Show Me Your Love with EPF i-Sayang :)

"Action speaks louder! Don't just say that you love me, let's show it to me!"

Be careful, this might be the statement to be issued by your lovely wife if she read about this article. 😂💭 Sound so serious? Yes. I dare you not to understand this and can go back home comfortably starting tonight. 💞

What is EPF i-Sayang?

i-Sayang is an initiative introduced by the Government that allows the husband (contributor) to transfer the 2% employee share contribution received from the employer to the wife's (recipient) EPF account.

Who Can Apply?

• For husband (Contributor), must be Malaysian or Non-Malaysian
• For wife (Recipient), must be Malaysian
• Both are EPF member
• Both are below 75 years of age
• Marriage that has been registered under Malaysian Law

Three Key Main Features:

1. Transfer of 2% employee share contribution received from the employer to the wife’s (recipient) EPF account.
   
   
2. The application is made voluntarily by the husband, and the transfer occurs automatically each month when an employer contribution is credited to the husband's EPF account.
   
   
3. The transfer of this contribution cannot be cancelled unless the wife (recipient) divorces or dies.

Okok.

What is the easiest way to apply?

For sure, the husband has to do it voluntarily and the easiest way is via i-Akaun (Member) login.

What if the husband apply successfully and then cancelled it later? You know lah, husband cannot be trusted mah...

i-Sayang registration which has already been approved regrettably cannot be canceled without any reason. Husband (contributor) can only cancel it if divorce occurs or the wife (recipient) passes on. 👀

If the husband loves his wife larger than lives, can he contribute more than 2%?

(Although this scenario is quite rare) Unfortunately cannot. The 2% transfer is set by the Government. 💋 (Read the changes announced under Budget 2024 below) 😘

Further remarks:

The i-Sayang contribution is limited to 2% only after taking into consideration the situation of the husband married to 4 wives. Therefore, the transfer amount is 8%. The remaining of the husband's employee share is 3% only from the total employee share which is 11%. 👀

Source: EPF website

<<< Update under Budget 2024 >>>

Beginning 2024, the i-Sayang programme will be expanded to include husbands, in which working wives will also have the option to allocate 2% of their monthly EPF contributions (employee’s portion) to their husbands’ EPF accounts.

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