SHAH ALAM, Sept 16 – A total of 1.3 million self-employed Malaysians have participated in the Employees Provident Fund’s (EPF) i-Saraan voluntary retirement savings scheme since it was introduced in 2010.
EPF said the participants had collectively contributed RM10.1 billion to the programme, while the government provided RM459.6 million in matching incentives between 2010 and 2025.
“This shows that more Malaysians outside the formal sector are taking steps to build their retirement savings.
“We will continue strengthening financial literacy and outreach efforts to encourage consistent savings habits, particularly among gig workers whose income patterns vary over time," EPF told The Star.
i-Saraan was introduced for self-employed workers and others without fixed monthly incomes, allowing them to make voluntary EPF contributions while receiving a 20 per cent government matching incentive, capped at RM500 a year.
The scheme is available to self-employed Malaysians below 60 years old, with the government matching incentive limited to RM5,000 over the contributor’s lifetime or until they turn 60, whichever comes first.
For e-hailing and p-hailing drivers, EPF provides a dedicated version of the scheme known as i-Saraan Plus.
Under Budget 2026, the annual government matching incentive for i-Saraan Plus was increased from RM500 to RM600, while the lifetime incentive limit was raised from RM5,000 to RM6,000.
The scheme also allows contributions to be deducted automatically through participating e-hailing and p-hailing platforms, making it easier for workers to save regularly.
EPF said retirement planning can be particularly difficult for gig workers as they do not receive compulsory employer contributions and their earnings can fluctuate depending on factors such as demand and working hours.
“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," it said.
