PETALING JAYA: With no formal employment, homemakers, too, are looking to have their own safety net for their future.

       Some have expressed interest in having their own social security through the Employees Provident Fund’s (EPF) i-Suri scheme.

       This comes following the good dividend payout of 6.1% declared by the government for 2021 for conventional savings recently.

       The scheme was introduced in 2018 for wives of household heads, female heads of household who are widowed, divorced or single mothers as well as housewives who are registered in the national database on poverty (eKasih).

       Prema Pekasam, 50, from Petaling Jaya, said she had heard of the scheme and was keen on having her own EPF account but she simply had not been able to find the time to sign up for it.

       Prema said her husband works as an aircraft engineer in Guangzhou, China, but the amount he sends monthly only covers household and education expenses of her three children.

       This prompted Prema to start a home-based catering business for some extra cash.

       “I thought through my catering I can contribute a certain amount under i-Suri for my own savings in future. It is much better than nothing.

       “This pandemic has hit us hard, so I want to find an opportunity to help with our expenses and savings. For me, i-Suri is a good way to save up for a rainy day,” she said.

       “I need to go to the Puchong branch. I will definitely go, it will be helpful for me,” she said.

       Nora Ismail, 40, from Penang, said she too is keen to have her own savings for her old age.

       “I have been thinking about it as the minimum amount needed is not much.

       “At the end of the day, I will have my own savings, which are independent of what we have as a family,” she said.

       Women can contribute to the scheme on their own or through their spouses.

       Contributors can contribute a minimum of RM5 a month or RM60 a year into their EPF account.

       The government will also credit RM480 annually into their accounts.

       In addition to that, account holders will be entitled to yearly EPF dividend.

       A housewife, who only wanted to be known as Lim, said all husbands should start contributing for their wives who are unemployed as soon as they get married.

       With this, she said, the wife will also have comfortable savings over a long period of time.

       “The contribution is not much. I think husbands can do it and I want to ask my hubby to do it as well,” the 30-year-old said.

       T. Padithalammah said she started contributing a few years ago.

       “I am putting in as much as I can. It will be helpful for my future,” said the 48-year-old.

       Padithalammah, who used to work in a factory, is now staying at home to care for her daughter.

       “I am voluntarily contributing to EPF as a safety net,” she added.

       As of September 2020, more than 330,000 wives have been registered under the eKasih programme which qualifies them for the i-Suri scheme as well.

       In November last year, EPF announced a new scheme – i-Sayang – which was rolled out in the first quarter of this year.

       The scheme allows for voluntary transfer of 2% EPF contributions from the husband’s account to the wife.