KUALA LUMPUR (Oct 18): The government plans to make it mandatory for all foreign workers to contribute to the Employees Provident Fund (EPF), with this set to be implemented in phases, according to Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim.

“The government is committed to providing fair treatment to all workers, regardless of nationality, in accordance with international standards,” Anwar said in his Budget 2025 speech on Friday.

The government, however, did not disclose the exact timeline for the implementation of this policy.

Meanwhile, on retirement savings under the i-Saraan scheme (targeted at self-employed Malaysians and those in the informal sector), EPF will raise the matching incentive to 20% (from 15% previously), capped at RM500 a year and RM5,000 per lifetime, according to Anwar.

Additionally, to address the issues and challenges associated with being an ageing nation, Anwar said that EPF is reviewing its scheme to strengthen its intergenerational transfer approach.

“This by allowing a portion of a members’ EPF savings to be directly transferred into the EPF account of close family members,” he said.

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