EPF Introduces i-Legasi, i-Emas and Retirement Goal Calculator: What Employers and Employees Should Know

The Employees Provident Fund (EPF) has introduced three new initiatives — i-Legasi, i-Emas, and the Retirement Goal Calculator — to help Malaysians better prepare for retirement and strengthen financial security across generations.

Announced on 11 May 2026, these initiatives aim to support members at different stages of their retirement journey, from building savings and planning future goals to managing retirement income more sustainably.

According to EPF Chief Executive Officer Ahmad Zulqarnain Onn, retirement planning should focus not only on accumulating savings but also on ensuring those savings can provide sufficient income throughout retirement while helping create a stronger financial future for loved ones.

Why Retirement Planning Matters More Than Ever

Retirement planning is becoming increasingly important as Malaysians are living longer and facing higher living costs.

While building retirement savings remains essential, having enough money saved is only part of the equation. Retirees also need to ensure their savings can support them throughout retirement, which may last 20 years or more.

Many retirees face common challenges such as:

Rising healthcare costs
Inflation and increasing daily expenses
Unexpected financial emergencies
The risk of running out of retirement savings too early

Recognising these challenges, EPF introduced i-Legasi, i-Emas, and the Retirement Goal Calculator to help members not only accumulate savings but also make informed decisions about managing and preserving their retirement funds.

What Is i-Legasi?

i-Legasi is a new facility that allows eligible EPF members to transfer a portion of their retirement savings to their immediate family members after reaching the full withdrawal age.

The initiative is designed to strengthen intergenerational financial security by allowing members with sufficient retirement savings to help their loved ones build their own retirement funds.

Who Can Transfer Their Savings?

Members who wish to transfer their savings (transferors) must:

Be aged 55 or 60 and above
Have savings above the Adequate Savings benchmark under the Retirement Income Adequacy (RIA) Framework
Transfer only the amount that exceeds the Adequate Savings level
Be allowed to transfer to more than one family member, provided their remaining balance stays above the Adequate Savings threshold

Who Can Receive the Savings?

Eligible recipients (transferees) include:

Spouses
Children
Malaysian citizens or Permanent Residents who are EPF members
Individuals below the national minimum retirement age of 60

There is no limit on the amount a recipient can receive.

How Does i-Legasi Work?

The transfer will come from savings that are already available for withdrawal.

Savings will be transferred:

From the transferor's Akaun 55, or Akaun Emas for members aged 60 and above
Into the recipient's Akaun Persaraan, or Akaun Emas if the recipient is aged 55 to 59

This ensures the transferred funds remain preserved as retirement savings rather than being immediately withdrawn.

Example of an i-Legasi Transfer

For example, if a member has RM800,000 in EPF savings and the current Adequate Savings benchmark is RM650,000, only the excess RM150,000 may be eligible for transfer, subject to EPF's requirements.

The member's remaining savings must continue to meet the Adequate Savings benchmark after the transfer.

What Is i-Emas?

EPF has also rebranded the existing monthly payment method under the Age 55/60 Withdrawal scheme as i-Emas.

Instead of withdrawing all their retirement savings in one lump sum upon reaching age 55 or 60, members can choose to receive automated monthly payments while keeping their remaining savings invested within EPF.

The remaining balance will continue earning annual EPF dividends.

Why Is i-Emas Important?

According to EPF, more than 21,000 members have already chosen monthly withdrawals after reaching retirement age.

A gradual withdrawal approach can help retirees manage their finances more effectively over the long term.

Benefits of i-Emas include:

Providing a regular monthly income stream
Reducing the risk of spending retirement savings too quickly
Lowering exposure to financial scams and fraud
Allowing remaining savings to continue earning dividends
Supporting more sustainable retirement income management

For retirees looking for a balance between flexibility and long-term financial security, i-Emas offers an alternative to withdrawing their entire EPF balance at once.

Should You Withdraw All Your EPF Savings at Age 55?

Many Malaysians choose to withdraw their EPF savings once they become eligible at age 55. While this provides immediate access to retirement funds, it may also increase the risk of depleting savings too quickly.

For example, a retiree who withdraws RM500,000 in full may face financial difficulties if the funds are spent faster than expected or if unexpected expenses arise later in life.

This is one of the reasons EPF introduced i-Emas, which allows members to receive monthly payments while keeping the remaining balance invested and earning dividends.

For retirees who prefer a more structured approach to managing their finances, monthly withdrawals may help provide greater long-term financial stability.

Retirement Goal Calculator Now Available on KWSP i-Akaun

Alongside i-Legasi and i-Emas, EPF has launched the Retirement Goal Calculator, a digital planning tool available through the KWSP i-Akaun application.

The calculator helps members estimate future retirement needs based on their expected lifestyle and projected expenses.

What Can the Retirement Goal Calculator Help With?

Members can use the tool to:

Estimate future retirement expenses
Assess retirement savings needs
Identify potential savings shortfalls
Compare current savings against future goals
Plan based on their preferred retirement lifestyle

Through personalised projections, members can gain a clearer picture of their retirement readiness and take steps to improve their long-term financial position.

EPF Retirement Savings Benchmarks

Under the Retirement Income Adequacy (RIA) Framework, EPF currently uses the following savings benchmarks:

Savings Level	Amount
Basic Savings	RM390,000
Adequate Savings	RM650,000
Enhanced Savings	RM1.3 million

These benchmarks serve as a guide to help members evaluate whether their retirement savings are likely to support their desired lifestyle after retirement.

For i-Legasi, only savings above the Adequate Savings benchmark are eligible for transfer.

What Does Adequate Savings Mean?

According to EPF's Retirement Income Adequacy (RIA) Framework, the Adequate Savings benchmark of RM650,000 is designed to support a retirement income of approximately RM2,700 per month for 20 years after retirement.

While every individual's financial needs will differ, this benchmark provides a useful reference point for members when assessing their retirement readiness.

Members can use the RIA benchmarks to understand whether they may need to increase contributions, adjust retirement goals, or strengthen their long-term financial planning.

How HR Teams Can Support Employees' Retirement Planning

Although these initiatives are designed for EPF members, employers and HR professionals can also play an important role in promoting financial wellbeing in the workplace.

Employees who understand their retirement goals and financial position are often better equipped to make long-term financial decisions and may experience lower levels of financial stress.

HR teams can support employees by:

Sharing information about new EPF initiatives such as i-Legasi and i-Emas
Encouraging employees to use the Retirement Goal Calculator through KWSP i-Akaun
Organising financial literacy or retirement planning sessions
Including retirement awareness programmes as part of employee wellbeing initiatives
Promoting the importance of long-term financial planning

As financial wellbeing becomes an increasingly important workplace topic, helping employees prepare for retirement can contribute to stronger employee engagement and overall wellbeing.

What Employees Should Do Next

With these new initiatives now available, employees may wish to take several proactive steps.

Review Your Current EPF Savings

Compare your current balance against the latest RIA savings benchmarks to understand where you stand.

Explore the Retirement Goal Calculator

Use the calculator available through KWSP i-Akaun to assess whether your current savings trajectory aligns with your retirement goals.

Consider Your Retirement Income Strategy

Members approaching retirement may wish to evaluate whether i-Emas could provide a more structured and sustainable income stream compared to a full withdrawal.

Discuss Family Retirement Planning

Members with savings above the Adequate Savings level may consider whether i-Legasi could form part of their family's long-term financial planning strategy.

Conclusion

The introduction of i-Legasi, i-Emas, and the Retirement Goal Calculator reflects EPF's continued efforts to help Malaysians prepare for retirement beyond simply building savings.

Through i-Legasi, members can help strengthen the retirement future of their loved ones. Through i-Emas, retirees can manage their savings through structured monthly income while continuing to earn dividends. Meanwhile, the Retirement Goal Calculator provides a practical way for members to assess whether they are on track to meet their retirement goals.

As Malaysians face longer life expectancy and rising living costs, taking a proactive approach to retirement planning has never been more important. These new initiatives provide members with additional tools and flexibility to build a more secure financial future for themselves and their families.

FAQs

What is i-Legasi?

i-Legasi is a facility that allows eligible EPF members aged 55 and above to transfer a portion of their retirement savings to their spouse or children, subject to EPF's conditions.

Can I transfer all my EPF savings through i-Legasi?

No. Only the portion of savings above the Adequate Savings benchmark may be eligible for transfer.

Who can receive savings under i-Legasi?

Only immediate family members, specifically spouses and children who meet EPF's eligibility requirements.

What is i-Emas?

i-Emas is the rebranded monthly payment method under the Age 55/60 Withdrawal scheme, allowing members to receive retirement income through monthly withdrawals instead of withdrawing all their savings at once.

Will my remaining savings continue earning dividends under i-Emas?

Yes. Any remaining balance retained in EPF will continue earning annual dividends.

Where can I access the Retirement Goal Calculator?

The Retirement Goal Calculator is available through the KWSP i-Akaun application.

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