Image Credit: National Kini

KWSP announced that a total of 1.4 million members aged between 40 and 54 years old will receive an additional RM500 contribution incentive from the government, amounting to a total of RM708 million. The award was distributed to members who have RM10,000 and below in their KWSP first account as of Feb 24, 2023, the release stated.

“This RM500 one-off contribution bonus was announced during the presentation of the Budget 2023 on February 24, 2023 to encourage EPF members with low deposits who are close to retirement age to continue saving and to accelerate the accumulation of retirement savings.”

Epf

“This is in line with KWSP’s objective to increase retirement savings adequacy and make a significant contribution to the broader goal of building a more resilient financial future.

For information on the Additional Contribution Bonus, please visit KWSP’s website at www.kwsp.gov.com or the Customer Management Center at 03-8922 6000.

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