Nabil Luqman

0f9d2dd4f71434084e2b6094de1865e23abb37bb9f28ca51feeabee679ec9be2

Money

travel

China

payment

foreigner

public transport

easy

Tencent

TenPayGo

travel tool

Tencent has launched TenPayGo, a new mobile payment app designed to make it easier for international visitors to pay for goods, food and transport while travelling in China.
Developed by Tencent&rsquo;s Weixin Pay team, the app allows overseas travellers to link foreign-issued bank cards and selected international digital wallets without needing a Chinese mobile phone number.
The launch comes as China experiences growing inbound tourism, with Tencent looking to make its largely cashless payment ecosystem more accessible to international visitors. The app was unveiled at an international payment services event in Shenzhen, Guangdong, ahead of the Asia-Pacific Economic Cooperation (APEC) Economic Leaders&rsquo; Meeting scheduled to take place in the city in November.
No Chinese Phone Number Required
<img src="https://r2.myc.my/7d0599429863e5bab45a105d5b644fd1af8df8f7ae1b3802bc5541ba89bf6b12" />
One of TenPayGo&rsquo;s main features is its simplified registration process for overseas users.
Instead of requiring a Chinese mobile number, travellers can sign up using an email address and link payment methods issued in their home countries. The app supports bank cards from seven major international card networks, including Visa and Mastercard, as well as Apple Pay and around 60 overseas digital wallets.
Supported wallets include services such as Starryblu, Hipay and Octopus. However, the current list does not include Malaysian e-wallets such as Touch &rsquo;n Go eWallet or Boost.
Once a payment method is connected, users can scan and pay through TenPayGo at tens of millions of shops, restaurants and attractions connected to Tencent&rsquo;s Weixin Pay network.
This gives international travellers another option for making everyday payments in China without having to set up a local payment account.
TenPayGo is Tencent&rsquo;s first mobile payment app specifically designed for international visitors. The company&rsquo;s existing Weixin Pay service is integrated into WeChat, or Weixin as it is known in mainland China, which combines messaging, social media and digital payments in a single platform.
TenPayGo Also Supports Shenzhen Public Transport
&nbsp;<img src="https://r2.myc.my/a282917f8fcf06b25ebf1862406d618bd5e1f2ce925dff22cd0438c612456543" />
Beyond shopping and dining, TenPayGo is also designed to help overseas visitors get around China.
The app currently allows international travellers to activate a ride code for Shenzhen&rsquo;s bus and metro networks directly from their smartphones. Users do not need a local phone number or a physical transport card to access the service.
The transport integration is currently focused on Shenzhen, although Tencent says it plans to gradually introduce more local transportation and lifestyle services through the platform.
The move could make TenPayGo particularly useful for visitors attending major events in the city, including the upcoming APEC summit.
Shenzhen, one of China&rsquo;s major technology hubs, will host the APEC Economic Leaders&rsquo; Meeting in November. It will be the third Chinese city to host the event, following Shanghai in 2001 and Beijing in 2014.
AI Translation And Travel Tools
<img src="https://r2.myc.my/c485c0700b224e7cf6d762fb8422ea08e72b1957f0a023f29d960121b1de6ca5" />
Tencent is also positioning TenPayGo as more than just a payment app by incorporating tools aimed at helping international visitors navigate China.
One of its features provides instant menu translation, allowing travellers to use their smartphones to understand menus and order food more easily.
The app also includes an object-identification function that lets users scan and circle items on their screen to identify them, making it potentially useful when navigating unfamiliar surroundings.
Tencent has also said it is working with local banks on a tax-refund function. The planned feature is intended to support departure tax refunds for eligible overseas visitors, although details on its availability have yet to be announced.
Foreign Spending In China Is Rising
&nbsp;<img src="https://r2.myc.my/36aba044673be1b0f18d0a11dd2b3f5bf007c210edd1142d8124ada66ca7719c" />
The launch of TenPayGo comes as spending by international visitors in China continues to increase.
According to data from Weixin Pay, the value of transactions made by overseas e-wallet users in China rose by 80.6 per cent year-on-year during the first eight months of 2026. The number of transactions also increased by 81.8 per cent over the same period.
China has been seeking to attract more international visitors through measures including expanded visa-free travel arrangements and improvements to its tourism infrastructure.
Official figures cited by Xinhua showed that foreign nationals made nearly 61.29 million border crossings into and out of China between January and August 2026, representing a 19.5 per cent increase from the previous year. Visa-free entries accounted for 23.72 million of those crossings, up 26.8 per cent year-on-year.
The increase in international travel has also encouraged Chinese technology companies to expand support for overseas payment services.
Tencent has previously worked to connect international digital wallets to its payment network, allowing visitors to make purchases in China through payment services they already use at home.
In May, Tencent announced an integration with PayPal that allows eligible US travellers to make payments at Weixin Pay merchants in China through the PayPal app.
Tencent Looks To Make China Travel More Accessible
<img src="https://r2.myc.my/219c0bbebafbd5179522d93ed139cd072350f14cc5b7f9562dbb1a9579d589ea" />
TenPayGo represents another step in Tencent&rsquo;s efforts to bridge the gap between China&rsquo;s cashless payment ecosystem and international travellers.
Rather than requiring visitors to download WeChat or obtain a local Chinese phone number, the app brings payments, public transport and selected travel tools together in a platform specifically designed for overseas users.
Tencent has also said it will work with domestic online payment-clearing house NetsUnion to connect more overseas digital wallets to its payment network.
As international tourism to China continues to grow, TenPayGo could give foreign visitors a simpler way to pay for everyday expenses while also providing access to transport and travel-related services from a single smartphone.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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China’s cashless ecosystem just got more foreigner-friendly.

401e697b79cfcf8cf771944f182c78dfa582c7c862f93bff8976d3498e882aa2

Tencent Launches TenPayGo Payment App For Overseas Visitors Travelling To China

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AXE MLBB

Malaysia has recorded its highest-ever score in the Economic Freedom of the World index since it was introduced in 1970, although the country has slipped two places in the global rankings as other economies made faster progress.
According to the Center for Market Education (CME), Malaysia scored 7.57 out of 10 in the Economic Freedom of the World: 2026 Annual Report, improving slightly from 7.55 previously. Despite the record score, Malaysia fell from 33rd to 35th place among 165 countries and jurisdictions assessed.
In a statement issued on Monday, 19 October, the think tank said Malaysia's economic freedom had improved considerably since the beginning of the century. However, it warned that the latest ranking should not be a reason for complacency, particularly as other countries continue to implement reforms at a faster pace.
Malaysia Remains ASEAN's Second-Freest Economy
<img src="https://r2.myc.my/8afca5035a0d0b9972cef6b39abed3b1b25a2242bcf4ad10b2ed6e72a6f3234c" />
Despite its decline in the global rankings, Malaysia remains the second-freest economy in ASEAN, trailing only Singapore, which secured third place worldwide with a score of 8.43.
Malaysia continues to rank ahead of several regional economies, including Thailand in 57th place, Brunei and the Philippines in joint 61st place, and Indonesia in 72nd place.
Globally, Hong Kong topped the index with a score of 8.53, followed by Switzerland, Singapore, New Zealand and the United States.
Malaysia's score is also above the regional average of 6.99, indicating that the country's overall economic freedom remains relatively strong compared with its regional counterparts.
Nevertheless, the two-place drop highlights the difference between improving a country's own performance and keeping pace with other economies. Although Malaysia achieved a higher score, other countries made sufficient progress to overtake it in the rankings.
Malaysia's Economic Freedom Has Recovered Since the Asian Financial Crisis
&nbsp;<img src="https://r2.myc.my/f5efc3d20acd87b90e8ec65ca8a5facac8f825db5aaf4bd93400351a81f384e5" />
The CME noted that Malaysia has made considerable progress since the economic difficulties experienced during the Asian financial crisis.
According to the report, Malaysia scored 6.99 and ranked 36th in 1995 before its score fell to 6.12 in 2002 following the financial crisis, capital controls and policy disruptions.
The country's position deteriorated further, reaching 97th place in 2009. However, Malaysia has gradually improved its standing since then, reflecting its longer-term progress in economic freedom.
The latest score of 7.57 marks its strongest performance since the index was established, suggesting that Malaysia has made significant gains over the decades despite facing economic and policy challenges along the way.
The improvement also reinforces Malaysia's position as one of Southeast Asia's more economically open economies, although the latest ranking suggests there is still room for further reform.
Government Ownership Remains a Key Concern
&nbsp;<img src="https://r2.myc.my/f4d57510cb73caddb9a44fc4b7cd4032798a83df8448a27e7035f76a4597605b" />
CME chief executive officer Dr Carmelo Ferlito said Malaysia's monetary stability and relatively flexible labour market remained important strengths supporting its economic performance.
However, he warned that the government's extensive involvement in commercial activities continued to present a challenge.
According to Ferlito, government-linked companies (GLCs) and state-owned banks account for a substantial state presence in the economy, which he described as among the heaviest in the world.
He also raised concerns about public administration, stating that it had become less impartial since 2019.
While the country's record score is encouraging, Ferlito stressed that Malaysia should not become complacent as other economies continue to advance their economic reforms.
His comments highlight the ongoing debate over the role of government in the economy, particularly the balance between state participation, private-sector competition and market efficiency.
What Malaysia Needs to Do to Reach the Global Top 20
<img src="https://r2.myc.my/d231982ee21843486056da568c1d7911fcbe2fe9c0aefaf186ab4678a4075298" />
Ferlito said Malaysia would need to pursue further structural reforms if it hopes to break into the world's top 20 economies in the economic freedom rankings.
Among the measures he identified were reducing state ownership in the economy, ensuring that the civil service operates according to clear rules and remains impartial, simplifying the country's tariff structure, and opening markets to greater competition.
Reducing barriers to competition could help create more opportunities for private businesses, while clearer and more impartial public administration could support a more predictable business environment.
Simplifying tariffs could also make trade arrangements easier to navigate, potentially improving market access for businesses and investors.
However, the proposed changes would require sustained policy efforts rather than relying solely on incremental improvements in the country's overall score.
Record Score Shows Progress, But More Reforms Are Needed
Malaysia's latest economic freedom score represents a milestone, reflecting its recovery from the setbacks experienced in the aftermath of the Asian financial crisis and its subsequent improvement over the years.
Nevertheless, its fall to 35th place globally serves as a reminder that maintaining competitiveness requires continued progress as other countries strengthen their own economic policies.
With Malaysia still ranked second in ASEAN, the country has a relatively strong regional position. The challenge now is to translate that standing into further improvements in economic openness, market competition and public administration.
As highlighted by CME, reaching the global top 20 will require Malaysia to address the role of state-owned entities, strengthen impartial governance and create greater opportunities for competition.
Whether Malaysia can climb higher in future editions of the index will depend not only on maintaining economic stability, but also on how effectively it implements the reforms needed to keep pace with the rest of the world.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Malaysia hits a record economic freedom score, but slower progress sees it slip two places in the global rankings.

8aff757719fee624bd62c48b431ee701ba53f0cc9c3586a534cdcfc762f84e6c

Malaysia Achieves Highest Economic Freedom Score Since 1970, But Slips To 35th Globally

Ryt Bank customers can now make contactless payments using their Apple devices, following the launch of Apple Pay support for the bank&rsquo;s Ryt Card on 6 October 2026. The update allows customers to add their card to Apple Wallet and pay in stores, online and through supported apps without needing to take out their physical card.
With this addition, Ryt Bank becomes the first digital bank in Malaysia to support both Apple Pay and Google Pay. The bank introduced Google Pay support in January 2026, giving Android users access to mobile payments before extending the service to Apple users.
The latest update offers customers more flexibility in how they pay for everyday purchases, from buying groceries and grabbing coffee to shopping online. It also introduces another convenient way to make payments while benefiting from the security features built into Apple Pay.
How Apple Pay Makes Everyday Payments More Convenient
<img src="https://r2.myc.my/a06634d7f0de0d8f8ba130a5be85cd48b0017e061d6bbdda0e8e0a4cec6d2fdf" />
Apple Pay allows customers to use compatible devices, including iPhones and Apple Watches, to make contactless payments at participating merchants. Instead of carrying a physical card, users can simply authenticate their payment on their device and hold it near a compatible payment terminal.
The service also works for online purchases and in-app transactions at supported merchants, allowing users to complete payments without repeatedly entering their card details.
For customers who frequently use contactless payments, adding a card to Apple Wallet can make everyday transactions quicker and more convenient. It is particularly useful when heading out without a wallet, as payments can be made directly through a compatible Apple device.
Customers who use Android devices can continue to access Google Pay with their Ryt Card, meaning Ryt Bank now supports both major mobile wallet platforms.
Apple Pay Security Features Protect Your Card Details
<img src="https://r2.myc.my/724ed1fa5a195167b50cac4b7b977fbefb8d824b9a7a4435187ed13a5a0f9b5b" />
Beyond convenience, Apple Pay includes security measures designed to protect users&rsquo; payment information.
Each transaction must be authenticated through Face ID, Touch ID or the device&rsquo;s passcode, helping ensure that payments are authorised by the device&rsquo;s owner.
Apple Pay also uses a device-specific account number and a unique security code for each transaction, rather than sharing the actual card number with merchants. Apple states that card numbers are not stored on its servers, adding another layer of protection when customers make payments.
If an iPhone is lost or misplaced, users can also use Apple&rsquo;s Find My service to mark the device as lost and suspend Apple Pay on it.
However, users should still protect their devices with a secure passcode and keep their banking applications updated.
How To Add Your Ryt Card To Apple Pay
&nbsp;<img src="https://r2.myc.my/8f90cd0d321e69e0ce6a2eb0c2d2ed8edda25d579cd43fa930c406b9029d639d" />
Ryt Bank customers can add their Ryt Card to Apple Wallet through the bank&rsquo;s app or directly through the Wallet app on a compatible Apple device.
Option 1: Through the Ryt Bank app
<ol>
<li>Open the Ryt Bank app and navigate to the Cards tab.</li>
<li>Select the option to Add to Apple Wallet.</li>
<li>Follow the on-screen instructions to complete the setup.</li>
</ol>
Option 2: Through Apple Wallet
<ol>
<li>Open the Wallet app on your compatible Apple device.</li>
<li>Tap the + button to add a card.</li>
<li>Follow the instructions to add and verify your Ryt Card.</li>
</ol>
Once the setup is complete, you can use Apple Pay wherever the service is accepted. Depending on your device and setup, you may also be able to add the card to other compatible Apple devices.
What Is Ryt Bank?
<img src="https://r2.myc.my/7838122416fdb9288b2869284ae7342adcbab30c4e9ed6c8699fea2c795f1bbc" />
Ryt Bank is a licensed digital bank in Malaysia that provides banking services through a digital platform, allowing customers to manage their finances without relying on a traditional network of physical bank branches.
It is operated by YTL Digital Bank Berhad, a joint venture between YTL Digital Capital Sdn Bhd and Sea Limited, the parent company of Shopee and Garena. The bank offers digital banking services through its mobile app, including access to its Ryt Card.
As a digital bank, Ryt Bank focuses on providing customers with accessible banking services and digital tools for everyday financial management. Its support for Google Pay and Apple Pay expands the ways customers can use their Ryt Card for cashless transactions.
Which Other Banks Support Apple Pay In Malaysia?
Ryt Bank joins several established financial institutions that already support Apple Pay in Malaysia. These include AmBank, CIMB, Hong Leong Bank, HSBC, Maybank, RHB and Standard Chartered.
Wise Payments Malaysia is also listed by Apple as a participating card issuer, although availability can vary depending on the issuer and card type.
With Apple Pay now available for the Ryt Card, Ryt Bank customers have another option for making secure, convenient payments using their preferred devices. The move also strengthens the bank&rsquo;s digital payment offerings, allowing both iPhone and Android users to enjoy mobile wallet convenience.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Your Ryt Card just got more convenient, with seamless cashless payments.

83a7b0eb032eccc584cde4e6a36238f2fc261c203d052ed405a69689184ad951

Ryt Bank Adds Apple Pay Support, Becoming Malaysia’s First Digital Bank To Offer Apple Pay And Google Pay

Malaysians can now access a new savings and protection plan directly through ShopeePay following an expanded partnership between ShopeePay Malaysia and Zurich Life Insurance Malaysia Berhad (ZLIMB).
The new Zurich Savings &amp; Protection Plan combines savings with life and disability protection, giving users a way to build their financial future while receiving additional coverage. The two-year plan currently starts from a single premium of RM500, with the minimum entry amount set to be lowered to RM100 in the near future.
The partnership was officially launched in Kuala Lumpur on 7 October 2026 under the theme &ldquo;Everyday Protection, Made For All&rdquo;, marking the first time ShopeePay's digital distribution partnership with Zurich has extended to its life insurance business.
What Does The Zurich Savings &amp; Protection Plan Offer?
<img src="https://r2.myc.my/02d8fdee262be6b2445a734c559a9c007eed48e7b28876a54e5e86c1b9cf1734" />
The Zurich Savings &amp; Protection Plan is a two-year, single-premium endowment plan designed to combine savings growth with life protection.
One of its key features is guaranteed cash payouts every six months, allowing policyholders to receive regular payments throughout the two-year period. The plan also provides life and disability protection equivalent to 105% of the premium paid, with the benefit payable to the policyholder or beneficiaries according to the terms of the policy.
At the end of the two-year maturity period, policyholders receive 100% principal protection, subject to the applicable terms and conditions.
There are also flexible early cash-out options for those who may need access to their money before the plan reaches maturity. However, the amount received through an early cash-out may differ from the maturity benefit, so customers should review the relevant terms before purchasing.
How To Purchase The Plan On ShopeePay
<img src="https://r2.myc.my/8d9b3b8f382f3a162388fedb4e0ec88f82a040875e60c04fc2328acdf87b31af" />
The Zurich Savings &amp; Protection Plan is available directly through the ShopeePay app, allowing users to access the product digitally without having to visit an insurance branch.
To find the plan, users can open the ShopeePay app and select &ldquo;Insurance&rdquo; from the homepage, followed by &ldquo;Endowment&rdquo;.
The launch expands ShopeePay's existing relationship with Zurich. The platform already works with Zurich General Insurance Malaysia Berhad and Zurich General Takaful Malaysia Berhad, but this is the first time its digital distribution partnership has extended to Zurich's life insurance arm.
It also builds on the earlier availability of Zurich Critical Illness insurance through the platform.
Entry Premium To Be Lowered To RM100
<img src="https://r2.myc.my/41239d4b6ec3e4396504fea8aac52d5404aaf336d4b389c532e5e6030b04823c" />
The plan currently requires a minimum premium of RM500, but Zurich and ShopeePay are planning to reduce this to RM100.
While the lower entry point has not yet been implemented, it could make the product more accessible to Malaysians who want to start building financial protection with a smaller initial commitment.
Both companies said the broader goal is to make insurance and financial protection more accessible through digital platforms that consumers already use in their everyday lives.
Junior Cho, Country CEO of Zurich Malaysia, highlighted that Malaysia's protection gap is closely linked to accessibility, saying insurers need to reach consumers where they already are rather than expecting them to seek out traditional channels.
Family Takaful Plans Coming Next Year
<img src="https://r2.myc.my/ce24b27f03d837ea0488d1e9954160c6552ede6a05201dc8e2d393731223dbe1" />
The partnership is also expected to expand into family takaful in 2027.
ShopeePay and Zurich Takaful Malaysia Berhad plan to introduce family takaful products through the platform, giving users access to Syariah-compliant protection alongside conventional insurance options.
Family takaful provides life and financial protection based on Syariah principles, offering Malaysians another option when planning for their long-term financial needs.
Zurich Savings &amp; Protection Plan At A Glance
For those considering the new product, here are the key details:
<ul>
<li>Minimum premium: RM500</li>
<li>Planned future minimum: RM100</li>
<li>Plan duration: Two years</li>
<li>Payment structure: Single premium</li>
<li>Guaranteed cash payouts: Every six months</li>
<li>Life and disability protection: 105% of premium paid</li>
<li>Principal protection at maturity: 100%</li>
<li>Early cash-out: Available, subject to the plan's terms</li>
<li>Available on: ShopeePay app</li>
<li>Access: Insurance &rarr; Endowment</li>
<li>PIDM protection: Benefits are protected by PIDM, subject to applicable limits</li>
</ul>
With the new Zurich Savings &amp; Protection Plan, ShopeePay is expanding beyond everyday payments and general insurance into life insurance, giving Malaysians another digital option to combine savings and financial protection.
The planned RM100 entry point and upcoming family takaful offerings could further widen access to financial protection, although customers should always review the product's terms, benefits and conditions before committing.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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No insurance yet? This could be a simple way to start building financial protection.

0e59542d0735bf57c67f70ff72f64333a4ebc4b0d97c8c2f168a0ff63fa9a947

ShopeePay And Zurich Launch Two-Year Savings And Protection Plan From RM500

Only 39% of active Employees Provident Fund (EPF) members in Malaysia&rsquo;s formal sector are currently on track to meet the fund&rsquo;s Basic Savings benchmark by the age of 60, highlighting the challenge of ensuring Malaysians have enough money to support themselves throughout retirement.
Prime Minister Datuk Seri Anwar Ibrahim said the proportion of members meeting the age-based Basic Savings benchmark increased from 36% in June 2025 to 39% in June 2026.
While this represents progress, around six in 10 active formal-sector EPF members remain below the benchmark for their age.
The government is targeting for six in 10 EPF members to meet the Basic Savings benchmark by 2030 under the EPF&rsquo;s Retirement Income Adequacy (RIA) framework.
What Is The RM390,000 EPF Savings Target?
<img src="https://r2.myc.my/094d4f6f9a830c467627a3083a59c1631eb6cf3f98094ae48e08266cbe4c034e" />
The RM390,000 figure is the EPF&rsquo;s full Basic Savings level under its three-tier Retirement Income Adequacy framework, which took effect in 2026.
The RIA framework is designed to give members a clearer guide to how much they may need for retirement. It consists of three savings levels:
<ul>
<li>Basic Savings: RM390,000</li>
<li>Adequate Savings: RM650,000</li>
<li>Enhanced Savings: RM1.3 million</li>
</ul>
Basic Savings is intended to cover essential retirement needs, while Adequate Savings aims to support a reasonable standard of living. Enhanced Savings represents a higher level of financial security in retirement.
According to EPF, RM390,000 is designed to support an initial monthly withdrawal of around RM1,625 in the first year of retirement, with the framework projecting withdrawals over 20 years from age 60 to 80.
The RM390,000 Benchmark Is Being Phased In
<img src="https://r2.myc.my/e6cb2d5631158eb97bdc73790e51aedeceee88bc865de1df4b151f201e1121f5" />
Although RM390,000 is the full Basic Savings benchmark at age 60, members are not expected to reach the amount immediately.
EPF is gradually introducing the target over five years to give members time to adjust to the higher savings benchmark.
The schedule is:
<ul>
<li>2026: RM270,000</li>
<li>2027: RM300,000</li>
<li>2028: RM330,000</li>
<li>2029: RM360,000</li>
<li>2030: RM390,000</li>
</ul>
The benchmark is also age-based, meaning members are assessed against the amount appropriate for their age rather than being expected to have RM390,000 at any point before the full target takes effect.
Why Retirement Savings Remain A Concern
<img src="https://r2.myc.my/52182c09071739d833d3baddd6f9a8a7636a9bb4cb4f46c70e3fa92d408bfb79" />
Anwar said the latest figures showed progress, but warned that too many Malaysians remain at risk of running out of savings during retirement.
With retirement potentially lasting 20 to 25 years, the issue is not simply accumulating a large lump sum but ensuring those savings can provide a sustainable income throughout retirement.
Speaking at the EPF International Social Wellbeing Conference 2026, Anwar also highlighted the financial pressures facing households today.
He said retirement planning cannot be viewed purely as a matter of financial literacy when many households are already dealing with immediate expenses such as food, rent and education.
This means the ability to save for retirement is closely linked to having sufficient and stable income. Retirement security therefore also depends on wages, decent employment and the ability to contribute consistently.
Informal And Gig Workers Remain Part Of The Challenge
<img src="https://r2.myc.my/379ead4e522887f28a70b190fe51084bd10ab1c9c743c7f4476279e7a5af34fe" />
Another challenge is extending retirement savings coverage to Malaysians working outside conventional formal employment.
The growth of self-employment, gig work and other non-traditional forms of employment means some workers may not receive regular employer contributions to their EPF accounts.
The government has introduced initiatives to broaden coverage, including i-Saraan, which provides incentives for eligible self-employed and informal workers who contribute to EPF.
There is also i-Saraan Plus, which provides additional support for eligible e-hailing and p-hailing workers, while i-Suri has been expanded to support retirement savings among women involved in unpaid care work.
These programmes aim to encourage more Malaysians outside traditional employment to build retirement savings.
EPF Shifts Focus From Savings To Retirement Income
<img src="https://r2.myc.my/dce895ff83854520641db177e2f062d4bde7a0b11c289be0f00857338c4e3ef9" />
EPF chairman Tan Sri Mohd Zuki Ali said retirement planning should not focus solely on how much money members have accumulated. Instead, members need to consider how their savings can provide a sustainable income throughout retirement.
This approach is reflected in the RIA framework, which connects savings levels with potential retirement income rather than treating EPF savings simply as a lump sum. EPF has also introduced measures to help members manage their savings over a longer retirement period.
One is i-Emas, which provides regular monthly payments under the existing Age 55/60 Withdrawal facility. As of June 2026, more than 25,000 members had opted for monthly withdrawals, including more than 7,000 aged 55 and more than 19,000 aged 60.
Another initiative, i-Legasi, allows eligible members with savings above the RM650,000 Adequate Savings level to transfer eligible excess savings to the EPF accounts of immediate family members.
Government Expands Support For Older Malaysians
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<img src="https://r2.myc.my/019711301cc9d428487370e4deba8a076a5d9bb64a1c4be910cb5006b512c012" /> &nbsp; &nbsp; &nbsp; &nbsp;
Retirement security is also being addressed beyond EPF savings.
Under Budget 2026, the government allocated RM1.26 billion for senior citizen welfare, with the funding expected to benefit around 180,000 older Malaysians through assistance and activity centres.
Anwar also highlighted the need for a more comprehensive care system for Malaysia&rsquo;s ageing population, covering community support, nutritious meals and home assistance, as well as day care, home nursing and residential care for older people who are frail or living with dementia.
He said access to essential care should be based on need rather than solely on an individual&rsquo;s ability to pay.
What The Latest EPF Figures Mean
The increase from 36% to 39% of active formal-sector EPF members meeting their age-based Basic Savings benchmark shows some improvement in retirement preparedness.
However, the figures also underline the scale of the challenge ahead.
The government aims to increase the proportion to 60% by 2030, while the full Basic Savings benchmark gradually reaches RM390,000 at age 60.
For EPF members, the RIA framework provides a clearer reference point for assessing whether their savings are keeping pace with their age and expected retirement needs.
Ultimately, retirement planning is not just about reaching a particular savings figure. It is also about ensuring Malaysians have sufficient income, savings and social support to sustain themselves through what could be decades of retirement.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Surviving today while saving for tomorrow isn’t easy. Are Malaysians earning enough to do both?

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Only 4 In 10 Malaysians On Track For RM390K EPF Savings By 60, Govt Targets 60% By 2030

When financial difficulties pushed his company into a deficit, entrepreneur Ade Azhar Ismail found himself with just RM33 left in his savings account.
Rather than give up, he returned to his roots by selling nasi lemak from the boot of his car in Seksyen 9, Shah Alam.
Ade, who has spent almost 16 years as an entrepreneur and previously earned a five-figure income as the CEO of his own distribution company, admitted that returning to roadside selling was not an easy decision.
However, what started as a way to generate an income during a difficult period eventually grew into a new business venture, earning RM9,000 in profit in its first month.
From A 60-Person Team To Just 14 Employees
<img src="https://r2.myc.my/cf92a83a942ce74a504298cf652ac29d98be7cd1b0834263d46c441f42918413" />
According to Harian Metro, Ade has never worked a salaried job, having started his business journey through direct selling by selling toys.
In 2009, he became the CEO of his own company, which distributed products including air fresheners, storybooks, children's books, educational reading materials and books on the life of the Prophet.
At its peak, the company had around 60 employees. However, its sales team gradually shrank, with Ade saying only 14 employees remain. Many of those who left were Gen Z workers who were no longer interested in direct selling.
The loss of his sales team, along with several business partners leaving, affected the company's operations and contributed to it running at a deficit from the middle of last year.
Despite the difficulties, the company remains operational. Ade decided not to draw a CEO's salary and instead started selling nasi lemak, using the proceeds as his income while putting the remainder towards the company.
He Initially Felt Embarrassed Selling By The Roadside
&nbsp;<img src="https://r2.myc.my/b7ec3f45c98ecc6c42285cd1b169c7d6e8549bc666154f85287c920a1fe20e0e" />
Returning to street trading was not easy for someone who had spent years running a company.
Ade admitted that he initially felt embarrassed about facing his siblings, relatives and employees while selling nasi lemak from his car boot.
However, he eventually put those feelings aside after remembering that his own business journey had started with direct selling. Friends and fellow business owners also supported him by visiting his selling spot and buying nasi lemak.
Ade said his family was initially unaware of the difficulties he was experiencing. His wife only found out about his new venture on the 15th day.
Since he sourced the nasi lemak from a distant relative rather than preparing it himself, she did not realise that he had started selling food by the roadside.
Started With Just 30 Packets
<img src="https://r2.myc.my/68932fc7fbd98fde9bd69359473fda02724b295f6ccf631d152f2de14866efb4" />
Ade's first day began with just 30 packets of nasi lemak.
He recalled feeling discouraged and even like a &ldquo;loser&rdquo; before starting, but his confidence grew once customers began buying. By the end of the day, all 30 packets had been sold.
Encouraged by the response, he continued with the business. A video of him selling nasi lemak later went viral on social media, bringing more attention to his venture.
Ade said his first month's profit reached RM9,000. By his 53rd day of selling, he had started recruiting workers and expanded the car-boot business to five additional locations.
Now Selling Up To 1,200 Packets A Day
&nbsp;<img src="https://r2.myc.my/c5e76c6739f906f07afa74a89acbceb97bb75ff486044155d6b618a30926b2ca" />
By the 81st day, Ade and his team were selling as many as 1,200 packets of nasi lemak a day.
The business operates in two shifts, with the first beginning at 8.30am and the second starting at 5pm and continuing until the nasi lemak is sold out.
Roadside trading comes with challenges, from unpredictable weather to keeping up with growing demand. Despite this, Ade said they had sold out every day from the first day through to his 81st day.
Although the work is tiring, he said he enjoys meeting customers, including those who travel from far away to support his business.
&ldquo;Let Go Of Embarrassment And Ego&rdquo;
Ade sees the experience as an opportunity to reflect on his past mistakes and make improvements.
For others facing financial or business difficulties, he advised them not to let embarrassment or pride stop them from finding a way forward.
&ldquo;Let go of embarrassment and ego. Find a way out of your problems,&rdquo; he said.
Ade also encouraged people to make use of whatever experience and resources they already have instead of being afraid to start again.
&ldquo;Don't be afraid to start and, God willing, we can rise again and rebuild what we once worked for, even if we have to start from the bottom,&rdquo; he said.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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