Total contributions to the i-Saraan programme, a voluntary scheme under the Employees Provident Fund (EPF), reached RM2.6 billion in 2024, according to Finance Minister II, Datuk Seri Amir Hamzah Azizan. Of this amount, the government’s incentive allocation amounted to RM114.8 million, benefiting 529,667 members.

This represents a significant increase compared to previous years, he said, with the government’s incentive standing at RM54.7 million for 383,082 members in 2023 and RM33.2 million for 291,743 members in 2022. As a result, total contributions to the i-Saraan programme rose to RM1.44 billion in 2023, up from RM888 million in 2022. 

Amir Hamzah said this in response to a query from Senator Hasbie Muda during the question-and-answer session in the Dewan Negara today regarding the allocations for the i-Saraan and i-Suri programmes under the EPF.

He also outlined the government’s planned enhancements to the i-Saraan programme, including an increase in the matching incentive from 15% to 20%, with a maximum of RM500 per year and a lifetime limit of RM5,000 per individual, as announced in Budget 2025. Eligibility for this incentive is limited to individuals under the age of 60, Amir Hamzah said. 

Meanwhile, Amir Hamzah revealed that a total of 75,196 members have benefited from government incentives under the i-Suri EPF scheme, with disbursements amounting to RM11.4 million. This marks a 77% increase in the number of recipients compared to the 42,759 members recorded in 2023.

For 2024, the i-Suri incentive structure provides a 50% matching contribution for every ringgit deposited into the EPF, with an annual cap of RM300. This incentive is subject to a lifetime maximum of RM3,000 per individual, applicable to those under the age of 55.

In a separate announcement, Amir Hamzah stated that the number of contributors with basic savings has increased by 7% in 2024, reaching 37.3% of members, or 2.75 million individuals.

(Source: MalayMail)

• TAGS:
• Datuk Seri Amir Hamzah Azizan
• Dewan Negara
• Employees Provident Fund
• EPF
• i-Saraan programme
• i-Suri EPF scheme