EPF CEO Ahmad Zulqarnain Onn expressed concern over the low coverage of EPF among Malaysian workers. The majority of those not protected are in the informal sector, including freelancers and gig workers. The EPF CEO expects the informal sector workforce to increase to 33% by 2040.
Only 60 per cent of the 17 million workforce in Malaysia are covered by EPF , said EPF CEO Ahmad Zulqarnain Onn. Zulqarnain said that this figure was worrying and low when compared to the global average of 68 per cent. The majority of the workforce that are not protected are those in the informal sector, including freelancers and gig workers . The 4.1 million workers in the informal sector consist of self-employed workers, business owners, and unpaid family workers.
The EPF CEO expects the workforce in the informal sector to increase to 33 per cent by 2040, while the formal sector is expected to decrease to 37 per cent
Malaysia EPF Workforce Informal Sector Freelancers Gig Workers