According KWSP, two new schemes, i-Lindung & i-Sayang will be launched this year. i-Lindung allows members to withdraw money to purchase insurance. While i-Sayang allows husbands to voluntarily transfer 2% of their contributions to their wives’ EPF accounts.
1. i-Lindung
Under the i-Lindung scheme, members can withdraw money from their EPF second account and then use the EPF platform to purchase life and critical illness insurance.
2. i-Sayang
Through this scheme, husband can voluntarily transfer 2% of his EPF contribution to his wife’s EPF account. The current monthly contribution rate for EPF members is 9% or 11%. With the implementation of this scheme, members who choose the 11% rate will have 2% of their contributions transferred to their wife’s EPF account.
