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> EPF DIVIDEND, EPF

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xuzen
post Jan 14 2014, 08:01 PM

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QUOTE(wil-i-am @ Jan 14 2014, 10:35 AM)
Announcement will b end Jan 14 or early Feb 14
*
Usually late Feb or early Mar.

Xuzen
EddyLB
post Jan 15 2014, 08:21 AM

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QUOTE(gyver @ Jan 14 2014, 11:01 AM)
I don't think so. Malaysia is different, didn't you know?

The government is even trying to withold monies... read it here:

http://www.iklanlahpercuma.com/2013/12/30/...anan-asas-2014/
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Thanks for the link. But I am confused. The recent cap of RM196,800 announcement is it mean that at age 55, I must keep RM196,800 in EPF and cannot take out ? Or is it means for withdrawal of A/c 1 to invest in Unit Trust, the calculation is based on RM196,800 ? And when I reach 55 y/o I still can withdraw all amount and close EPF a/c ?
yklooi
post Jan 15 2014, 09:07 AM

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QUOTE(EddyLB @ Jan 15 2014, 08:21 AM)
........... Or is it means for withdrawal of A/c 1 to invest in Unit Trust, the calculation is based on RM196,800 ? And when I reach 55 y/o I still can withdraw all amount and close EPF a/c ?
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yes, Calculation based on RM 196.800 at age 55, if younger....lower rate, (ex, RM 27 000 for age 30) and yes. (until further notice)... tongue.gif
Purpose:
This withdrawal allows you to withdraw part of your savings in Account 1 for investments to increase your retirement fund to support your life after retirement.
You are allowed to invest not more than 20% of the total amount in excess of your Basic Savings in Account 1 through the Appointed Fund Management Institutes approved by the Ministry of Finance.
Basic Savings:
With regards to the second statement from the Purpose section, Basic Savings is defined as;

"A pre-determined savings amount in your Account 1 according to your age to enable you to achieve a minimum savings amount of RM196,800.00 when you are 55 years old. The savings cannot be withdrawn until you are 55 years old."


This post has been edited by yklooi: Jan 15 2014, 09:10 AM
EddyLB
post Jan 15 2014, 10:40 AM

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QUOTE(yklooi @ Jan 15 2014, 09:07 AM)
yes, Calculation based on RM 196.800 at age 55, if younger....lower rate, (ex, RM 27 000 for age 30) and yes.  (until further notice)... tongue.gif
Purpose:
This withdrawal allows you to withdraw part of your savings in Account 1 for investments to increase your retirement fund to support your life after retirement.
You are allowed to invest not more than 20% of the total amount in excess of your Basic Savings in Account 1 through the Appointed Fund Management Institutes approved by the Ministry of Finance.
Basic Savings:
With regards to the second statement from the Purpose section, Basic Savings is defined as;

"A pre-determined savings amount in your Account 1 according to your age to enable you to achieve a minimum savings amount of RM196,800.00 when you are 55 years old. The savings cannot be withdrawn until you are 55 years old."
*
That is what I understand. The new rule is to revise the amount eligible to withdraw to invest in Unit Trust

But in the linked article, it seems to say that the new rule require us at age 55, we must keep RM196,800 in the EPF a/c and cannot withdraw all monies rclxub.gif Thanks for the confirmation notworthy.gif

plumberly
post Jan 15 2014, 11:05 AM

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I thought I read a newspaper report that the overall performance of those who used EPF money for UT investments did not do well (they withdrew too early? Bought the wrong UT? Etc).

Now EPF is encouraging people to use EPF $ to invest in UT? Does not add up.

Yes, I know EPF has too much $ to look after. But ...
yklooi
post Jan 15 2014, 11:15 AM

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QUOTE(plumberly @ Jan 15 2014, 11:05 AM)
I thought I read a newspaper report that the overall performance of those who used EPF money for UT investments did not do well (they withdrew too early? Bought the wrong UT? Etc).

Now EPF is encouraging people to use EPF $ to invest in UT? Does not add up.

Yes, I know EPF has too much $ to look after. But ...
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hmm.gif "Now"??
i thought the scheme had started years back......(i think it started in 1996)
yklooi
post Jan 15 2014, 11:15 AM

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edited..double posting.

This post has been edited by yklooi: Jan 15 2014, 11:16 AM
plumberly
post Jan 15 2014, 11:22 AM

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QUOTE(yklooi @ Jan 15 2014, 11:15 AM)
hmm.gif  "Now"??
i thought the scheme had started years back......(i think it started in 1996)
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Sorry for the confusion.

I know withdrawal from EPF for UT investment was started many years ago (I used it and luckily for me, I withdrew all UT back to EPF a year or 2 before the 2008 crash).

I thought now EPF allows a bigger amount for UT investment. And thus the irrational logic behind it.

Cheerio.
yklooi
post Jan 15 2014, 11:26 AM

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QUOTE(plumberly @ Jan 15 2014, 11:22 AM)
Sorry for the confusion.

I know withdrawal from EPF for UT investment was started many years ago (I used it and luckily for me, I withdrew all UT back to EPF a year or 2 before the 2008 crash).  rclxms.gif Good and happy for you...(what made you made "see" to decide to withdraw before 2008?)

I thought now EPF allows a bigger amount for UT investment. And thus the irrational logic behind it.
rclxub.gif pls elaborate how you see it is "bigger amount? most people would say otherwise notworthy.gif

Cheerio.
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Clareen
post Jan 15 2014, 11:47 AM

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QUOTE(plumberly @ Jan 15 2014, 11:05 AM)
I thought I read a newspaper report that the overall performance of those who used EPF money for UT investments did not do well (they withdrew too early? Bought the wrong UT? Etc).

Now EPF is encouraging people to use EPF $ to invest in UT? Does not add up.

Yes, I know EPF has too much $ to look after. But ...
*
yup seem like i'm one of them bought wrong UT cry.gif
plumberly
post Jan 15 2014, 11:50 AM

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QUOTE(yklooi @ Jan 15 2014, 11:26 AM)

*
Good and happy for you...(what made you made "see" to decide to withdraw before 2008?)

==> I have a crystal ball! Ha. Our economy cycle was at every 8-10 years and thus looking at the crash in 1998, add 8 years, then the year. Yes, I got out a bit too early as the prices went further up. But the volatility got better of me and decided to cash in. No regret for my decision.

Note that I used "was" for the cycle. I think the cycle is shorter now. So don't use that as the fixed yardstick.


most people would say otherwise

==> May be I read it wrongly then.

Cheerio.


gyver
post Jan 15 2014, 12:13 PM

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QUOTE(EddyLB @ Jan 15 2014, 10:40 AM)
That is what I understand. The new rule is to revise the amount eligible to withdraw to invest in Unit Trust

But in the linked article, it seems to say that the new rule require us at age 55, we must keep RM196,800 in the EPF a/c and cannot withdraw all monies  rclxub.gif Thanks for the confirmation  notworthy.gif
*
Basically the move is just to discourage the withdrawal of EPF for anything, especially unit trust investment. The calculation table is just a guide for EPF officers to deny your claim to withdraw, if you don't have sufficient funds that is. Most blue collar and fresh grad white collar yuppies don't have that much to begin with.

The reason why this is being done is up to speculation. But imho, there isn't enough funds if everyone withdraws.

But not to run off topic. The EPF dividend rate should be not too high but not too low either. If it is too low, majority of people sure wanna withdraw and invest to unit trust or mutual funds.
enkil
post Jan 16 2014, 12:09 AM

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Still no announcement?
plumberly
post Jan 16 2014, 09:57 AM

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QUOTE(enkil @ Jan 16 2014, 12:09 AM)
Still no announcement?
*
I assume you are referring to the announcement for 2013 EPF dividend, right?

It was announced on 17 Feb 2013 for 2012.

Surprisingly, EPF has already closed its 2014 statement access about a week or 2 ago. I think that is for the 2013 dividend calculations etc.

My guess is early to mid Feb for the %.

Cheerio.
enkil
post Jan 16 2014, 03:44 PM

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thanks smile.gif

QUOTE(plumberly @ Jan 16 2014, 09:57 AM)
I assume you are referring to the announcement for 2013 EPF dividend, right?

It was announced on 17 Feb 2013 for 2012.

Surprisingly, EPF has already closed its 2014 statement access about a week or 2 ago. I think that is for the 2013 dividend calculations etc.

My guess is early to mid Feb for the %.

Cheerio.
*
Kaka23
post Jan 16 2014, 09:49 PM

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IMHO.. 2013 will be lower than 2012. 2012 gov give higher to buy more votes...
wil-i-am
post Jan 17 2014, 11:44 AM

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Lets wait for announcement pre/post CNY
felixwang
post Jan 17 2014, 06:12 PM

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QUOTE(wil-i-am @ Jan 14 2014, 10:35 AM)
Announcement will b end Jan 14 or early Feb 14
*
EPF has hinted dividend may be lower for 2013 in June, 2013.

http://www.thesundaily.my/news/744767
Hapeng
post Jan 18 2014, 03:54 PM

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Bad news sad.gif
Clareen
post Jan 22 2014, 05:57 PM

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Should be announce around these few day right?

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