KWSP adds i-Legasi, rebrands payouts as i-Emas, launches retirement calculator
Two new tools and a rebrand in KWSP i-Akaun change how members manage savings after 55 and pass them to family.
What happened1/7 KWSP introduces i-Legasi, rebrands payouts as i-Emas, adds calculator
KWSP CEO Ahmad Zulqarnain Onn announced i-Legasi, i-Emas and a Retirement Goal Calculator in the i-Akaun app in a statement this week.
i-Legasi lets a member transfer part of their EPF savings to a family member's KWSP account after reaching full withdrawal age. i-Emas is the rebranded monthly-payout option at 55 or 60. The calculator estimates how much you need to save for the retirement lifestyle you want.
Ahmad Zulqarnain said retirement planning must go beyond the accumulation phase and focus on adequacy and sustainability of income.
The real numbers2/7 21,000+ members already chose monthly payouts over lump sum
21,000+members chose monthly payout at 55/6075%of contributions go to Akaun Persaraan15%go to Akaun SejahteraMore than 21,000 members have already chosen the monthly withdrawal method at 55 or 60, according to KWSP. The rebrand to i-Emas emphasises managing retirement savings as a sustainable monthly income stream rather than a one-off lump sum.
Since 11 May 2024, every new contribution is split 75% into Akaun Persaraan, 15% into Akaun Sejahtera and 10% into Akaun Fleksibel. i-Emas operates on the Akaun Persaraan balance accessible at 55 or 60. For i-Legasi, the report says transfers come from KWSP savings but does not specify which account the portion is drawn from. Check kwsp.gov.my for the exact terms.
Account Share of new contributions When accessible Akaun Persaraan 75% Age 55 (locked) Akaun Sejahtera 15% Housing, health, education, approved purposes Akaun Fleksibel 10% Any time, minimum withdrawal amount applies 21,000+ 01/03members chose monthly payout at 55/60 21,000+ members already chose monthly payouts over lump sum members chose monthly payout at 55/60
How it works3/7 i-Emas keeps your balance earning dividends after 55
Under the old setup, a member at 55 or 60 could take the full Akaun Persaraan balance as a lump sum. Once the money left KWSP, it stopped earning the annual dividend.
With i-Emas, the member instead picks an automatic monthly payout. The remaining balance stays inside KWSP and continues to receive the yearly dividend, so the pot does not shrink as fast. KWSP says this also shields members from fraud and from a sudden, large drawdown of savings.
i-Emas is a rebrand of the existing monthly-payment method, not a new product. Members who already chose monthly payouts are not affected; the name and messaging changed, the mechanics did not.
How it works4/7 i-Legasi moves part of your EPF to a family member's account
i-Legasi allows a member who has reached full withdrawal age to transfer a portion of their KWSP savings into the KWSP account of a nearest family member. The receiving family member must already have their own EPF account.
The report does not state the exact transferable percentage, the list of eligible family members, or the application steps. Those details will come from KWSP's official portal and i-Akaun app. Check kwsp.gov.my for the full terms before planning a transfer.
- 02/03
21,000+ members already chose monthly payouts over lump sum ✓of contributions go to Akaun Persaraan 75% of contributions go to Akaun Persaraan
How it works5/7 Retirement Goal Calculator asks what your life will cost
The new calculator sits inside the KWSP i-Akaun app. You enter your expected lifestyle and projected monthly spending after retirement, and it estimates the total savings you will need.
It is a planning aid, not a product recommendation. It does not tell you which fund to pick or what dividend to expect. Use it to set a savings target, then check your actual balance in i-Akaun to see the gap.
How it affects your wallet6/7 What a RM5,000 earner is building toward 55
A single employee earning RM5,000 a month has RM550 deducted for EPF (11%) and the employer adds RM650 on top. e.g. That is RM1,200 a month going into the three accounts combined, before any dividend.
e.g. If that RM1,200 stays in KWSP for 30 years with no additional top-up, the 75% Akaun Persaraan slice alone would be RM324,000 in principal, before dividends. The calculator in i-Akaun estimates your savings target based on your expected lifestyle and projected monthly spending. Check your actual balance in i-Akaun to see the gap.
- 03/03
Monthly statement 21,000+ members already chose monthly payouts over lump sum Akaun Persaraan Age 55 (locked) Akaun Sejahtera Housing, health, education, approved purposes Akaun Fleksibel Any time, minimum withdrawal amount applies
Worth knowing7/7 Scam warning: KWSP will not ask for your OTP or bank login
If anyone calls or messages claiming to be KWSP and asks for your i-Akaun password, OTP or bank account number, hang up. Call the National Scam Response Centre at 997 and your bank immediately. The faster you report, the better the chance of freezing the money.
Questions people ask
Is i-Emas a new product I need to sign up for?
No. i-Emas is the rebranded name for the existing monthly-payout option at age 55 or 60. If you already chose monthly withdrawals, nothing changes. The name and messaging updated; the mechanics stayed the same.
Can I use i-Legasi to transfer EPF to a non-family member?
The report says transfers go to the nearest family member's KWSP account. The exact eligible list and percentage have not been published yet. Check kwsp.gov.my ↗ or the i-Akaun app for the full terms.
Does the Retirement Goal Calculator recommend a fund or dividend rate?
No. It estimates how much you need to save based on your expected lifestyle and projected monthly spending. It does not predict dividends or suggest which account to put money in.
Source: KWSP (EPF)Bank Negara MalaysiaAstro Awani
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