well...

already gotten others sources of $$$ for raya..

its after raya the problems... all eat white rice with fried egg kicap (personally know few actually did this after major festivals.... because next salary payment very far away)

Morning Peeps
Question of the day:

When i leave this world and my EPF money goes to my wife, can this money be transferred to her EPF account?

Thanks in advance.

Folks

For those that above 55 doing regular/one time withdrawal, once it is setup, you can do it online deposit to your bank?

And read earlier on is not to do fixed withdrawal plan as epf will exclude these sums from dividend calculation?

Yup. Money cant bring go after life. Account got RM 1 or 1 million also can not spend already.

what i find amusing is... before loan gets approved or disbursed already talk of defaults and epf asking mof for help...  1st installment not even due... and epf holding all the money why they need mof help?... lol

the idea and concept of this loan is good imho... just the execution/t&c needs to be clearer... if i legit need cash... happy to sign auto withdrawal at 50/55 form to settle outstanding with the bank...

like i said before... this loan is very mafan for the banks... housing loan banks can seize n sell appreciating asset... personal loan they charge high interests to offset default risk... this loan not much meat for them... they can put a lien on account 2 but will run out of time before they can claim it...

MBSB is charging 3% upfront for the takaful insurance. Applied RM50K, only get RM48500 .... Really potong stilm...

so on the first year alone MBSB/FIs would have made 3% + 1% (rate spread) = 4% from the 700 odd million notional approved.
nice weh...

errrr...... its ok.... my exposure to MBSB via EPF is adequate...

Retail industry boosted by ‘once-in-a-lifetime’ RM150bil EPF withdrawals, says Sunway Malls
https://www.freemalaysiatoday.com/amp/categ...s-sunway-malls/
another positive / selling points for some people / parties to push for EPF withdrawals 

The CEO is high on weed 🤦‍♀️ Does he thinks that all special withdrawals goes to spending 🤦‍♀️

Special withdrawals goes mostly to the banks 1st rather than actual spending because most retail spending is in credit cards 🤦‍♀️

Anyway when these EPF special withdrawals is basically when the govt is in trouble and unable to stimulate the economy thanks to useless BNM who is unable to cut rates due to low base rates already 🤦‍♀️
Not the boss get richer but the banks as do you think Sunway is actually making money while having a sizeable book balance to the banks 🤦‍♀️

The only gains are the shareholders in form dividends at Sunway REITs and one of the major shareholder is EPF 🤦‍♀️

Go read those pleas from those who are desperate for the loans instead insinuating and generalising ppl who took special withdrawals to buy those goods 🤦‍♀️🤦‍♀️🤦‍♀️

many EPF contributors have pending bank loans that need to be settled, while those who had obtained new jobs or have ventured into small businesses after losing their jobs during the pandemic needed cash injection urgently

EPF would know because they have the data itself during the withdrawal application coupled with the less amount being contribute during the period 🤦‍♀️

Just hope banks don't offline...
Then delay to send / deposit $$$ into EPF....
Always last week of the month (when salaries comes got issues)

Have you ever thought how many bankrupts instead 🤦‍♀️

Allowing them as its own blood sweats and tears to repay off debt is fine because otherwise instead the banks will collapse due to defaults 🤦‍♀️ which leads to economic malaise as you can see the minor scare recently in America with just regional bank runs

For EPF to get consistent return is easy because it is 50% is in fixed income while EPF return is not consistent as you think as it is going downhill due to RM depreciation and investing in tongkat companies 🤦‍♀️ due to political influence

I bumped into a banker friend today, asked him when his bank going to offer EPF personal loan. He told me they are still working on it. MBSB had an unfair head start according to him.

I think u should be EPF investment advisors

Then we can get much better rate from currently given 😁

How can it not a stupid suggestion? 🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️ It is a damn freaking crazily ugly STUPID suggestion.

"the increase is necessary to ensure that contributors will have adequate savings in their EPF accounts when they retire" <---  Anyone with a working brain will know this suggestion damn sucky and stupid. 🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️

"urged the government to increase the employers’ EPF contribution to 20% from the current 13% for those earning RM4,000 and below."  <-- so those 3999 get extra 280, while those getting 4001 get nothing? Fair to workers huh? 🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️

Want to have more saving? Work harder! and also, stop taking out money from EPF account to buy useless things. That is how saving works. Not keep giving them tongkat to get unfair free money. 🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️

wife role will get replace after AI reach maturity phase

may be 100 year later, all human baby is lab born.

kwsp need wait cabinet meeting tmr for discussion....wait news development tmr....after meeting may be govt will announce 3 month kaji dulu....
EPF account got 6 digit or 7 digit doesn't matter  , important is ur passive income> current income then can STOP work already lah

Coz  money cant bring go, enjoy life dulu, that why new gen all prefer YOLO dulu

If AI is that good...

Everyone is rich lorh...

Easy can get high return...

Heck even EPF people would use it to generate more returns for the funds 😁

And also whether the passive ncome can sustain a decent life in the long run, taking into account inflation and life's curve balls.

A RM5k monthly passive income might be sufficient for 2 pax in 2023, will it be sufficient in 2040?

i respect your dedication towards planning for your retirement!!!

special EPF withdrawals