How can EPF boost social protection for the creative industry?

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EPF Enhances Social Protection for the Creative Industry Through New Initiative

An initiative linking Employees Provident Fund (EPF) contributions to government-funded projects aims to significantly bolster social protection for workers in Malaysia's creative industry. This collaborative effort, formalised through a memorandum of understanding between the National Film Development Corporation Malaysia (Finas) and EPF, seeks to integrate creative sector participants into EPF programmes, thereby providing essential social security and long-term financial stability. The strategy involves raising industry-wide awareness to encourage employers and project organisers to enrol their workers in EPF.
Increased EPF Enrolment Targeted

Currently, a mere six per cent of the estimated 70,000 individuals in Malaysia's creative industry are enrolled in EPF. This new initiative, which mandates EPF contributions for workers on government-funded projects, including those under Finas and Radio Televisyen Malaysia (RTM), is designed to dramatically increase this figure. Communications Minister Fahmi Fadzil expressed hope that within two years, approximately 50 per cent of those in the industry would be covered by EPF protection, a substantial improvement from the current low participation rate.
Leveraging the i-Saraan Scheme

The i-Saraan scheme, introduced in 2010, plays a crucial role in this endeavour by allowing freelancers to make voluntary contributions to EPF and receive government incentives. Since its inception, 3,925 individuals have signed up, contributing RM28.33 million. These participants have accumulated RM231.94 million in total savings, with an additional RM1.48 million in government incentives. Women constitute 56 per cent of these sign-ups, indicating a significant uptake among female freelancers.
Addressing Industry-Specific Challenges

The creative sector, particularly the film industry, often operates on a project-to-project basis, leading to inconsistent incomes and a lack of financial security for freelancers. This initiative directly addresses this vulnerability by ensuring that those contributing to government-funded productions are integrated into a formal social security system. By making EPF contributions a condition for government project funding, the initiative aims to drive widespread adoption and provide a more stable financial safety net for creative professionals.
Collaborative Awareness Campaigns

Finas, in conjunction with labour unions and industry associations, will lead comprehensive awareness campaigns to educate producers, sponsors, and workers about the benefits and requirements of EPF contributions. These campaigns are vital for overcoming the current low enrolment rates and ensuring that industry participants understand how EPF programmes can contribute to their long-term financial well-being and retirement security. The focus is on making EPF accessible and beneficial for all individuals within the film and creative industries, regardless of their employment status.

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How can EPF boost social protection for the creative industry?

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