fill out the KWSP 16G(1) form for i-Saraan registration.
  • Submit the form at any EPF branch.

2. If You Are Not an EPF Member:

  • Register as an EPF member:
    • Fill out the KWSP 3 form.
    • Submit at an EPF branch or online.

3. Documents Required:

  • MyKad (identification card).
  • Completed registration forms (KWSP 16G(1) or KWSP 3).

How to Make Contributions

  1. Online:
    • Use online banking platforms like Maybank2u, CIMB Clicks, or RHB Now to transfer funds to your EPF account.
  2. Over the Counter:
    • Contribute via EPF counters or partner banks.
  3. Mobile App:
    • Use the i-Akaun mobile app for transactions and monitoring your account.

Benefits of i-Saraan

  1. Government Incentive:
    • Receive up to RM300 annually as a top-up for your savings.
  2. Retirement Savings Growth:
    • Earn annual EPF dividends to grow your savings.
  3. Flexibility:
    • No mandatory monthly contributions, giving you full control over your savings schedule.
  4. Withdrawal Benefits:
    • Access funds for retirement or specific purposes based on EPF withdrawal rules.

How to Check i-Saraan Contributions

  1. Via i-Akaun (Online):
    • Log in to your EPF i-Akaun to check balances and contributions.
  2. Mobile App:
    • Download the i-Akaun app for account management on the go.
  3. Visit an EPF Branch:
    • Request a statement of your contributions.

Contact and Support

For more information about i-Saraan, contact:

i-Saraan is an excellent option for self-employed individuals to save for a secure and stable retirement while enjoying government incentives.

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