EPF helps Malaysians to save for their retirement. If you work for a company, you’ll have 11% * of your monthly salary automatically saved in EPF, with your employer contributing another 13% (if you earn RM5,000 and below) or 12% (if you earn more than RM5,000). These savings are called mandatory contributions.

If you don’t work for a company and don’t get a regular income, you don’t have to make mandatory contributions to EPF. But since you should still save for your retirement, EPF provides a few options for you to make voluntary contributions. Let’s take a look at these voluntary contribution plans to help you decide which is best for you.

Scheme	i-Saraan	Kasih Suri Keluarga Malaysia KWSP	Self-contribution
How does it work?	This scheme is for those who are self-employed and don’t get a regular income. You can contribute any amount up to RM60,000 a year, at any time. Since this is a newer scheme than Kasih Suri Keluarga Malaysia (see next column), if you previously registered for Insentif Suri you must cancel it before applying for i-Saraan.	This scheme is for housewives registered in the National Database on Poverty (eKasih) as of 30 November 2021. You must contribute at least RM5 a month or RM60 a year and you can make your contributions at any time.	If you’re self-employed, a business owner, a commission agent, or Malaysian working overseas (who doesn’t have to contribute to EPF), you can pay any amount up to RM60,000 a year. You can contribute at any time. *Note: Self-contributions are also available for workers who make mandatory contributions and want to save more for their retirement.
Benefits	Annual dividend Tax exemption up to RM4,000 Death benefits up to RM2,500 The government will pay you a special incentive of 15% of your savings, up to RM250 a year (from 2018-2022)	Annual dividend Death benefits up to RM2,500 The government will pay you RM480 a year if you fulfil the requirements	Annual dividend Tax exemption up to RM4,000 Death benefits up to RM2,500
Who can apply?	Malaysian citizen Below 60 years old Self-employed or have no regular income Registered EPF member Have opted to contribute to i-Saraan by submitting Form KWSP 16G(M)	Malaysian citizen Below 55 years old Wife of the head of household/single mother or widow	Malaysian citizen EPF member
When should you apply?	You can apply any time. The government will pay you a special annual 15% incentive up to RM250 until 2022, so apply before then.	You can apply at any time.	You can apply at any time.
How to register	Get Form KWSP 16G(M) from any EPF counter or download it here. Fill out the form and opt in for i-Saraan. Submit the form to an EPF branch. Bring your MyKad to verify your identity.	Get Form KWSP 16G(M) from any EPF counter or download it here. Fill out the form and opt in for Kasih Suri Keluarga Malaysia. Submit the form to an EPF branch. Bring your MyKad to verify your identity.	Get Form KWSP 6A(1) from any EPF counter or download it here. Fill out the form and submit while making payment.
How to pay	Fill in Form KWSP 6A (2) for i-Saraan You can pay in one of these ways: Cash/cheque at EPF counters Cash (maximum RM500)/cheque at bank agent counters Online banking (you don’t need a form for online banking)	Fill in Form KWSP 6A (2) for Kasih Suri Keluarga Malaysia You can pay in one of these ways: Cash/cheque at EPF counters Cash (maximum RM500)/cheque at bank agent counters Online banking (you don’t need a form for online banking)	Fill in Form KWSP 6A(1) You can pay in one of these ways: Cash/cheque at EPF counters Cash (maximum RM500)/cheque at bank agent counters Online banking (you don’t need a form for online banking) If you’re paying by cheque, money order or bank draft, write your member reference number and the month of the contribution on the back

* The new minimum contribution rate will be 9% from January 2021 until December 2021, as a short-term measure in Budget 2021.

So, which scheme should you choose?

First, check the requirements of each scheme to see which you can join. If you’re eligible for more than one scheme, compare the minimum contributions you need to make with the benefits and government incentives you’ll get to help you decide which plan is best for you.

For more information on retirement planning, you can also read our guide on planning for your retirement and saving with EPF. You can also use our retirement calculator or watch our videos!

To achieve your financial goals, you may be interested in these posts:

Planning and budgeting guide

Saving in EPF guide

Why it’s important to pay off your loans

This article was originally published in May 2021 and last updated on 22 August 2022 for freshness.