Will EPF Switch to an Automatic Annuity? It's Only a Proposal, and Withdrawal Rules Haven't Changed

The short answer: many people are searching for an "EPF automatic annuity" and worrying they won't be able to withdraw their savings in one go at 55. Neither EPF nor the government has announced any such plan. The idea came from a licensed financial planner speaking to the media on the sidelines of a conference. Current withdrawal rules are unchanged.

Information as of 4 November 2026.

Where the "automatic annuity" came from

• Who proposed it: licensed financial planner Rajen Devadason, speaking to Malay Mail at EPF's International Social Wellbeing Conference 2026 (reported 22 October). He is not an EPF official.
• What he suggested: a scheme modelled on Singapore's CPF LIFE, where a small portion of EPF savings would go into a lifetime annuity, with members able to opt out. Current withdrawal rules at 50, 55 and 60 would stay.
• EPF's response: the report includes no EPF statement and no government plan, decision or timeline.

In other words, it's one person's policy suggestion, not a new rule.

Why is everyone searching for it?

Google Trends shows more than 5,000 searches for "malaysia epf automatic annuity proposal" over the past 48 hours. Social media posts appear to have turned a "suggestion" into "coming soon".

JomGuide's reminder: don't trust social media headlines. For changes to EPF rules, rely on EPF's website and official statements. Watch out for scammers exploiting the topic, too, with fake ads urging you to "withdraw before the annuity starts". Fake EPF withdrawal ads did the rounds just last month; see EPF RM10,000 Special Withdrawal? It's a Scam.

How withdrawals at 55 and 60 work today

According to the government portal MyGOV:

• At 55: your Akaun Persaraan, Akaun Sejahtera and Akaun Fleksibel merge into Akaun 55. You can:
  • withdraw everything;
  • withdraw part of it; or
  • leave it in to keep earning dividends.
• Contributions after 55 go into Akaun Emas and can be withdrawn after 60.
• Prefer a monthly payout? EPF already offers optional monthly withdrawals through i-Emas. It's voluntary, not compulsory. See KWSP i-Emas: Monthly Withdrawals vs Lump Sum.

Annuity vs monthly withdrawals

FAQ

Has EPF confirmed an automatic annuity?

No. It's a financial planner's suggestion; neither EPF nor the government has announced it.

Can I still withdraw everything at 55?

Yes, under current rules. You can also withdraw part of it or leave it in your account.

Should I rush to withdraw now?

No. Nothing has changed, and under current rules you can't withdraw everything before 55 anyway.

What is Singapore's CPF LIFE?

Singapore's national lifetime annuity scheme, which pays a monthly income in retirement. The proposal borrows that model but adds an opt-out.