Kuala Lumpur (May 12) - Employees Provident Fund (EPF) has introduced several new initiatives aimed at improving retirement planning and financial security for Malaysians, including a feature that allows members to transfer part of their savings to eligible family members.
Among the newly announced programmes is i-Legasi, which enables EPF contributors to transfer funds to spouses, parents, or children under certain conditions. The initiative is designed to help families strengthen long-term financial protection and improve wealth planning across generations.
The move reflects EPF’s broader effort to encourage more flexible and inclusive retirement management, especially as Malaysians face increasing living costs and longer life expectancy.
In addition to i-Legasi, EPF also introduced i-Emas, a new initiative focused on improving retirement preparedness and financial resilience among members. The organisation further launched a financial planning tool known as the Goal Calculator, aimed at helping contributors estimate and manage their future retirement needs more effectively.
EPF said the initiatives are part of ongoing efforts to modernise retirement planning and provide members with more personalised financial options.
The ability to transfer savings to close family members is expected to benefit households seeking better financial continuity and protection, especially in cases involving dependents or long-term family support planning.
For Sabahans, the introduction of i-Legasi could provide additional flexibility in managing family finances, particularly in households where multiple generations rely on shared economic support.
In Sabah, it is common for families to support elderly parents, children, or relatives living in rural districts. The ability to transfer EPF savings to family members may help strengthen financial security within households and improve long-term planning.
The initiative may also benefit Sabahans working outside the state who wish to assist family members back home through structured retirement savings arrangements.
At the same time, the Goal Calculator and i-Emas programmes could help improve financial literacy and retirement awareness among contributors in Sabah, where concerns over retirement readiness and rising living costs continue to grow.
For younger workers, the new tools may encourage earlier retirement planning, while older contributors may gain more options for managing savings and supporting dependents.
Overall, the introduction of these initiatives signals a shift toward more adaptable retirement solutions, potentially helping Sabahans build stronger financial stability for both individuals and families in the years ahead.