appreciate the effort in collating the news.

there are a few common denominators that I noticed... its not just EPF.
a) First one is EPF, which i suspect is due to how you search via google etc.
b) Second is age, specifically "old" age above 50 years old
c) Third is all involved banks, implied from the large amount and so called Macau scam.

and I am sure there a lot of scams not involving money from EPF too...
so Gov should use banks to thwart the scammers.

Instead of focusing on EPF, focus on banks and limit how much everyone above 50 years old can withdraw from banks... say if amt is below 1K rm per day, go ahead.
But for those above 50 years old and trying to withdraw large amount, they are required to go to the branch of a bank to effect payment. MUST declare they are sane and know what they are doing and fill up a lot of KYC...

those appeared too greedy or looked too love struck, get police involved to scare them and wake them up.
now that should slow down the scammers.... lol

if you are above 50 years old and not happy with this, too bad... who asked you to be old and need baby sitting by the gov?
(just think about it... this is ultimately what the gov is telling all epf members, young or old or new or future... that by 50 years old, you all cannot be trusted with your own money)

This post has been edited by Wedchar2912: Aug 3 2025, 12:34 PM

I cannot agree more with your last statement.... haha. if possible, extend to my immediate decendants... after that, really no eye to see and cannot bother also.


Still, based on the BBB study, all the more reason for gov to focus on banks and fortify the moat at that level... scams happens all the time to everyone... young and old... and if it is about money (EPF is about money), then focusing on the banking level solves many layers of issues one short.

really? so now you are ok to put all of your wealth into EPF?
since you said so confidently that "you will get back all your money"

This post has been edited by Wedchar2912: Aug 3 2025, 01:42 PM

the bolded part... can explain or provide source that states this is the primary objective of EPF?

But its not just retirees and their funds from EPF... many across the board, age and professions also kena....

hence why gov should fortify at banking level... not EPF.

It is just selective observation (purposely gov/epf) in order to activate our own confirmation biasness... plus lotsa sensationalization... cos why not....
telling news of how a 25 years old adult kena scammed 30K rm from MLM is not as "SHOCKING" as a "old" 52 years old woman who lost say 1.3 million due to love struck scam...

right?

and guess what... a news about a 53 years old female doctor losing 8.7 million ringgit due to scam... pretty sure this one does not involve EPF...

that's why the fortification should be done at banking level.




This post has been edited by Wedchar2912: Aug 4 2025, 12:15 PM

that is the fallacy and joke, if you see it...

BNM states > 95% of transactions are genuine... what does this mean??? lesser than 5% are not??? and they are ok with it.

while there are no data from EPF about scams involving EPF and to members above 50 years old... I am still pretty sure way less than 5% of all EPF members above 50 years old kena scam involving their funds in EPF.
and yet.... gov using scam excuse to effect their agenda???

just think about it...

Like it not, it is still at the banking level to tackle these scams... not EPF.

Right now, in order for us to take out our funds from EPF, it has to go through one of the banks in Malaysia. That already created an additional layer of protection.

however, human greed/emotion is more intense vs our ability to think logically, and more often than not, more damaging.
Like that 53 years old doctor... over 90 days sending 20 to 30K rm a few times a day. To her, the amount maybe is nothing... who knows... especially if she is a surgeon...

lol... there is a diff... you are part of the herd, which is what I am trying to open up your mind and others who have similar opinions/view point.
That's all... your life and mine will go on as per normal...

I just hope my comments are of use to fellow readers. I hope at least you are aware of the joke and fallacies propagated... for whatever reasons by the powers in charge.
The discontent is not you vs me, and it never was.
(btw, the joke I was refering is the bnm's claim that 95% genuine transaction is acceptable... implying also 5% not genuine transactions are ok. Is that not a joke? It is not about your opinion, so chill)

it is how the media and news being curated to skew the perception for their goals.

This post has been edited by Wedchar2912: Aug 4 2025, 01:22 PM

was this ever proposed by EPF or gov?

Ah... the focus and comparison between EPF and CPF is on the stats. 48K vs 500K.

while there are many factors, the primary cause is our remuneration here vs SG. Starting salary here is like what? 2 to 3K rm? over there already 4 to 5K sgd...
their employer's contribution is a quite high vs ours, and same with employee's. (more than 50% higher than ours combined if not mistaken)

and we have this funny biz of active vs non-active members just to muddle the stats.

if all one has to rely on (ie like 90% of one's wealth is in epf), then 4% is a safe withdrawal rate.

but if one has other assets/passive income, 5 to 6% is worth considering.

the last stats available stated that there are 248 persons with more than 10 million in EPF.... ONLY 248...

this is rarer than the number of MPs + Senators in both dewans...

so yeah, with 10 million in EPF, should not need to worry the next gen about money (there will always be other things to worry about).... unless maybe if all one has is all in EPF... lol

Yeah. Agree.

The first million is doable for the average Joe. Lagi doable for a graduate on a normal career path. The question is when the 1 million is achieved at what age. 40? 45? 55?

2 to 3 will come sooner or later if they stay the course and not withdraw from epf.

Ah but what many do not realize consciously is that by the time arrived at 3 million, there is not much time and stamina left.

The limiting factor remains to be time and stamina.

i fear even 1 million ringgit today may not be adequate, depending on which state and the availability of financial aid...
Top schools/uni in US or UK or Australia basically costs like 60K usd equi for tuition fees per year.
need to include living costs say 25K usd per year...
so that makes it 350K rm per year....

x 4 = 1.5 million ringgit thereabout. for the year 2025...

so yeah, you are absolutely correct. Assuming you did prepare the said money like 2 million for a kid... it is worth considering the discussion of whether to hand over the pot for their retirement/management vs spending it on a degree (with experience).

on side note: malaysia's glc like bnm or tenaga/maybank do sponsor scholarships together with mara and jpa. Can always apply there and see how...
each kid they send overseas under the full scholarship program basically cost the country like 1.5 million ringgit today.

they eat what they manage to catch/hunt... like everyone else... stand on 2 own feet with character being built and harden...
then when they become mentally mature, only tell them the pot of hidden treasure.

i wished I had such a hidden pot of treasure accumulating wealth while I was studying/working from 18 till now... imagine the headache now. lol

It used to be a lot easier (in the early and mid 2000s) to get a decent paying job if one graduated from a good school within the country... I can attest to it.

but nowadays with western countries like US/UK/Oz/EU all struggling, it is indeed a "gamble" if the aim is to get one's investment back...

like used to be, if one graduated from a top US uni, can get a STEM/finance job with remuneration of 120K usd pa + sign on + year end bonus. by second year, the person could be making like 200K usd.
Seems like good pay, as long as the person manages his/her expenditures cos the locale are of high cost of living. so if frugal, possible to save like 50 to 80K usd pa.... must really be frugal.

Nowadays, unfortunately, for USA case, thanks to Trump... everything is uncertain...

edit: vs 2 million ringgit... after 4 years, even interest accumulated at 5.5% already get extra 0.5 million ringgit.

This post has been edited by Wedchar2912: Aug 7 2025, 03:39 PM

that's how our gov get public feedback... disclose as little as possible... and see whats the reactions from all...

if no sound no picture, ah ha.... guess what will happen?

first time I withdrew from EPF was back in 2018.... i don't really remember whether we can do online withdrawal back then; my first time online withdrawal was early 2020.
maybe 10 years ago the online withdrawal feature was not implemented yet?

"As of 30 June 2025, total investment assets stood at RM1.31 trillion, representing an 8% year-on-year growth. International investments accounted for 39%, with the increase partly reflecting improved valuations in global equity markets. During Q2 2025, international investments generated RM12.92 billion or 63% of the total investment income. "
from: https://www.kwsp.gov.my/en/w/epf-records-to...ion-for-1h-2025


international made up 39% of assets, but generate 63% of total income... these group of fund managers truly outperformed.