EPF Unveils i-Legasi for Family Savings

The Employees Provident Fund (EPF) is set to roll out i-Legasi, a digital scheme that lets members with sufficient balances transfer funds to their children without the existing RM100,000 annual cap. Launched in response to growing demand for intergenerational wealth tools, the platform will operate through the EPF’s mobile app, streamlining the process and reducing paperwork. Eligible contributors – typically those with at least RM150,000 in their accounts – can earmark up to 30% of their savings for their offspring, providing a tax‑efficient way to support education, housing or start‑up costs. By removing the yearly ceiling, i-Legasi encourages longer‑term financial planning and aligns with the government’s broader push for digital financial services. The move also reflects EPF’s commitment to modernise its offerings, ensuring members can manage retirement and family needs from a single, user‑friendly interface.

For EPF members with children, i-Legasi offers a practical route to boost their family’s financial security without the previous limits. It simplifies the transfer of savings, making it easier to fund education or property purchases, and helps members align retirement planning with their children’s future needs.

The scheme tackles a long‑standing pain point for contributors seeking to support their children’s milestones. By lifting the cap, EPF empowers members to use their retirement savings more flexibly, fostering intergenerational wealth building while still preserving the core purpose of the fund.