Yeah probably. I just think it's a weak sales pitch though hahaha. Trying to sell their product just on the tax savings.

that means better stop self contribute epf for this year....?

i deposited 3k in prs few years back....then afterwards realize the money gonna be locked in there till retirement age (no flexibility) and interest rate not as great

so i stopped since 1st deposit

You have the opportunity to withdrawal up to RM 1500 per PRS provider from Account II now.

https://www.ppa.my/wp-content/uploads/2020/...Penalty-new.pdf

didn't realize this....but only for year 2020...not really benefiting me

thanks for sharing !

PRS doesn't have a "interest rate". It is not a FD that have an interest rate nor work as same as EPF.

PRS is a unit trust, its performance is tied to its portfolio investment gain/loss.

All gain or loss is about rise or drop in their investment, which can be seen from its daily NAV movement.
Whether the fund declare any distribution or not, it doesn't matter, as any distribution come from its NAV.
Eg. PRS ABC fund, NAV today is Rm1.00, next day it declares distribution of 3 cents, then you get the 3 cents, but NAV become RM0.97. So your total net worth in the PRS ABC fund still RM1.00.

Try diversify your EPF to unit teras

What is unit teras?

Teras means core right?

Typo. Should be unique keras

Nah what he meant is unit trust

thanks for clarifying

i guess the unit trust performance is not that great to me

Yes, even a star fund will sink if market condition is not favourable.

Lower upfront fees for EPF members investing in EPF MIS

Chief EPF officer, Alizakri Alias said: “Eligible and financially literate members may wish to take advantage of the lower fees structure to optimise returns and diversify their portfolio according to their retirement plans."

“For investments made through agents, the upfront fee will be reduced from a maximum of 3% to a maximum of 1.5%, while no upfront fees will be imposed for investments transacted through i-Invest via EPF i-Akaun, ” it said.

The EPF will also be reducing the service fee charged to FMIs by the EPF for the same period by 50%.

The service fee which will be reduced to 0.0625% from 0.125% is based on the assets under management (AUM) managed by FMIs and it is not charged to the fund or members.

For members aged 55 and above transacting through i-Invest, the service fee charged to FMIs by the EPF is now reduced to 0.125% from 0.250% per withdrawal amount.

https://www.thestar.com.my/business/busines...ting-in-epf-mis

This post has been edited by GrumpyNooby: Apr 30 2020, 06:34 PM

I dont understand this part. There is such fee?

how long the money will be in our account if we withdraw from EPF online?

if I am not mistaken,...I read before here......we cannot do withdrawal online....
withdrawal has to be done face to face in the EPF office

Fpr MCO yes can draw online from the web provided we have registered before with KWSP at the counter.

If let say we have more that a million saving in EPF, we go to the counter and wiothdraw, how long it will be on our bank? I heard EPF cannot give cheque or cash at the counter.

2 to 3 working days. Very fast.

roger. thank you.. i just check online that we can also withdraw online and transfer to our bank for amount more than 1 million.

Not related to the investor, it just FMI need to pay up to EPF for all the money invested to that FMI under EPF-MIS. It is a win for all FMI who have funds available under FSM which has always been 0% sales charge all along through i-invest , but for public mutual, they are reducing it from 0.5% to 0%.

This post has been edited by backspace66: May 3 2020, 09:05 AM

Yes. Thank you. Appreciate it.

You can withdraw online? That's new to me.