It will take some time before a official statement will come from EPF. the draft has to clear many many people, as this is a response to the PM and will have consequences to EPF's independence and careers.

but why concerned? it just take time...

even if they do not proceed with it, what extra risk will the original 60K limit contribute to your wellbeing?

If you are still working, just increase your personal deduction.

either medical nanites or home automaton helper that will take care of the elderly...

please... before I become too old. lol

hopefully my EPF dividend is enough to pay for yearly subscription to such services.

This post has been edited by Wedchar2912: May 12 2023, 12:27 PM

did the chap made a slight mistake in stating that the long term CAGR is 2.6%
i would have thought it was close to 6%.

nope... it is like PM6 suddenly found extra 10K ringgit in his 1mdb account.

It does look like EPF is trying to get rid of their property portfolio....

just wondering if it is cos their view is negative on real estate, or they are hawkish on interest rate, or they forsee some demographic changes....

oh yeah, got that project.

but it is kinda weird that they needed to do such rejigging when EPF is a trillion ringgit fund.
a few billion ringgit to EPF is like shouting to everyone that one has sold a few thousand shares of Maybank (and the chap is worth 10 million).

then again, could be the media needed news to report.

yeah... 3% higher but total funds also up like 3 to 4%.... its a wash....

support this... for those with lesser than 1 million ringgit....

make the penalty to be 15% and contribute this into the dividend payout.

what????

take 2% or 3% of what? dividend or total assets in EPF? per year?

so what we can look forward to is basically dividend yield of 3% max....
and now government hospital is paid for by hardworking citizens of Malaysia of private sector mainly. But government servants get to enjoy hospital care.... nice...

Bloody hell....

Just create a new tax called NHS or Medicare like what UK and/or US does....
(which I will support now that I have retired... lol. I can expect our gov hospital services will improve, right? )

EPF contribution is for retirement or pension, not for silly stuff like NHS.

hehehe... bruce, don't lar go share share this top secret.... hehe

would think that is the only realistic way? all based on lhdn submission and deduction.

i know FD interest are no longer reported to lhdn in any form anymore for individuals. rental income already up to individuals if they wish to come clean. share dividends I don't really know because some firms still send me div vouchers, but always written 0 taxed.

maybe EPF should start buying insurance coverage for all its members (of course it won't be free, but again this will be a case where everyone gets the same group insurance coverage) and reduce the burden of government hospital. Because it is a insurance, one can get treatment from private hospital too.

There, this idea is better than what DAP wanted EPF to do to pay for government hospital expenses.

Of course must have minimum conditions. To be entitled to this coverage, EPF balance must be minimum 60K rm.

Definitely related to EPF, so it is on topic.

My fault... the insurance I mentioned is medical coverage insurance, as I was criticizing DAP's proposal of EPF paying some silly % to cover hospital cost, regardless of whether EPF members are using the hospital services or not.

I did see the i-lindung a while back, but imho, life insurance and critical illness are only useful for those from young family where the said person didn't have a chance to accumulate wealth yet.

Assuming 240K rm at start of 56 years old, EPF div rate stable at 5% pa, achieve 0 balance by age 76 (ie 20 years drawdown),
can spend 1.6K pm.

worth it?

problem is if the starting amount is 240K rm, and cap withdrawal at 1K pm, it becomes a perpetual annuity...cos 5% div means 12K rm dividend already.

Then this will be even more draconian than SG's CPF version.... EPF want to keep our funeral and burial funds and more!!!!!!!
Any worse is everyone can only take out max 1K pm regardless of balance. haha




EPF and gov really need to be better in communicating this to the public...

This is a policy change... hence it is more the gov's move. Pointing at EPF is just a coward way out by PH gov.

Haha... while I understand you are sore and trying to be cheeky for some reason, you must also be really naive to think that the majority of us trust 100% of the current and future politicians of Malaysia's gov? Today say A but tomorrow is a different gov made of different politicians but of same rubbish DNA.

So, if you think your funds in EPF is not yours, then take it all out then if you can. If you cannot, then think of a constructive way to alleviate the situation. If you admit there is nothing you can do, then I guess all you can do is complain....

If one has been planning properly one's retirement and didn't screw it up fully (or gotten so much bad luck that it just didn't work out), 240K being withheld by EPF is just a joke vs one's retirement eggnest. 240K just pretend you put into a FD issued by EPF which will pay better than FD rate by CIMB.
And any worry that EPF will raise the amount withheld sky high, say 1 million, is also silly to ponder.

The only catastrophic step EPF can take is everyone's amount regardless of notional is frozen and everyone can only take out 1K pm... Now this is the only scenario worth worrying. (ponder under what kind of economic situation will this happen).

This post has been edited by Wedchar2912: Jul 6 2023, 03:51 PM

Rather than worry about my smartness, you are better off thinking of ways to take your funds out of EPF if you have any and is really worried....
Don't just talk and no action...

If really concern, be like me... took almost 150K rm out 3 months back to readjust my position...

This post has been edited by Wedchar2912: Jul 6 2023, 07:25 PM