Automatic EPF enrolment announced for Malaysians turning 18
Budget 2027 also provides a 20% matching incentive for eligible e-hailing and p-hailing workers, subject to annual and lifetime limits.
Malaysians reaching 18 will automatically become members of the Employees Provident Fund (EPF), under a measure announced on Oct 9 by Prime Minister Datuk Seri Anwar Ibrahim in his Budget 2027 presentation.
EPF said automatic enrolment would widen access to retirement savings. At present, an employer’s first contribution triggers registration, although workers may register themselves and employers may register their employees directly.
The government will also provide eligible e-hailing drivers and p-hailing workers with a matching incentive of 20%. To obtain the maximum annual incentive of RM600, members must contribute RM3,000 annually. The lifetime incentive limit is RM6,000 up to retirement age. EPF said it would continue i-Saraan Plus for these drivers.
Another measure will let members younger than 55 draw on Akaun Sejahtera to cover MediAsas premiums, Anwar said. Nationwide introduction of the medical insurance and takaful plan is scheduled for January 2027. Through i-Lindung, members can already buy approved coverage for life and critical illness.
Anwar said those choosing Simpanan Shariah would have the option of paying zakat directly using their dividends. He also pointed to the existing i-Emas facility, under which eligible members aged 55 and 60 can withdraw savings monthly while the balance continues to earn dividends.
EPF recorded 18.5 million members at end-June, its latest data showed. The active membership figure was 10.95 million, covering members who contributed at least once during the past 12 months.
