EPF Encourages Cross-Border Workers to Self-Contribute
Malaysian workers with Singapore work permits are being urged to voluntarily contribute to the Employees Provident Fund (EPF) to boost their retirement savings. This initiative is particularly relevant for the approximately 300,000 to 400,000 Malaysians who commute daily to Singapore.
According to Nor Azhar Abdul Mokti, the regional director of EPF (Southern), these workers are not obligated to contribute to Singapore's Central Provident Fund (CPF). However, he emphasizes that the number of affected individuals is significant and cannot be overlooked.
EPF is keen to engage with associations or groups representing those who work across the Malaysia-Singapore causeway. The main challenge, as Nor Azhar explains, is the timing of their daily commute, which often starts early in the morning and ends late in the evening.
To address this, EPF aims to raise awareness among these workers. The self-contribution option is available to Malaysians or Malaysian permanent residents under 75 years old who are registered with the EPF. Contributions are tailored to individual financial capabilities.
Nor Azhar encourages Malaysians in Singapore to start contributing voluntarily to maximize the benefits. While Singaporeans and permanent residents are mandatorily required to contribute to CPF, foreign workers on work permits are exempt. As a result, Malaysians receive a gross salary without any deductions.
Nor Azhar also highlights the potential for children as young as 15 to contribute through EPF's I-Simpan and I-Topup programs. Parents or guardians can accompany their children to the nearest EPF office, where officers will assist in opening accounts, with a minimum contribution of RM10.
The EPF Southern Region, covering Johor, Melaka, and Negri Sembilan, boasts 14 branches across Johor (Johor Baru, Kulai, Batu Pahat, Muar, Segamat, Kluang, Pasir Gudang, and Mersing), Melaka (Bandar Melaka, Alor Gajah, and Jasin), and Negri Sembilan (Seremban, Nilai, and Bahau).
This initiative is part of EPF's efforts to ensure that cross-border workers can plan for their financial future, offering a valuable service to a significant segment of the Malaysian workforce.
