my recollection is similar to yours.... i remember my mom took my savings from CNY and placed it as FD with Public Finance... and it was like 13% pa type. the sad part is my mom refused to place it for 10 years FD even though I told her to (as a teenager, I had no rights. haha)

one of the earliest financial mistake I made... not adult enough to take charge of my own financial situation.

bond yields may have climbed to 20%... the longer tenored ones... but I doubt FDs did.

you may be right... this part I cannot remember...
although I had the impression that it was a flat yield curve for FDs for tenors longer than 2 years....

why should EPF have tiering? It is mandatory for all salaried employees in Malaysia.
But if gov of Malaysia wish to apply tiering, then make EPF optional and all contributors freedom to withdraw. We then can see how many will continue to put money in.

ASB should not exists to begin with if it is doing charity work. Let ASB be professionally managed by a proper fund management firm. Then maybe we can see the real performance.

wah... the way you say it is like 2020 was a sure win year...20 million easy will not have B40 anymore in Malaysia...

but I think we are just encouraging that new account holder to talk nonsense in this thread... which has been a relatively good thread about EPF and EPF's dividend. There will always be those that talk nonsense about how much he or she can make... talk only.
(plus, i doubt there are many with 5 million ringgit above in EPF visit /k. the whole Malaysia only has around 70K persons with more than 1 million and of those with 10 million, only 248 persons. )

If you like equal outcome regardless of inputted effort, maybe you can propose to our beloved government to take whatever in ASB and distribute it equally amongst all members of ASB. Lets see the type outcry that will come about.

Lets take it to next step. It is well known that government servants enjoy pension scheme upon retirement rite?
go and propose that all ex-gov servants should receive same pension payment regardless of their last salary. Why should a Prime Minister get more pension than a clerk at LHDN?

This equal pension payment definitely will really help the majority of Malaysians, as the government is well-known to be the largest employer in Malaysia.

A very astute observation.

Sometimes, the poor really think that EPF is all that a prudent financially savvy employee has. It could be that they are poor because they don't know how to plan properly, hence also one of the reasons EPF should continue to exists. Mandatory savings... (until our great tepi PMs allow the poor to take out 20K rm to help Malaysia's economy and then further enrich the business owners indirectly).

(to those who doesn't realize.... while EPF may seem a sure save way of preserving one's wealth, having 100% of one's wealth in EPF is super super STUPID. The rich and financially savvy ones will never do that)

Just to add to your point....
if personal contribution is 11% and company contribution is 12%, then monthly salary only needs to be 3.65K rm and with zero bonus and zero increment.

Definitely doable.

But I guess the counter-argument is that 3.65K rm seems normal today, but this amount is quite high 35 years back in 1987. Nonetheless, what I understand is that if one is junior management, salary is already above that even in 1987.

There is 10-year FD, or at least there was previously... As I had seen one such cert before back in 2007. A old ex-colleague then was very proud that he had a 99K rm FD cert that shows 13.x% rate and that he was still receiving interests on it.

Nowadays no more 10 year FDs could be due to low rates and banks not keen to offer. Plus bonds are paying much better yield, with some form of liquidity as well.

We should encourage these people to look into ASB and see how to distribute ASB's funds and dividends more equally amongst all contributors...
(ASB has like 11 million unit holders, which I guess means 11 million persons?)

what about government pension?
(civil servants around 1.2 million persons... Malaysia government is the largest employer in malaysia)

and dare I point to Tabung Haji too? the poor in tabung haji should receive more...
(there are like 9 million depositors here....)

these 3 steps would really help many people....

This post has been edited by Wedchar2912: Dec 24 2022, 01:18 PM

tqvm for posting this. nice stats for reference.

Would be interesting if Epf or theedge can write an article about the 248 deca-millionaires....

I don't know what is the minimum age for opening a EPF account...
60K pa into EPF and assuming 5% dividend, only needs 12 years to reach 1 million ringgit.
at 25, quite obvious some tycoon's or businessman's kid... most probably

so parents in /k who is reading this, great idea to put the green pow/christmas gift/ang pow money into EPF for your kids.

This post has been edited by Wedchar2912: Aug 10 2025, 09:56 PM

Of course... but the big MAMA doesn't have 1.5 million ringgit.... she has 15 billion usd most probably...

Theedge mah... want to sell more papers to businessmen, and high salaried employees...

whats the best way than these type of juicy news... Imagine say a department head in CIMB read this article and noticed that there are 70K "EPF" millionaires... when all this while, she thought she was special cos she just reached 1 million at the tender age of 39.

would be what she is feeling

Don't quote me, but I think tabung haji did not invest much overseas... definitely not as big a % of its portfolio overseas vs EPF.

EPF's performance may be buffered/better thanks to our weakening ringgit.

Also, wasn't there a scandals of sorts with tabung haji previous years? or was that some other funds?

( further reading: https://waitbutwhy.com/2014/05/life-weeks.html )

This would sum up succinctly how much time one has, in terms of "sticky notes". (i choose 80 sticky notes, and I have already used up half of them).

These sticky notes are the only real resource that one cannot replace. Spend them wisely instead of just trying to get more and more money....

This post has been edited by Wedchar2912: Dec 26 2022, 08:13 PM

sure.... please please please ask gov to allow everyone to withdraw up to 30K rm to boost the economy. retirement be damned. why not?

no woh... unlike many others, I nowadays no longer against people withdrawing their own funds from EPF... it is still not a great idea, to put it mildly, but it is the person's own future. Who am I to say anything.

Hence please please allow... we need these funds from B40 and M40 people to spur the economy. tq PMs of Moo and Penyu.
If gov can announce the availability of 30K like this week, that would be great... KLCI maybe can go back up to 1700 or 1800 lvl and end the year nicely....

well, the good thing is that EPF fund managers and management is actually aware of this and we can already see the steps they are taking to mitigate this issue.
Many do not realized that EPF is a very very diverse fund, and is in almost all genuine, established asset classes. Take for example: almost 40% of its total assets is overseas. This actually takes care of the ringgit devaluation issue and Malaysia uncompetitiveness problem.
That's why for those who is either too lazy to do own portfolio management, or just too poor, EPF is the best retirement fund available to us Malaysian.

Now, the other economic issues mentioned: subsidies. deficit, taxes... cannot really be solved with EPF. Pointing to EPF to solve these are just a misdirection, much like the stupid tiering nonsense to help the poor (why use EPF? should use ASB and Tabung Haji also rite?).

edit: to include:
as one grows older, one will realize that it is not about picking the right/sexiest investments at the time all the time, but to stay the course and manage one's networth on a portfolio basis vis a vis one's requirements (ie expenditures).

This post has been edited by Wedchar2912: Dec 27 2022, 03:24 PM

lets hope BNM hike rates properly next year... then we will have a very happy but confusing problem. Imagine 1 year FDs hovering at 6% pa to 7% pa for 2023.

headache or not? haha

are you assuming he could purchase the house with cash only (part of the cash would be from EPF)?

The usual comparison is purchase with loan or purchase with cash/epf.
For the many recent years, it is better to take a loan to finance the purchase than to take cash from EPF, as EPF pretty much beat home loan rates.

This post has been edited by Wedchar2912: Dec 27 2022, 08:12 PM