What do you think he was trying to say?

If it was so easy to be able to "lock" the age 55 epf funds, ....they would not hv implemented the EMAS accounts.

It's not easy, but EPF is considering it now.

They had not considered it previously before implementing EMAS account?
The political climates at that time are more conducive than now.

They may say "consider" or "Study", but in reality...

I think he is saying retirees are not taking out their money in regular monthly intervals. Suka-suka take out any amount and any time they wish. They want to promote to them to take out on a regular basis. But why I dont know. Why bother what people do or how they do it.

I don't know. Did they publicly say that they were considering it before implementing EMAS account previously?

"The Employees' Provident Fund (EPF) is considering making regular or monthly withdrawals mandatory for contributors reaching the retirement age of 55."

You really think they will do that implementation of EMAS account, without first studying it?

This post has been edited by MUM: Jul 6 2023, 10:31 AM

yalah means they want to force you to take out on a montly basis. I dont think they are saying you cant take out in one lump sum. but why?
anyway, our news reporter listen and write only. They got no brains to ask questions and this is they type of reporting we get

My question was did they tell the public that they are considering it like now?

Oh, your understanding is that they want to force people to take out the money.

Ok.

For my case, I would prefer to leave my EPF money in there and withdraw only the interest. Not even all the interest, just part of it. I would prefer to withdraw only what I need and when I need it.

But frankly I am getting sick of all these uncertainties. Maybe I will just take out everything and earn a couple of percent less interest to avoid any future headaches.

You need to check back fior that info you need yourself...
It had been years they implemented that EMAS account

https://www.nst.com.my/business/2023/07/927...stment-strategy

My interpretation of what he is trying to say is well articulated here.

They want ppl to withdraw regularly instead of lumpsum.

Not sure why there is so mich fear mongering on epf. If scared take it out immediately

Yup, that's what they want. One way or another.

if this happens, it will only be for new members after the implementation

Sounds like it will be against with what they meant if they increase the full withdrawal age to 65. Even now they already allow partial withdrawal at 50.

I believe they just want the members to able to sustain their life after retirement hence locking up certain amount and become pension-like withdrawal.

They do have these scheme in place called Annual Dividend Withdrawal...


For the lock up 55 amount - it's only for a certain minimum amount. I believe if your money is more than the minimum amount you are free to do lump sum except for the minimum amount to be use for monthly retirement withdrawal.

Just a note,
Just not too long ago, there had been many pages of postings about fear of "tiered" dividends too.

BTW, not all that are scared can qualified / eligible to withdraw immediatrly if their fear materialised.

I got this from kwsp site


Attached thumbnail(s)

I was saying 2 different things.

The annual dividend scheme is currently in place to only withdraw dividend annually..


The lock up amount is for the new scheme they are studying.

maybe they t20 people to be scared and take out immediately now so in in future pay less dividend to them. No need to implement tier-dividend.

also will implement basic income drawdown. how much a month?
https://theedgemalaysia.com/node/673791

KUALA LUMPUR (July 6): Prime Minister Datuk Sri Anwar Ibrahim said any decision on the basic income drawdown plans for members' savings will be decided by the Employment Provident Fund (EPF).

This post has been edited by batman1172: Jul 6 2023, 01:48 PM