EPF / KWSP

Employment

The Employees Provident Fund (Kumpulan Wang Simpanan Pekerja) is Malaysia's compulsory retirement savings scheme for private-sector workers. Both the employee and employer contribute a percentage of the monthly wage into the member's account, which earns an annual dividend declared by EPF. Savings are mainly meant for retirement, but members can make partial withdrawals for approved purposes such as housing, education, or healthcare. Membership is mandatory for most local employees, while foreign workers may contribute voluntarily. Contribution rates, dividend, and withdrawal conditions are set by law and subject to the latest rules.

EPF / KWSP

Related terms