The Employees Provident Fund (EPF) today announced a suite of enhancements aimed at strengthening retirement security, including the introduction of i-Legasi, the rebranding of the monthly payment method under the Age 55/60 Withdrawal as i-Emas, and the rollout of the Retirement Goal Calculator. These initiatives reflect EPF’s commitment to supporting members in accumulating savings, managing and sustaining retirement income, and extending financial security across generations.
EPF Chief Executive Officer Ahmad Zulqarnain Onn said, “As life expectancy rises, retirement planning must go beyond savings accumulation to focus on adequacy and sustainability. We are evolving to support our members not just in saving, but in making informed decisions to ensure their savings last a lifetime and to leave a legacy for their loved ones.”
i-Legasi: Advancing Intergenerational Financial Security
The i-Legasi facility enables members to transfer a portion of their EPF savings into the EPF accounts of immediate family members upon reaching full withdrawal age. The transfer amount is aligned with the Retirement Income Adequacy (RIA) Framework1, with only balances above the Adequate Savings level eligible for transfers.
The transfer will come from savings that are already available for withdrawal, and will be placed into the recipient’s retirement savings accounts, which are meant for long-term savings. The facility transfers savings from the transferor’s Akaun 55, or Akaun Emas for members aged 60 and above, to the transferee’s Akaun Persaraan, or Akaun Emas for transferees aged 55 to 59, to ensure the savings remain preserved for retirement.
Who Can Transfer (Transferors)?
- EPF members aged 55 or 60 and above
- Must have savings above the Adequate Savings level (only the excess can be transferred)
- Able to make transfers to more than one family member, as long as remaining savings stay above the Adequate Savings level
Who Can Receive (Transferees)?
- Limited to immediate family members (spouse and children)
- Must be below the national minimum retirement age currently at age 60
- Must be EPF members who are Malaysian citizens or Permanent Residents
- No limit applies to the amount they can receive
i-Emas: Strengthening Retirement Income Security
The current monthly payment method under the Age 55/60 Withdrawal has been rebranded as i-Emas, to reinforce the importance of managing savings as a sustainable source of income. Rather than withdrawing their savings in full upon reaching age 55/60, members can opt for automated monthly payments via i-Emas, allowing their remaining balance to continue earning annual dividends.
“Over 21,000 members have opted for monthly withdrawals upon reaching age 55/60, showing a growing awareness of the need for structured monthly income post-retirement. i-Emas provides the flexibility to manage daily needs while protecting members against financial risks such as scams and rapid fund depletion, and ensuring a stable flow of income throughout retirement,” Ahmad Zulqarnain said.
Retirement Goal Calculator: Empowering Digital Planning
Complementing these initiatives is the Retirement Goal Calculator, a new digital tool available via the KWSP i-Akaun application, designed to help members plan their retirement more effectively.
The calculator helps members estimate future savings needs based on lifestyle expectations and projected expenses. Through personalised projections, members can assess their current financial position, identify potential savings gaps, and understand their level of retirement preparedness. From these insights, members can plan ahead and leverage EPF products and services to meet their retirement needs and take greater ownership of their financial future.
A Holistic Approach to Retirement Adequacy
Together, i-Legasi, i-Emas, and the Retirement Goal Calculator represent EPF’s shift towards a more holistic retirement system, one that not only supports members in building savings, but also in managing income sustainably and extending financial security across generations.
“Our goal is to help our members retire with confidence and dignity. By strengthening the financial resilience of the next generation through i-Legasi and encouraging sustainable habits with i-Emas, we are building a more secure future for our members,” Ahmad Zulqarnain said.
For more information on the i-Legasi, i-Emas, and Retirement Goal Calculator, members can visit any EPF branches nationwide, or refer to the EPF official website at www.kwsp.gov.my or via KWSP i-Akaun. Members can also access advisory services from EPF’s Relationship and Advisory Officers on retirement and personal financial planning at all branches nationwide. —KWSP
1 Latest RIA savings levels: Basic Savings RM390,000, Adequate Savings RM650,000 and Enhanced Savings RM1.3 million
