PETALING JAYA: More than one million self-employed workers have benefitted from the Employees Provident Fund’s (EPF) i-Saraan voluntary retirement savings programme.
According to EPF, 1.3 million individuals have contributed a total of RM10.1bil to the scheme since its inception in 2010, supported by RM459.6mil in government matching incentives between 2010 and 2025.
“This shows that more Malaysians outside the formal sector are taking steps to build their retirement savings,” EPF told The Star.
“We will continue strengthening financial literacy and outreach efforts to encourage consistent savings habits, particularly among gig workers whose income patterns vary over time.”
Designed for self-employed individuals without fixed incomes, i-Saraan offers a 20% government matching incentive – up to a maximum of RM500 annually – on voluntary contributions made within the current year.
The scheme is open to self-employed Malaysians aged under 60, with matching incentives capped at a lifetime limit of RM5,000 or until the contributor reaches age 60, whichever comes first.
EPF also offers a tailored variant for e-hailing and p-hailing drivers, known as i-Saraan Plus.
Under Budget 2026, the annual matching incentive cap for i-Saraan Plus was raised from RM500 to RM600, while its lifetime limit increased from RM5,000 to RM6,000.
Beyond higher incentives, i-Saraan Plus enables automated contributions directly through participating platform providers.
EPF highlighted that retirement planning remains challenging for gig workers due to the absence of mandatory employer contributions and fluctuating earnings driven by job demand and working hours.
Direct platform deductions help bridge this gap.
“Our advice is simple: start small, start early and stay consistent,” EPF advised, noting that savings do not require large upfront sums.
“The important thing is to build a sustainable habit. Even small, regular contributions grow meaningfully with government incentives and EPF dividends.”
