Thanks mate.

Yes.

This 42% statement does not seem to jive with this 2019 chart?

42% of 9 million account holders is 3.8 million

The chart shows about 2.4 million 10k and below.

So after withdrawals, approx 1.4 million dropped to below 10k? WOW!

This post has been edited by prophetjul: Jun 25 2021, 08:59 AM

Interesting:



Seems EPF has done quite well with lower principal after the numerous withdrawals last year.

Yes. The decision to invest overseas was a good one. i think forex helped in the earnings too. With MYR as weak as it is.

Well, a poor 3rd world nation cannot help theiir citizens directly.

These retirees will have problems in their retirement years. No thanks to the government.

i don't think they knew what to do with the economy amidst the pandemic.
So it was que sera sera and concentrate on the vaccine supply where there was easy money to be made.

Welcome to the future! That includes retirement!

Depends what they invested in as well.

Hi Y'all

Many years ago, i made a rough assessment on UTs which beat EPF over 10 to 15 years tenure.

There is only a HANDFUL. Maybe less than 3%.

The problem is this: How do you pick these UTs? That is the question.

Conclusion: I never invested in UTs in my 60 year old life.

No sorry. That was a while back.

They cannot do that.
A nominee is only effective if you die, not when the nominee dies.

Chain Email On Nomination
Subject: EPF Rules: A must read

If ONE (1) of your Nominees in the EPF Nominees list dies, automatically the whole arrangement (EPF Nominees list) is VOID. Meaning if, you only put in One (1) name & unfortunately he/she dies before you? Automatically EPF will channel your EPF money to trustee of AMANAH RAYA upon your death.



Even though if you have few names in the EPF Nominees list, - the whole arrangement is VOID & none of the individual names left in the EPF Nominees list will get their portion & automatically EPF will channel your EPF money to trustee of AMANAH RAYA upon your death.



Piece of advice - if any of the your Nominees in the EPF Nominees list dies, please do immediately approach the nearest EPF counter & present the Death Certificate of the individual & register your NEW / LATEST Nominee in the EPF Nominees list + NEW /LATEST percentage



If, you & the other party (maybe spouse) involved in the same misfortune (accident/ illness) that caused death to both yourself / spouse please, please, please alert your siblings / relatives / parents to immediately approach the nearest EPF counter & share the information within 3 days to AVOID all EPF money to be surrendered to trustee of AMANAH RAYA.



Upon surrender to trustee of AMANAH RAYA, your children will have to battle the money thru 3 channels;

Majlis Agama
Pejabat Tanah
Mahkamah


EPF’s Response


The EPF emphasises that the information in the chain email is NOT TRUE. If a member has nominated more than one beneficiary and one of them dies, only the portion that was bequeathed to the deceased beneficiary will be invalid. If the member later dies without updating his/her nomination, the surviving beneficiaries will receive their portion accordingly.



Only the portion that was bequeathed to the deceased beneficiary will subject to procedures under the “EPF savings without nomination” in which case priority for the right to claim the deceased member’s savings shall go to next of kin or appointed administrator of the deceased member’s estate.



Hence, it is not true that when a member has named more than one beneficiary, the entire nomination will be deemed void when one of the beneficiaries dies before the member. However, if a member has named only one beneficiary and the beneficiary dies before the member, the nomination will then be deemed void unless a new beneficiary is nominated.



Please note that members do not have to produce the death certificate of a deceased beneficiary to change their nomination. Members can change or update their nomination anytime by completing a new KWSP 4 Form. This will automatically revoke any earlier nomination made.



Another allegation in the chain email which mentioned that members need to go to the EPF counter within three (3) days to avoid the EPF savings being “surrendered to Amanah Raya” if no nomination is made or if a beneficiary and the member die at the same time is also not true.



If a member dies without nominating a beneficiary and depending on the amount the member has in his/her EPF account, the following conditions will apply:



If the member has less than RM25,000 in his/her EPF Account, the initial sum of RM2,500 will be paid to his/her next of kin. The balance will be paid two months after the member’s death.
If the member has more than RM25,000 in his/her EPF Account, the initial sum of RM2,500 will be paid to his/her next of kin. The second payment (not more than RM17,500) will be paid to the next of kin two months after date of death. The balance of the savings will be paid upon submitting the Letter of Administration/Grant of Probate/Distribution Order/Faraid Certificate from estate administrators such as Amanah Raya Berhad or the Court or the Land Office.


The EPF wishes to remind that obtaining these documents can be time-consuming and fees may be imposed by the issuing authorities. By nominating beneficiary(s), members will be able to ensure that all the documents will not be necessary and that the withdrawal process by his/her beneficiary(s) will be hassle-free and free of any charges.



For Muslim members, the Faraid Law will apply, in which case the beneficiary will act as an administrator or “wasi” who will be responsible for distributing the savings in accordance to the Faraid Law.



This is why nomination is very important. Members are also advised to check their nomination and update if and when necessary, particularly if the member has gone through life-changing events such as marriage, divorce or birth of a child.

https://forum.lowyat.net/index.php?showtopi...#entry102416898

Someone scammed EPF?

EPF’s 1H investment income rises 25% to RM34.05b

KUALA LUMPUR (Sept 24): The Employees Provident Fund (EPF) recorded RM34.05 billion in total investment income for the first half of the year ended June 30, 2021 (1H21), an increase of RM6.79 billion or 25% compared with RM27.26 billion for the corresponding period in 2020.

Total gross investment income for the second quarter of 2021 (2Q21) was RM14.77 billion, RM350 million or 2.31% lower than the RM15.12 billion recorded for the same quarter last year, said the EPF in a statement today.

The EPF said that equities continued to be the main contributor of income for 2Q21 at RM7.89 billion, accounting for 53% of total gross investment income.

As part of its internal policy to ensure a healthy portfolio, the retirement fund has adopted cost write-downs on listed equities.

According to the EPF, in 2Q21, RM210 million was written down for listed equities, compared with RM1.66 billion for the same quarter in 2020, following the continued recovery across global markets.

After netting off these write-downs, a total of RM14.56 billion of investment income was recorded for 2Q21, 8% higher than the RM13.46 billion recorded for 2Q20.

Its chief executive officer (CEO) Datuk Seri Amir Hamzah Azizan said the EPF delivered a resilient performance in 1H21, driven by the progressive recovery of equity markets and most asset classes amid the global rebound.

“The accelerating roll-out of Covid-19 vaccines and the reopening of economies supported a stronger performance of equities in developed markets.

“However, equities in emerging markets were more muted due to the resurgence of Covid-19 in Southeast Asian countries and tighter regulations imposed by China authorities on several sectors that triggered a sharp decline in stock prices,” he said.

Meanwhile, fixed Income instruments continued to contribute a stable income of RM5.28 billion or 36% of gross investment income in 2Q21.

This was lower compared with the RM6.17 billion recorded for 2Q20 due to lower trading gains.

This was also in line with higher interest rates in 2Q21, compared to the corresponding period last year.

Real estate and infrastructure, and money market instruments, meanwhile, were recorded at RM1.4 billion and RM200 million respectively.

The EPF said that diversification into different asset classes, markets and currencies continued to provide income stability and added value to its overall return.

As at end-June 2021, the EPF’s investment assets stood at RM989.14 billion, of which 37% were invested overseas.

For 2Q21, overseas investments generated an income of RM8.71 billion or 59% of total gross investment income recorded.

To assist members affected by the pandemic, the EPF launched the i-Sinar and i-Citra facilities to provide some financial relief. To date, this involves the disbursement of a total of RM67.6 billion.

About 89% of applicants under i-Sinar and 86% under i-Citra stated that the withdrawals were for daily expenses or urgent financial needs, according to the EPF.

For the remaining half of the year, Amir Hamzah highlighted that the country’s recovery prospects are dependent on how the Covid-19 situation plays out in the near term.

The question is: WILL THE REMAINING CAPITAL SEE HIGHER RETURNS?

WE understand that in normal shareholders of equity, we should be rewarded with return on equity.
However, we also know that EPF does NOT distribute out ALL their earnings for the year.
Indeed, they will retain some profits and distribute them in later years to smoothen out the returns.

So, in spite of lower equity due to the withdrawals and higher returns, i am not holding my breath that those who held on will be rewarded accordingly.

i have not advised anyone to withdraw anything if that is what you mean.
i take it as akin to a bond, a Ringgit denominated one.

i am only anti EPF as far as it's transparency is concerned. And i have been with EPF for 40 years.
Recently EPF invested in Riverstone Holdings Ltd and if the edge is to be believed looks rather dodgy.

https://www.theedgemarkets.com/article/epf-...L_gFL8.facebook

And of course past history of MAS et al.

You must be an unker with RM4mil in EPF!
I am a year older than you.

No chest pain. No high BP. No nothing.
Only waiting to retire soon.
That is the thing. They do not answer to their stakeholders. Ketuanan at work here.


This post has been edited by prophetjul: Sep 26 2021, 01:33 PM

Thanks for this.
So from this, how does Public Mutual funds average compare with this?

Thanks

Any data on 20 year return?