EPF urges cross-border workers to self-contribute: A call to action for Malaysians working in Singapore
The Employees Provident Fund (EPF) is urging Malaysians with Singapore work permits to voluntarily contribute to their retirement savings. This initiative aims to address the financial gap faced by these workers, who are currently not required to contribute to Singapore's Central Provident Fund (CPF).
With an estimated 300,000 to 400,000 Malaysians commuting daily to Singapore, the EPF recognizes the significant number of individuals who could benefit from this program. The EPF's Southern Regional Director, Nor Azhar Abdul Mokti, emphasized the importance of reaching out to these workers, acknowledging the timing challenges they face due to early morning commutes and late-night returns.
The self-contribution option is accessible to Malaysians or Malaysian permanent residents under 75 years old who are registered with the EPF. Contributions are tailored to individual financial capabilities. Nor Azhar encourages Malaysians in Singapore to take advantage of this opportunity, ensuring they don't miss out on valuable retirement benefits.
It's worth noting that while Singaporeans and permanent residents are mandatorily required to contribute to the CPF, foreign workers on work permits are exempt. This results in Malaysians earning a gross salary without any deductions. However, Nor Azhar highlights a unique feature: children as young as 15 can also start contributing through the EPF's I-Simpan and I-Topup programs. Parents or guardians can facilitate this process by visiting the nearest EPF office, where officers will assist in opening accounts with a minimum contribution of RM10.
The EPF Southern Region, covering Johor, Melaka, and Negri Sembilan, boasts 14 branches strategically located in Johor Baru, Kulai, Batu Pahat, Muar, Segamat, Kluang, Pasir Gudang, Mersing, Bandar Melaka, Alor Gajah, Jasin, Seremban, Nilai, and Bahau.
