Already done.
EPF has been asked to increase their local exposure to 70%, remember?

why the personal attacks?

you do know whatever financial issues you have, it has nothing to do with me right?

This post has been edited by Wedchar2912: Jul 6 2023, 08:24 PM

So you can attack me but I cannot do like wise?

read back ur first response to me. I responded appropriately.

eitherway, no need to continue further. Good luck to you and your finances.

This post has been edited by Wedchar2912: Jul 6 2023, 08:25 PM

And I never attack you. I was just being sarcastic to others

there is a poll here. go vote

https://www.thestar.com.my/news/nation/2023...aching-55-years

The 77% NO votes must be from Lowyat.

If there's a cap, then yes.

That's vote including me 😁

I hope EPF & PMX see how unpopular this thing is....

Actually I will do monthly withdrawal thing voluntary but the thing is I need RM5k monthly and that amount to be increased by 3%-4% yearly depending on inflation rate and I guess this value will be different from person to person. If they use RM240k/20 years without factoring in inflation then my EPF can last me till maybe 200 years old. So my vote is NO and if they still do, I will vote the next PM who say can take out my money.

This post has been edited by batman1172: Jul 7 2023, 10:39 AM

All these time I had planned on taking out just the yearly dividends but now reading all these, I just might withdraw everything. I’ve no more trust in EPF even if they U-Turn on this one. Anyone else feels the same?

I agree with you, the 240k figure also make me doubt their ability.

Just some numbers, to think about the chances of implementing the mandatory 240k minimum sum lock up, ....

the number of active members who had reached the basic savings target of RM240,000 by the age of 55 had dropped from 36 per cent in 2020 to 29 per cent at the end 2022.

71 pct of EPF contributors aged 55 and below do not have enough to rise above poverty level.

As of December 31 2022, a total 6.7 million contributors or 51 per cent of those aged under 55 have savings of less than RM10,000 following the withdrawals.

"With this amount, the members only have on average RM42 a month in retirement fund over 20 years."

https://www.google.com/amp/s/www.nst.com.my...ough-rise-above

Mainstream news is publishing komitiam news

https://www.msn.com/en-my/news/national/ens...d0b867ba4&ei=14

However, the EPF should set a certain limit for the withdrawals or members might deplete their savings pretty quickly.

“Perhaps, limit it between RM500 and RM1,000,” he said, adding that they can be allowed to withdraw only monthly or quarterly each year.

Same concern. At this point, wait and see.

Easy to withdraw everything.

Where are you going to put your million withdrawal in? FD?

That’s another headache. *Sigh*

you can put in FD, other investment, Bursa, overseas market, give some to children, allocate some for children education, marriage, and off course own use later on la
if you put in FD, many banks will love it especially new funds with big amount, they give you special rate.

RM240k x 5% dividend = RM12k pa.

Theoretically, RM240k will last you a lifetime of RM1k monthly withdrawals if EPF consistently gives no less than 5% pa. Then as we age, we start increasing to 2k a month and so forth to match inflation, then eventually, it will drain the total sum away. This is good for those who has already planned their financial retirement without touching EPF. EPF is like spare money when needed. And if unfinished, leave it to nominee. But knowing people, even with financial literacy, some cannot tahan touching that money. That's why so many old people have so little money left after 5-10 years after withdrawal. Sudden influx of money, spend it and poof, gone before realizing it.

But seeing EPF the way it is, people are beginning to feel apprehensive to leave their money in there.

Want to be like Singapore, but when similar rules and regulations implemented in Malaysia, all cannot take it 🤣. Its definitely good to set a limit of withdrawal for those account with less than the threshold. Anything extra, epf will allow you to withdraw all after 55 or 60. that's quite common sense. Why so many act react weirdly.