Newly registered members of the Provident Fund increased by 57%.
According to the news issued by Finance Minister Tengku Zafrul, the membership of the Employees Provident Fund Board (KWSP) increased by 146,000, or 57 percent, in the first quarter of this year.
In addition, the number of self-employed individuals participating in i-Saraan also jumped by 77% in the first quarter of this year to a total of 599,000 self-contributing members.
i-Saraan is the government’s subsidized Self-contributing Provident Fund (EPF) scheme. Through this scheme, the government will provide a subsidy of up to 15% or a maximum of RM250 to the self-employed who contribute to the EPF.
