else how to justify pushing retirement age higher...
and justifying the idea of keeping your funds in epf post 60 years old... with enforced annuities if they can...
and justify that majority of people (poor poor B40 and M40... the real definition of majority rite?) are poor...

edit: some poor ktard apparently don't like the phrase majority to means something... so edit to explain clearly it is majority as B40 and M40 added is 80% of families/population in Malaysia

This post has been edited by Wedchar2912: Oct 3 2024, 02:46 PM

lol... luckily thanks to you, a copy of what I wrote is still there....

didn't epf publish stats based on a lot of categories? it is one of the categories, always highlighted when it comes to EPF stats, by EPF itself.

haha...
institutionalized, but can't even refer to it, let alone talk about it... lol

btw, EPF using their own definition of B40 and M40 and T20...

the verification is one once (so called in a lifetime)... after the first time, u can always click click at home to withdraw up to 30K each day/time.

my experience been 1 to 2 biz day...

say if monday withdraw in morning, money will arrive at like late afternoon tuesday.

this stat is stupid rite?

there are around 80K persons with epf balance above 1 million, and EPF recorded that there are 16.1 million members. so what does this mean?

the people with 1 million and above is the top 0.5%.... not even T01, these are T0.5
and yet many claim 1 million is not enough to retire, but according to stats, these are already top 0.5% in Malaysia. may as well ask the rest of 99.5% to give up completely....

so, which is right? the stats is wrong or we are fools to believe the stats?

all your points are valid and true... which is why we asked ourselves why the stats are given and are these stats being abused by certain parties to spin a certain narrative.

i'll end here least some sensitive tard claim i am off topic...

oh wait... mayve what EPF is trying to tell all of us is not to work for salary... since lotsa biz man outside with multiple millions not in epf... like 600K in a house type...

agree with you about stats... that is math and numbers only.

however, the phrase B40, M40 and T20 was created by gov to mean something else, which basically most Malaysians understand it as such.
so... what does that mean?

marketing gimmick at its best.... if I am being generous.

no idea, but i suspect as long as EPF doesn't know about it, the funds should still be able to accumulate dividend.

whether they backdate to date of death or not, no idea....

first time hearing this... if the spouse is nominated, he/she can withdraw out... but i don't think can move into own epf account.

take it and go sai lang in chinese market... who knows... can double it in a few days.... or zero... its only 1K...

only if it is optional... not forced on all

automatic monthly withdrawal and annuity are different.

automatic monthly withdrawal is just like standing instructions, and it is a feature for the members. No one forces him/her to set up the "SI". plus, this is inefficient as the monthly amount don't get dividend.

annuity is a good idea as it is a fixed income instrument like product... where one locks in the interest rate and payment/cashflow, and so called ride it till sun-set...

your idea of EPF mandating all to undergo consultation session is interesting... but need to factor in the costs and logistics... plus would you be willing to subject yourself to this? I find it a waste of my time and energy, but again it would mean that I am subjected to inconvenience due to majority's ineptness in managing their finances. (plus most probably eat into dividend yield as cost is there)

Its like the suggestion to go for annual medical checkup past say 50 years old. Why was this not forced on all? I would think this is even more important...

Do you have any official communication to back your statement?


this clearly state that any funds in a member's account will continue to earn dividends until 100 years old.
https://www.kwsp.gov.my/en/w/clarification-...ividend-payment

no qualifiers were mentioned about dead or alive.

there are just too many misinformation and disinformation... this thread is becoming like kopitiam talk already...

now this is the confusion....


seems to indicate only affect muslim members...


but then




any lawyers here?

Time to trim one's div stock holdings and throw more into epf.

gov will exempt one... purposely mention that it is under consideration to scare the people, and then claim he is magnanimous and prihatin.... see lar...

so no need to think too much.. like you mentioned earlier, time to redo again portfolio alignment and if need be, into fc assets.

wah.... i think not many here in /k (i can only think of one chap, and he is moving to OZ) has the aum to set up a family office... convention is need like 50 to 100mio usd to make sense...