good news! KWSP i-Saraan The RM300 subsidy provided by the government has been credited to your account!
i-Saraan is a scheme launched by the Employees Provident Fund Board (KWSP) to encourage self-employed people to contribute to their provident funds. Self-employed people who participate in i-Saraan will receive a subsidy of 15% or up to RM300 from the government.
Based on the situation in previous years, i-Saraan’s government subsidy will be remitted to members’ provident fund accounts in two installments, that is, once in the first half of the year and once in the second half of the year. The provident fund paid by oneself in the first half of the year will only receive government subsidies in the second half of the year. As for provident fund self-payments in the second half of the year, subsidies will be received in the first half of the following year.
If you have participated in the KWSP i-Saraan program, you can open the KWSP i-Akaun APP and download the 2024 EPF Statement to see if you have received RM300.
It is worth mentioning that if you have received the i-Saraan RM300 subsidy in November last year, you will not be able to get the RM300 this time. Because each member can receive up to RM300 subsidy per year.
If this is your first time coming into contact with i-Saraan, then here is an introduction to i-Saraan. For those who are interested in joining i-Saraan, you must first be a Malaysian citizen and self-employed. You must be under 55 years old.
Notice! Only members who have registered to participate in i-Saraan will receive a subsidy of up to RM300 from the government. If you do not register to participate in i-Saraan and pay your own provident fund every month, you will not be able to receive government subsidies.
In the 2024 Budget, the government announced an increase in the subsidy amount of the i-Saraan self-employed provident fund scheme, which means that the maximum annual subsidy will be increased from the current RM300 to RM500. However, each person can only receive a maximum subsidy of RM5,000 in a lifetime.
If you want to get the full RM500 subsidy provided by the government every year, then you need to pay RM3,334 out of pocket.
RM3,334 X 15% = RM500
