Learn about EPF i-Saraan (previously known as SP1M aka Skim Persaraan 1 Malaysia  1 Malaysia Retirement Savings Scheme) benefits for self-employed and business owners. 15% government matching contribution if you are a business owner, freelancer, professional accountant, doctor, lawyer, insurance/unit trust/property agent, etc.

What is EPF i-Saraan?

A retirement scheme initiated by the Malaysian government for self-employed/retired/non-earning individuals into EPF with min guaranteed dividend 2.5%.


  • To provide an avenue for those who are self-employed and do not earn a regular income to save for the purpose of retirement.
  • To increase the number of self-employed who save with the EPF.
  • To demonstrate the Government’s concern for the self-employed through the provision of incentives to those who save for their retirement.
  • To reduce the number of senior citizens who are reliant on program allocations by the Society Welfare Department (JKM).

i-Saraan Eligibility

  • Malaysian citizen
  • Registered as an EPF member (else can apply to be a EPF member)
  • Self employed

Self Employed Definition

Defined as derive income from their work and not an employee (Salaried employees who receive regular income are not eligible)

  • Farmers/Fishermen/Taxi Drivers
  • Small Business Owners/Hawkers/Night Market Traders
  • Babysitters
  • Commission-receiving agents (eg. insurance agents, real estate agents)
  • Freelancers (eg. those who receive payment for services including deejays, singers, actors, fitness instructors, consultants)
  • Business Owners (sole proprietors/partners) involved in the trading of goods and services
  • Online Business Owners
  • Professionals with their own practice (eg. accountants, doctors, lawyers)
  • Housewives
  • Pensionable Employees

i-Saraan Application

  • Obtain Form KWSP 16G(1M) via any EPF branch/online
  • Submit form at branch over the counter or through mail

i-Saraan Benefits

  • EPF Dividends: until age 100
  • EPF Death Benefit: RM2,500
  • EPF Incapacitation Benefit: RM5,000
  • EPF Tax Exemption: RM6k (shared with life insurance)
  • 2014-2017: Government matching contribution 10% up to RM120 (for up to RM1,200 contributed)
  • 2018-2022: Government matching contribution 15% up to RM250 (for up to RM1,667 contributed)
    Note: Government matching for contributors below age 55 only

i-Saraan Contributions

  • Min contribution: any
  • Max total contribution: RM60k per annum
  • Contribution currency: Ringgit Malaysia (MYR) only
  • Contribution timing: Anytime
  • Via EPF counter/mail, appointed bank agent counter (RHB, MBB, PBB, BSN) or Internet Banking (Maybank and Public Bank)

i-Saraan Withdrawals


If you are self-employed, you can look into i-Saraan contribution with the government incentive of 15% by contributing RM1,667 per year until Y2022. To consider as well EPF withdrawal limitations & limited amount of RM250 incentive.

Est. Returns: 5.7% + 15% = 21.7%

Note: 5.7% is the long-term EPF average historical returns



Q: How do I open a i-Saraan Account?
i-Saraan account can be opened at EPF branch.

Q: How do I make contributions?
A: Can be done over the counter/online depending on services available in selected banks (RHB, Maybank, Public Bank, and BSN)

Q: How is the government contribution made to members account?
A: The EPF will routinely make Government contribution claims based on accumulated contribution for the first (January to June) and second (July to December) halves of the year. Upon receiving the contribution payment from the Government, the amount will be credited into members’ Ac 1 (Retirement Account).

Q: Where can I get more info on i-Saraan?
Official EPF link (kwsp.gov.my)