Budget 2025: Raising Wages, Promoting Inclusion, and Boosting Retirement Savings (Issue 2 of 2)
The Government will enhance its support for the EPF i-Saraan program by increasing the matching contribution from 15% to 20% of each individual’s contribution. This contribution is capped at RM500 annually, with a lifetime maximum limit of RM5,000. The i-Saraan program is designed to support self-employed individuals and those with no formal income to save for retirement.
Additionally, EPF contributions will become mandatory for non-Malaysian employees, with implementation planned in phases. This phased approach aims to ensure all employees, including foreign workers, have access to retirement savings, aligning with the government’s commitment to financial security for all workers in Malaysia.
An incentive of RM600 per month for a period of three months will be granted to employers hiring workers with disabilities and ex-convicts under SOCSO’s supervision. This initiative aims to encourage companies to support social inclusion by providing employment opportunities to individuals facing challenges in the job market.
