Good news! The RM300 subsidy from the KWSP i-Saraan government has been remitted to the account!
i-Saraan is a scheme launched by the Employees Provident Fund Board (KWSP) to encourage self-employed persons to contribute to their own provident fund. Self-employed persons who participate in i-Saraan will receive a 15% or up to RM300 subsidy from the government.
In previous years, i-Saraan’s subsidy will be credited to members’ CPF accounts in 2 installments, i.e. February and September. However, this year, the subsidy will be remitted 2 months late, at the end of November.
If you have participated in the KWSP i-Saraan program, you can open the KWSP i-Akaun APP and go to Transaction History to check if you have received RM300.
If you are new to i-Saraan, then here is the introduction of i-Saraan for you. for those who are interested in joining i-Saraan, first of all, you must be a Malaysian citizen and must be self-employed. Your age must be below 55 years old.
Attention! Only members who have registered to participate in i-Saraan will be eligible for government subsidy up to RM300. If you are not enrolled in i-Saraan and are making your own monthly CPF contributions, you will not be able to get the government subsidy.
In Budget 2024, the government is proposing to increase the subsidy amount of i-Saraan Self-employed Persons’ Contributory Provident Fund Scheme (SCPF) from the current maximum subsidy of RM300 to RM500 per year, but each person can only get a lifetime maximum subsidy of RM5,000.
If you want to get the full RM500 per year, you need to contribute RM3,334.
RM3,334 X 15% = RM500
