True. How the fark anyone cannot reach RM240k  by 55 if they work and contribute epf (employer and employee) portion is beyond me. When i started work, my salary also not high. I can't remember when hit 240k...tak rasa also.

But $1K/month = $12K/year x 40 years =$480K.

The $240K tak cukup? Or, some other considerations. Unker back tested on phone calculator, portable calculator, Exel and Piwer BI liao.

Actually if one is doing RM 1,000 withdrawal every month, and the dividend stays at 5%, the money can last almost forever. Based on simple calculations, after 480 months (40 years, 100 years old when epf no longer give dividend) , your epf balance will be RM 233,672 at that time.

And if it is RM 1,000 per month, 2.5% minimum dividend, the epf will only fully depleted after 333 months = 27.75 years, so 87 years old if retired at 60.

So, Bro ...confirm cukup?
If so, Unker relaks a bit.

I used excel, yeah, reverse of mortgage.
first month balance  = (240,000 - 1000)*5%/12 + (240,000-1000)= 239,995.80
second month balance = (239,995.80 -1000)*5%/12 + (239,995.80 -1000) = 239,991.60

Rinse and repeat.

EPF is daily interest. I use monthly, but should not be very far off.

Not correct meh?

The recent Silicon Valley Bank (SVB) collapse serves as a warning to those who argue that Employees Provident Fund (EPF) contributors should be allowed to withdraw their savings.

While it is difficult to imagine how EPF, our behemoth of a pension fund, with an asset size of RM998 billion, or almost a trillion ringgit, will ever run into trouble, let us not forget that the SVB of the US also had over US$200 billion dollars, or close to a trillion ringgit, in assets right before it spectacularly collapsed in a matter of a couple of days last week.

If a another round of EPF withdrawals is approved and the number of EPF contributors withdrawing savings from their EPF accounts exceeds expectation, and if EPF is unable to liquidate assets fast enough, the market’s confidence in the EPF, and probably the Malaysian economy, will be shaken.

This loss of confidence could lead to a cascading series of negativity for EPF and the Malaysian economy.

https://www.freemalaysiatoday.com/category/...essons-for-epf/

I agree with you.... especially when it comes out of my pocket...

unfortunately this is the system we live in.... 

(same like we walk in to a retail bank branch to do fx conversion and kena slapped by elephant wide bit-ask spread and then kena slapped by fees too when transferring to the same bank's oversea branch).

At least EPF didn't load us with front-end fee when we put 60K rm in. 

It is not even an article but a letter to editor 🤦‍♀️

long story short, once ur insurance limit finish, the private centre will send u to gov hospitals.

Wow...what happened ?

they  see docs making big money straight away think must be from selling medicine
so  mati mati want to prevent docs from dispensing..

Anwar: I Can Be Popular By Allowing EPF Withdrawal, But Can A Responsible Person Do That?

Allowing any more Employees Provident Fund (EPF) withdrawals would negatively impact the investments and, in turn, affect the dividends paid to the contributors.

The government will find other ways to ease the burden on the people while ensuring that the investment funds are not affected.

https://says.com/my/news/anwar-i-can-be-pop...-person-do-that

According to the prime minister, the government's plan of giving RM500 to EPF contributors with savings of RM10,000 or less is to enable the money to be invested in retirement savings.

As per previous information, only ppl "who really need it" can apply for loan. Apply as loan collateral doesn't mean realizing the transfer or sale. It just mean the units are locked and no longer can be touched until loan is paid. However, can bank take the units of the user defaults the loan? Unknown. So what can ended up happening is ppl claim emergency then take out loan go buy maybank stocks and voila.. double dividend

Why need to pay back IF dividend in kwsp "higher" then bank interest? Even if equal then they can just take from dividend. Imagine you borrow 100k and bank charge 3% interest on it with 100k kwsp units and kwsp gives 5.5% dividend. You can easily take 3k from the 5.5k kwsp dividend pay bank. The longer you loan the more money you make. At the same time that 100k you loan can buy Maybank stock and if that gives you 6.8% (current rate), you earning 6.8k on top.
Hmm.. the situation is very fragile. As yellen said 4 days ago in senate they will not bail out "every bank" in US. There is around 4k banks right now. And they only bail out those are posing systemic risk if failed. In other words, maybe 100 top banks? Tomorrow they will announce interest rate. If 0.5% and above then more banks will fail but at least usd value and inflation will come down and hence can save usd as world currency. If 0.25% and below, then banks will survive but the world currency status will be challenged due to inflation. Brics nation will then pose a threat to that world currency status and we all might get wallop up. The question is can kwsp pull out fast enough from US market is any?

However, can bank take the units of the user defaults the loan? Unknown. 

Even if equal then they can just take from dividend

Tiered interest 😆

Also, the target group is the low income group.... say they borrow 10K rm... whatever the mechanism may be, in a year, they need to pay back 10.5K rm (lets say 5% interest rate).

that is extra 500rm spending. They are already in poor cashflow situation already. Where are they going to get the extra 500rm and now pay back the principal as well?
so come a year's time, all of them will again demand PMX or PMXI to allow them to withdraw from EPF...

lol.... joke of the century...