KUALA LUMPUR, Oct 18 — The government will make it compulsory for all foreign workers to contribute to the Employees Provident Fund (EPF), said Prime Minister Datuk Seri Anwar Ibrahim.
He said the government is committed to providing fair treatment to all workers regardless of nationality, in accordance with global standards.
“This proposal will be implemented in phases,” he said when tabling Budget 2025 in the Dewan Rakyat today.
To encourage more informal workers and those without a fixed income to save for retirement, Anwar, who is also Finance Minister, announced that the EPF i-Saraan matching incentive has been raised from 15 per cent to 20 per cent, subject to an annual limit of RM500 or a lifetime maximum of RM5,000.
He said the i-Suri programme will continue with matching incentives through government contributions and active contributions from participants.
Anwar added that the social protection agenda will be strengthened to ensure more people have adequate retirement savings and insurance against calamities.
He said the Self-Employment Social Security Scheme would cover up to 70 per cent of employee contributions, with an allocation of RM100 million.
“This is in preparation for establishing mandatory contributions as one of the requirements for renewing vocational licences for self-employed individuals next year. The operating company is urged to cover the remaining contribution as a commitment to protect workers’ welfare,” he said.
The Prime Minister also said the Perlindungan Tenang scheme will continue in collaboration with Bank Negara and insurance and takaful providers, benefiting up to two million Rahmah Cash Aid recipients.
“They are eligible to claim a RM30 voucher to cover part of the cost of purchasing a Perlindungan Tenang product that provides protection against death, accidents, and general risks such as fire and flood,” he said.
— Bernama
