The Employees Provident Fund (EPF) announced three changes on 11 May 2026. i-Legasi lets eligible members transfer excess savings to family members’ EPF accounts. i-Emas is a rebrand of the existing monthly payout option under the Age 55/60 Withdrawal scheme. And the Retirement Goal Calculator is now live in the KWSP i-Akaun app.

EPF chief executive officer Ahmad Zulqarnain Onn said retirement planning needs to go beyond accumulation to address how far savings will last.

Transferring Excess Savings To Family

i-Legasi is open to members aged 55 and above whose total EPF savings exceed RM650,000, EPF’s Adequate Savings level under its Retirement Income Adequacy (RIA) Framework. Only the balance above that threshold is eligible for transfer.

Recipients must be spouses or children who are Malaysian citizens or permanent residents, current EPF members, and below the minimum retirement age of 60. The minimum transfer amount is RM50, with no upper cap as long as the transferor’s remaining balance stays at or above RM650,000. Transfers can go to more than one family member under the same rules.

Applications are submitted at EPF counters. Once submitted, there’s a 7-calendar-day cooling-off period during which the transferor can cancel at the counter. After that window closes, the transfer can’t be reversed, and recipients can’t refuse it.

Monthly Payouts Instead Of A Lump Sum

i-Emas is a rebrand of the existing monthly payment option under the Age 55/60 Withdrawal scheme. The mechanics are the same. Members can opt for automated monthly payments instead of a single large withdrawal, while the remaining balance keeps earning annual EPF dividends.

More than 21,000 members have already been using this arrangement, though that’s still a small share of those eligible. The rebrand reflects EPF’s push for members to draw savings down as structured monthly income, with the remainder staying invested. Keeping savings in EPF under i-Emas also reduces exposure to financial scams and the risk of spending down a large sum faster than expected.

Planning Ahead With The Retirement Goal Calculator

The Retirement Goal Calculator is available through the KWSP i-Akaun app. It lets you estimate how much you’re likely to need at retirement based on your expected monthly expenses and lifestyle, then shows how your current savings track against that figure.

The output is a personalised read on your retirement readiness, including the gap between where you are and where you’d need to be.

Can You Live On Of RM650,000 Retirement Savings?

EPF anchored its RM650,000 Adequate Savings benchmark on RM2,690 per month, the estimated minimum for a decent retirement in the Klang Valley according to the Belanjawanku 2024/2025 guide, multiplied across 240 months. 

Under EPF’s own drawdown scenario, that translates to RM2,708 in year one, rising to RM7,389 by year 20 as the remaining balance keeps earning dividends, and the Retirement Goal Calculator in the KWSP i-Akaun app is the starting point for seeing where your own balance fits.

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Christina Chandra

Christina writes about personal finance with an eye for making the complicated feel straightforward. She is drawn to the everyday money decisions people face and genuinely enjoys finding the clearest way to explain them. Between articles, she is probably napping, on a hiking trail, or terrorising her sister’s cats.

About THE AUTHOR

Christina Chandra

Christina Chandra

Christina writes about personal finance with an eye for making the complicated feel straightforward. She is drawn to the everyday money decisions people face and genuinely enjoys finding the clearest way to explain them. Between articles, she is probably napping, on a hiking trail, or terrorising her sister's cats.

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