Outline ·
[ Standard ] ·
Linear+
EPF Suspended Public Mutual as Approved Fund Mgr, Suspension starts 29th October, 2012
|
TSdaniellehu
|
 Oct 30 2012, 07:09 AM, updated 14y ago
|
|
Please be informed that the services of Public Mutual Berhad (IPD Code 03) as Approved Fund Management Institutions (IPD) under the EPF Members’ Savings Investment Withdrawal have been suspended with effect from 29 October 2012. Accordingly Public Mutual Berhad (IPD Code 03) is prohibited from opening accounts for EPF members and/or receiving credit transfers from EPF members commencing from 29 October 2012. However, the IPD is still responsible for managing existing members’ investments, if any, transferred before 29 October 2012. You may click the link below as to verify this announcemnt http://www.kwsp.gov.my/portal/en/web/kwsp/...ment-institutes |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 07:25 AM
|
|
|
QUOTE(jinaun @ Oct 30 2012, 07:21 AM) Investor utilising EPF savings to invest in unit trust shall NO LONGER be able to invest under Public Mutual unit trust from 29th October, 2012 onwards. |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 07:41 AM
|
|
|
QUOTE(mancy @ Oct 30 2012, 07:37 AM) For the time being, the public has the slightest idea. |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 07:54 AM
|
|
|
QUOTE(prophetjul @ Oct 30 2012, 07:50 AM) As usual, Msian authocracy.............ketuanan attitude. i do what i like, no reasons required........  I understand the anger and frustration in you but let's keep our cool for the time being. Do observe the actions taken by relevant parties as to solve this issue. It is best as not to accuse any parties for no reason nor prove. |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 07:58 AM
|
|
|
QUOTE(intelcorp @ Oct 30 2012, 07:52 AM) just message my fund manager and his reply was investment still the same. najib want to use money for election. aiyoooo like that also got ... haishhhh As the suspension is only implemented very recently, majority of Public Mutual UTCs still have the slightest clue that Public Mutual has been suspended. Hence, please be patient. |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 08:00 AM
|
|
|
QUOTE(intelcorp @ Oct 30 2012, 07:57 AM) what did public mutual do until got this kind of suspension. i don't believe some "ppl" need to use the EPF funds. kinda worried, coz other Fund Management Institution did not got the suspension Good question! What have Public Mutual done as a result to EPF resorting to such drastic measure? This is indeed a good question! |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 08:01 AM
|
|
|
QUOTE(lunchtime @ Oct 30 2012, 07:58 AM) Obviously, PMB agents have committed certain offences that rendered the suspension necessary. Anyone knows how long is the suspension? This is the most probable reason and the suspension period is indefinate. |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 08:03 AM
|
|
|
QUOTE(David83 @ Oct 30 2012, 08:00 AM) This is a little shocking! Is PM an approved PRS fund manager? Good question! Yes, PM is an approved PRS Fund Manager. However, PRS initiative has very little to do with EPF dept, hence I personally do not think it will affect PMB position as an approved PRS Fund Manager in near future. |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 08:06 AM
|
|
|
QUOTE(lunchtime @ Oct 30 2012, 08:03 AM) One major offence committed by agents are promoting online, on blogs, FB and unauthorised use of EPF logos. This carries a heavy penalty. This is a valid reason, but NOT good enough to suspend the entire company as the posting might be carry out by competitions and it is debatable if this case is brought to the court of laws. This is just my personal view. |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 08:20 AM
|
|
|
QUOTE(lunchtime @ Oct 30 2012, 08:07 AM) I see this as a good move by EPF to suspense UTMC to rein in those UTCs who practices go against the code of ethics and FIMM & SC regulations.
Added on October 30, 2012, 8:17 amAs I know UTMC have strict guidelines to adhere to, however enforcement have been severely lacking in the recent years, look at the number of blogs and FB pages promoting UT, UTCs themselves fail to observe the code of ethics set by FIMM. This would have likely caused some UTCs to make some remarks about EPF. Anyway the days of blog, internet and FB promoting, and cold canvassing at EPFs offices are over now. It is about time UTMC and its UTCs toe the line. Good move by EPF. Agreed  |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 09:37 AM
|
|
|
QUOTE(dexterhau @ Oct 30 2012, 09:14 AM) I got the same thing from my agent as well... They said PM agent openly condemn EPF Fund Performance. I think because of that EPF beh song la... Then gantung dia punya lesen... =.=' Why EPF act like Small Kid? It is a valid argument and still, not good enough to put PMB on suspension. |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 10:02 AM
|
|
|
QUOTE(prophetjul @ Oct 30 2012, 09:54 AM) Dats the reason i mentioned the ketuanan attitude of gomen workers haha!! couldn't agree more! people get punished because they dislike the way you walk or talk! |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 10:42 AM
|
|
|
QUOTE(KonKam @ Oct 30 2012, 10:03 AM) Good that PM is suspended. Switching charges so high. Almost like buying share charges. as much as we acknowledge the service charge is on the high side, and NOT the switching charge (at RM 25/swicth), I personally feel that this is not the time nor place to complaint about charges which is NOT in line with the title. |
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 11:42 AM
|
|
|
Good news guys! I have just learnt that EPF is going to lift the suspension on PMB by the end of the day.
This post has been edited by daniellehu: Oct 30 2012, 11:48 AM
|
|
|
|
|
|
TSdaniellehu
|
Oct 30 2012, 06:04 PM
|
|
|
Thank you everyone for your inputs! Appreciated your views on this issue. Since the suspension has been lifted, it is time for us to close this thread and move on with our life!
Again, thank you very much!
|
|
|
|
|
Quote
0.0153sec
0.59
7 queries
GZIP Disabled