{
  "id": 10869382,
  "title": "Progressive contributions could boost retirement savings, says ex-EPF chief",
  "url": "https://urgent.news/2026/09/30/progressive-contributions-could-boost-retirement-savings-says-ex-epf",
  "topic": "world",
  "section": "World",
  "published": "2026-09-30T05:24:16.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/09/1544506/progressive-contributions-could-boost-retirement-savings-says-ex"
  },
  "original_language": "en",
  "account": "Axiata Group chairman Tan Sri Shahril Ridza Ridzuan, a former EPF chief executive officer, proposed a progressive contribution structure for the Employees Provident Fund (EPF) during the International Social Wellbeing Conference (ISWC) 2026. The idea aims to help lower-income workers build their retirement savings faster while reducing the burden on businesses. Shahril suggested that employers could contribute 15-16% for workers earning below RM5,000 and 4% for those earning above RM10,000. This approach could also encourage businesses to increase wages, as Malaysian wages have not grown quickly enough to keep up with the rising cost of living. Shahril also proposed a separate mechanism to boost retirement savings for gig workers, who currently do not receive employer EPF contributions. He suggested a small tax on platform revenue to fund matching contributions for gig workers, compensating for the lack of benefits provided by structured employment.",
  "summary": "KUALA LUMPUR: Employers could contribute more to the Employees Provident Fund (EPF) for lower-income workers and less for higher earners under a progressive contribution structure proposed by Axiata Group Bhd chairman Tan Sri Shahril Ridza Ridzuan.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}