EPF CEO Ahmad Zulqarnain Onn said retirement planning must go beyond savings accumulation, focusing instead on adequacy and sustainability.

“We are evolving to support our members not only in saving, but also in making informed decisions to ensure that their savings last a lifetime and enable them to leave a legacy for their loved ones,” he said in a statement today.

The i-Legasi facility allows members to transfer a portion of their EPF savings to the accounts of immediate family members upon reaching full withdrawal age.

Meanwhile, the current monthly payment option under the age 55/60 withdrawal scheme has been rebranded as i-Emas to emphasise the importance of managing savings as a sustainable source of income.

Under i-Emas, instead of withdrawing their savings in full upon reaching age 55 or 60, members can opt for automated monthly payments, allowing the remaining balance to continue earning annual dividends.

“More than 21,000 members have opted for monthly withdrawals upon reaching age 55/60, reflecting a growing awareness of the need for structured post-retirement income,” said Zulqarnain.

He added that i-Emas provides flexibility for daily needs while helping protect members against financial risks such as scams and the rapid depletion of funds, ensuring a stable income throughout retirement.

The retirement goal calculator, available via the EPF i-Akaun application, is a new digital tool designed to help members plan their retirement more effectively.

It enables members to estimate future savings needs based on lifestyle expectations and projected expenses.