New i-Sayang programme allows husbands to transfer 2% of EPF contributions to their wives

PETALING JAYA: The Employees Provident Fund (EPF) is announcing a new financial facility called i-Sayang which enables husbands to voluntarily transfer 2% of their EPF monthly contributions to their wives account for their welfare.

EPF chief executive officer Datuk Seri Amir Hamzah Azizan said i-Sayang was part of EPF's ongoing efforts to further expand the social protection net to family institutions and encourage more Malaysians, who were not covered by any formal social protection scheme, to save for their retirement future.

"By enabling husbands to voluntarily contribute 2% of their EPF monthly contribution, they would encourage their wives to have long-term savings and in addition, gain access to the quality social security and income security currently enjoyed by EPF members.”

Amir said about 2.4 million housewives in the country were not in any employment or were outside the labour force, hence were not covered by any form of social protection and leaving them more vulnerable to adversities or financial shocks.

"Therefore, the i-Sayang initiative is in line with the government's commitment to empower rights and take care of women's welfare, in addition to applying family values in line with the concept of Malaysia Madani," he added.

Applications for i-Sayang could be made online through EPF i-Akaun (Member), EPF’s Self-Service Terminal (SST), or at any EPF counters nationwide.

Further information on i-Sayang can be obtained from the EPF website at www.kwsp.gov.my, or call the EPF contact management centre at 03-8922 6000.