No. I now disagree.... lets petition to BN to force everyone with balances above 300K rm to withdraw everything above 300K and then instruct EPF to give 20% pa dividend to those who has balances left.

everyone happy rite? the low balance people happy cos 20% woh. the high balance people happy because 20% on 300K is like 6% on 1 mio. the super rich can leave this land. You are not welcomed here.




This post has been edited by Wedchar2912: Mar 19 2022, 02:24 PM

Doesn't work. Epf total AUM will be shrinking after that.
What was proposed by media about following SG method, it will fail here because of the low wage pressure to contain the average Malaysian's salary.

Plus, the tiering is basically a scheme to legalize stealing of money form Paul to Peter.... and it is also haram according to Shariah.

besides the peter to paul thing to work properly.... (which is wrong ethically)

Most funds operate in their own space, ie they compete amongst themselves. Hence, a sovereign like fund such as EPF or PNB will face other sovereign funds as their main competitors to access different types of investment opportunities.

If EPF size is too small, say only 200 bio ringgit, that is only around 50 bio usd. Basically, the big juicy investments may not come our way. Now 200 bio ringgit is big in Malaysia, but it is really nothing globally when you have billionaires in America and EU/China already worth more than that; that is worth, not the resources they command.

agree with you that 2.5% is super easy to achieve... I suspect back in the 1950s, that was what everyone thought also. I mean, at the time Malaya needed capital to develop the country and no way that capital is cheap.

fast forward, modern economic theory screw it up for everyone... (I meant it in a jest).

But on a serious note, why should we the members of EPF who contributed our hard earn income as savings into EPF allow the EPF professionals to get away with low returns for all of us. And if the politicians and silly media and the rest are really into helping the poor, should not we encourage the EPF fund managers to work harder to earn more returns for us all?

yeah, EPF is big in malaysia.... I think Malaysia's equity market is in the order of 2 trillion ringgit size while GOM bonds are like 1 trillion type. EPF as it is is almost 1 trillion. Had to invest overseas.
From a big fish in a small pond called Malaysia, we are not a small fish iinternationally.

political suicide... people alraedy not enough to spend... ask them to save somemore...

BN don't really care about the B40...

then the opposition or the politicians and media should tell the poor to directly go ask the gov for handouts.... tied div for what? 20% on 1 small amount of 5000 is still a small amount of 1K rm, and they cannot touch.

ask for direct money and can eat full full....

not my place to say, but we should not be encouraging indiscriminate breeding. just saying.

for some of us, ie those of us who are middle age to elderly... we can stay here. Just make sure significant portion of our wealth is already overseas invested. (i think 50% to 70% will do. Don't worry about taxes. we are nobody and it is not like we will transfer back 1 mio ringgit worth every year to be noticed)

The country going down the drain is almost not our problem anymore, but we can still try to put up positive influences and/or vote for the right party.

(but i also gave up on oppo parties... so how leh?)

A very good question, but one I have no experience at all.

What I understand was explained briefly by Rockwill when I engaged them to write and safe keep my will (ages ago). The agent explained that for most people, especially those only holding "simple" things like bonds/equities/properties in the usual places like SG or AUD or UK, the Will we have here will work fine.
There is a certain set of procedure (paperwork and court orders etc) that will need to be done by the executor, or can just appoint a lawyer to do it. The agent said no need to worry back then cos I was still young, and just worry about it when I am older.

I guess the next few years, I should go and find out.

well... this was described by my singaporean colleagues, but one that I didn't bother to really verify.

SG CPF is a bit messed up. Even if you are at 65 years old and already kena terminal cancer with 10 days left to live, you are not allowed to withdraw all your CPF. Essentially SG gov point is you should not be a burden to the state. make sure enough to bury youself.

may I add one more benefit? for item 1, add also medical insurance can?

But like you said, what if you just want to spend up all your monies... This is the other side of the big brother coin, where gov knows best. So happen this is to ensure the person is not a burden to the state.
(Malaysia's gov knows best is best for politicians, not for the state.)

I believe what EPF has today is way better. whatever amount left in EPF after 55, the member can choose to withdraw what he/she needs. Self discipline is a must.

The world has allowed a person to screw up and decide so many things in his/her life until 55, and should continue to allow.
(barring issues like senility etc, where the person could no longer decide for himself/herself.)

glad and envious at your deal.... seriously rare and damn nice...

but hopefully you will not do any actual work anymore for your "new" contract work, but pass on your experience, knowledge and work ethnics to the younger ones in your firm.

We don't have enough people with right skill set, and many of the older folks are retiring.

Actually, it is quite doable. And is also a good way to test if one is ready to retire.

I've been doing almost the same thing. My net salary after everything deducted is like couple of hundred ringgit, and I've been living off shares dividend and depleting whatever FD I have.. Luckily the FD has been depleted...

Highly recommend those who are close to retirement, or has access to EPF liquidity to try it as trial run for retirement.

You can enquire about a product called Dual Currency Investment at your fav bank, and get the banker to explain how to use it to convert money at better than even interbank. Of course no free lunch, so be aware that there are conversion/lack of conversion risks.

previously I had used this to convert couple of hundred K ringgit to SGD. The savings can be rather worth while, as we all know how much retail banking FX spread can be.

This post has been edited by Wedchar2912: Mar 21 2022, 04:58 PM

unfortunately, it looks like UMNO and Najib are here to stay.... Just wondering if UMNO internal groupings have issues with each other, with enough headaches between them to leave EPF alone.

Like it or not, this is the legal (not necessarily moral) way of taking money.

Problem with our Malaysia culture is that despite already taking insane amount of money and ruining the firm, they still engage in dubious activities. To me, it is greed squared.

But I have the impression that PNB is NEP focused. So by all accounts, it should not be investing overseas.

It should be investing in Malaysia, to bring up the quality of economic activities of the Bumi population (if my understanding of what NEP was created about is accurate).

For it to invest overseas is pure hypocrisy.

You are absolutely right...

Tax payers should not be saving these 2 companies... no gov bailout. these are private enterprises.

If need fresh capital to do proper restructuring to salvage Sapura and Serba, then take from funds like PNB or Tabung Haji. Do a proper takeover, restructuring and house cleaning.
S do stands for Hope.... oh, i got confused with superman. fiction....

This post has been edited by Wedchar2912: Mar 31 2022, 02:45 PM