EPF Launches i-Legasi, i-Emas & Retirement Calculator To Help Malaysians Retire Better
The new initiatives allow eligible members to transfer excess savings to family members, receive structured monthly retirement payouts, and better estimate their retirement needs as Malaysians live longer.
Cover image via Billion lim/AFP
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The Employees Provident Fund (EPF) has launched three new initiatives aimed at helping Malaysians better manage their retirement savings, as rising life expectancy continues to reshape long-term financial planning in the country
EPF on Monday, 11 May, introduced i-Legasi, i-Emas, and the Retirement Goal Calculator as part of a broader effort to strengthen retirement security and financial resilience across generations.
EPF chief executive officer Ahmad Zulqarnain Onn said the initiatives reflect the fund's evolving role in helping members not only accumulate retirement savings, but also manage and sustain those funds over a longer retirement period.
"As life expectancy rises, retirement planning must go beyond savings accumulation to focus on adequacy and sustainability," he said in a statement.
"We are evolving to support our members not just in saving, but in making informed decisions to ensure their savings last a lifetime and to leave a legacy for their loved ones."
One of the key announcements is i-Legasi
It's a new facility that allows EPF members aged 55 and above to transfer part of their savings to the EPF accounts of their spouses or children once they reach full withdrawal age.
However, the transfer is only allowed for savings exceeding the Adequate Savings threshold under EPF's Retirement Income Adequacy (RIA) Framework.
According to EPF, the transferred funds will come from savings already eligible for withdrawal and will be placed directly into the recipient's retirement savings account to ensure the money remains preserved for long-term retirement purposes.
Members aged 55 or 60 and above who have savings above the required Adequate Savings level may transfer funds to more than one immediate family member, provided the remaining balance still meets the threshold.
Recipients must be Malaysian citizens or permanent residents who are also EPF members and below the national minimum retirement age of 60.
Meanwhile, EPF has also rebranded its existing monthly withdrawal facility under the Age 55/60 Withdrawal as i-Emas
Instead of making a full lump-sum withdrawal upon retirement, members can opt to receive automated monthly payments while the remaining balance continues earning annual EPF dividends.
Ahmad Zulqarnain said more than 21,000 members have already chosen monthly withdrawals after turning 55 or 60, signalling growing awareness among Malaysians about the importance of structured retirement income.
He said i-Emas could help retirees better manage their daily expenses while reducing risks such as scams, overspending, and rapid depletion of retirement savings.
At the same time, EPF also launched a new Retirement Goal Calculator through the KWSP i-Akaun application
The digital tool allows members to estimate how much retirement savings they may need based on their preferred lifestyle, expected expenses, and retirement age.
It also helps users identify potential savings gaps and assess whether they are financially prepared for retirement.
The launch comes as Malaysians are expected to spend longer years in retirement due to rising life expectancy.
According to the Department of Statistics Malaysia (DOSM), a baby born in Malaysia in 2025 is projected to live up to 75.3 years on average, with women expected to live about 4.8 years longer than men.
With the national minimum retirement age currently set at 60, many Malaysians could potentially spend 15 to 20 years or more in retirement, increasing the importance of long-term financial planning.
EPF said retirement planning should take into account several factors, including future monthly expenses, healthcare costs, dependants, inflation, and additional income sources such as rental income, dividends, or part-time work.
The fund added that the newly introduced initiatives are part of a broader strategy to build a more holistic retirement ecosystem focused not just on savings accumulation, but also on sustainable income management and intergenerational financial security.
