Stimulus Package 2020: Minimum EPF contribution by employees to be reduced to 7%, effective Apr 1 to Dec 31, 2020

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Minimum EPF contribution by employees to be reduced by 4% from 11% to 7%, with effect from Apr 1 to Dec 31, 2020. This will potentially unlock up to RM10 billion worth of private consumption. Malaysian workers have the option to opt out from the scheme and maintain their contribution rate.

See also:
Government unveils RM20b stimulus package to boost spending
Speech by Interim Prime Minister Tun Dr Mahathir Mohamad