Kuala lumpur: The Employees Provident Fund (EPF) today introduced i-Legasi, i-Emas, and the Retirement Goal Calculator as part of wider efforts to enhance retirement security and financial resilience across generations. EPF chief executive officer Ahmad Zulqarnain Onn emphasized the importance of retirement planning, stating that it must go beyond savings accumulation to focus on adequacy and sustainability.

According to BERNAMA News Agency, the i-Legasi facility enables members to transfer a portion of their EPF savings into the EPF accounts of immediate family members upon reaching full withdrawal age. Meanwhile, the current monthly payment method under the Age 55/60 Withdrawal has been rebranded as i-Emas to reinforce the importance of managing savings as a sustainable source of income. Instead of withdrawing their savings in full upon reaching age 55/60, members can opt for automated monthly payments via i-Emas, allowing their remaining balance to continue earning annual dividends.

Ahmad Zulqarnain highlighted that over 21,000 members have opted for monthly withdrawals upon reaching age 55/60, indicating a growing awareness of the need for structured monthly income post-retirement. He noted that i-Emas provides the flexibility to manage daily needs while protecting members against financial risks such as scams and rapid fund depletion, ensuring a stable flow of income throughout retirement.

The Retirement Goal Calculator, a new digital tool available via the EPF i-Akaun application, is designed to help members plan their retirement more effectively. The calculator assists members in estimating future savings needs based on lifestyle expectations and projected expenses.