Can I still receive the 15% government subsidy for my CPF contributions in 2023? We will have to wait for the budget to be presented on February 24 to find out.
To encourage self-employment, the government has launched the i-Saraan Self-employed Provident Fund (SEPF) scheme from 2018. Through the i-Saraan scheme, self-employed people can receive a government subsidy of 15% or a maximum of RM250 after making their own CPF contributions.
The former government proposed in the 2023 Budget presented on October 7 that the government increase the i-Saraan subsidy from a maximum of RM250 to a maximum of RM300, meaning that self-employed individuals who contribute to the CPF will be able to receive a maximum of RM300 government subsidy.
Moreover, the former government also proposed to raise the limit of self-contributed provident fund from RM60,000 to RM100,000 per year for the self-employed.
However, with the dissolution of the former government on October 10, the budget was not passed in time for the parliamentary session, so it is still uncertain whether the government will increase the subsidy to RM300 and raise the annual contribution limit to RM100,000.
From the previous message from Prime Minister Datuk Seri Anwar, the current government will review the policies introduced by the previous government and keep the policies that are beneficial to the people.
