The Employees Provident Fund (EPF) shared that it has enabled debit cards as a new payment method for members who would like to make self contributions to their EPF accounts. This is on top of other existing methods, such as money transfers through internet banking and electronic payments via the EPF i-Akaun mobile app.

According to the notice by the EPF, those who would like to self-contribute using debit cards are required to visit the nearest EPF branch, or meet the Mobile Team or Mini Outreach Team to do so, as this feature has not been enabled on the i-Akaun app as of yet. Additionally, you must complete the KWSP 6A (DC) form in order to perform this transaction, which can be downloaded ahead of time from the EPF website.

Here’s a visual guide from the EPF to assist those who are interested in using their debit cards to make self contributions to their EPF account:

As you can see, the process is pretty straightforward, but do note that the amount that you can self-contribute via this payment method is subject to the transaction limit of your debit card. Additionally, the maximum limit for voluntary contributions is currently set at RM100,000 per year, raised from the previous limit of RM60,000 per annum under Budget 2023.

This initiative from the EPF is part of its efforts to encourage and make it easier for Malaysians to replenish and increase their retirement savings in preparation for their golden years, particularly independent and informal workers such as gig workers.

(Source: EPF)

• TAGS:
• Employees Provident Fund
• Employees Provident Fund (EPF)
• EPF
• EPF Mini Outreach Team
• EPF Mobile Team
• EPF Self Contribution
• EPF Self Contributions