Dr M, Robert Kuok, Li Kashing all also nearing 90 alredi. the dic is stronger than yours I believe.

Well at that age, money is not as meaningful as it is when you are younger. You can't eat as much , you can't travel, you won't go out for movies , most likely bed ridden and dependent on others.

let me put it this way - u see a young man with BMW and an old man 80 with BMW - got difference.
The young's pocket kosong, the old's pocket overflowing.

it's peer accomplishment. at 75 - your peers who may look up to you are mostly dead , and the young ones don't even care who u are.

the things We can do when we are young and old - got hugh difference. contemplate this - and maybe we should start spending now to please ourselves when we are younger

True but most people spend first worry later.

Off topic here ..

I think what they have in EPF are not really reflective of their true net worth. Why? To migrate, they would need sufficient money, otherwise, the receiving countries would not be that interested in having them. More of a burden to their countries. Yes, depends on the migration category they applied. But still they would need certain minimum funds.

Enough of this topic in EPF thread lah.

Dead don't need dividends   

I don't think there are many people working in Sg can save SGD1000 every month. Don't forget recently they have just gained the fame as the most expensive city in the world.

If you're talking about food maybe yes.. Working there as a middle class isn't easy at all same as here. Look at the accommodation they're paying for only HDB flat (forget about private housing in Sg!).. the car comes with the hefty cost of COE.. no doubt in term of GDP as promoted by PAP is one of the richest countries in the world but if you have zoomed into the actual individual income, it is not the figure translated by GDP. Due to the sky high living cost in Sg, not many people could save $1k net every month. All of them are fighting for survival. This is no.2 of HK!

How is it possible for them to buy HDB when they already own two houses in JB.

I believed they can buy a HDB if they do not have another property inside Sgp yet. It does not matter if they have properties in other parts of the world.

Finally managed to bank in EPF self contribution via Maybank online but I have to make multiple $5000 transaction and $$ is in EPF account after 3 days.

You mean if I transfer into EPF on 1st of September I will entitled for full month dividend?

Isn't there already somewhat of a similar mechanism in place now? I recall that interest rates are lower for age 70 and above. Not sure if this also applies for those who have RM1m or more in their EPF.

really got this condition?
what is their rates? how much % lower for them?

can't seem to get the stated rate for them from kwsp site.

It was a question, not a statement. I believe MGM has already proven me wrong:

was there really had this issue before or EPF actually really practiced before, where EPF did gives interest rates lower for age 70 and above.?
or it was just rumours or speculation previously?

Interesting.

Like to do a quick check to see the effect of this 2 tier vs 1 tier.

Looked for % EPF amount by shareholders on the web. Cannot find any. If you know any please share here. I.e.

RM
50k    x%
100k  y%
200k  z%

Then I can estimate what is the impact to the rest if they increase the 50K group dividend by 1% at the expense of others.

maybe the impact to others is little (say, 0.1%) while the 50K group gains a lot from the 1% increase. Then that may be worthwhile. Helping others without really suffering a big loss on others.

Cheerio.

taking dividend from Top half to donate to bottom may backfire

1)No more incentive, once you reach the cut off limit eg RM600k, people would try to avoid KWSP, try to take it out

2)Alot more people would come in to gain from the higher dividend upto that cut off limit, after that they would go  1)

3) End up the top will shrink, the bottom end will grow very fast since there is incentive, how long can it last?

For now,the top ends are  becos people do not withdraw even though they can. Try change that see if they stay...