If I can I would.
But I have not reach 55 years or 50 years

In fact I took out as much monies as possible when given the chance to do so.

And in my current job, I took a contract role in such a way my company does not need to pay epf to me.

But side note. Do you have mental issues?

So you can attack me but I cannot do like wise?

All these time I had planned on taking out just the yearly dividends but now reading all these, I just might withdraw everything. I’ve no more trust in EPF even if they U-Turn on this one. Anyone else feels the same?

Actually I will do monthly withdrawal thing voluntary but the thing is I need RM5k monthly and that amount to be increased by 3%-4% yearly depending on inflation rate and I guess this value will be different from person to person. If they use RM240k/20 years without factoring in inflation then my EPF can last me till maybe 200 years old. So my vote is NO and if they still do, I will vote the next PM who say can take out my money.

what if people only have all their savings in EPF, maybe 1-2 million but outside nothing left.
then if everymonth only withdraw small amount, die lo.
the money how also cannot finish lo

Dude the majority doesnt know how to manage the money . you dont see yourself but the morons , cleaner or the technicians who spends all his money modifying his dumbass motorbike instead of sending his kids to kumon .

Now I know why you are so upset over my previous comment.
Because you just cannot handle the fact that it is going to happen.

Why defy logic. Almost everyone here already supports the gov action. Maybe not 1k but definitely it's going to be periodic.

As for those special people. They have special rules.

The funny thing is, you insulted me yet claim I was doing personal insults

Never knew Malaysians are this unsophisticated. Even Singaporeans are so much better. What a disgrace.

bro, this time different....because the country is really going downhill at accelerated rate due to external and internal factors. Now it is not so much taking your money but throwing a wrench in your plan. If you have a lot outside beside EPF, then it's ok. If EPF represents over 80% of your networth, then better reevaluate your strategies.

New members also can consider as new parameters being born since xx.
It think changes is inevitable. Workforce sectors now is not similar as decade ago. EPF will adapt to be relevant. Gig workers esp, don't have EPF. Should expect more changes to come, surely they will find a way to target these people.

law says so... manage until 50 (ori i think)... then 55... now 60...

future extend to 85... lock down 240k for slow drawdown... excess can lump sum... i support...

Look like EPF's proposal to make it mandatory for new members to withdraw their savings periodically instead of a lump sum upon reaching 55 years old will be a generational change. Existing members optional.

Generational change = 20 to 30 years time?

Poster claiming govt agreed monthly epf withdrawal is fake

...

where got people in here RM0.01m ?

my parent retired at 50k... also survive...

you live with what you have when it's time to retire...

worse ask from friends or kebajikan.

live in malaysia, sure wont die.

I always thought the 10M is in cash form and not locked with loans. So, my calculation is based on the 10M cash, and not in the networth form

KUALA LUMPUR (July 11) The Employees Provident Fund has clarified that there is no change to the current lump sum withdrawals at age 55 and 60 for its existing members. The current EPF monthly withdrawal option only applies to members who voluntarily opt in.

In a statement, the EPF said the proposed mandatory monthly withdrawal option will only apply to new EPF members born in or after 2010, and registered with the EPF after the implementation date.

"The first payout under the mandatory option is only expected to be made when these new members retire, some decades in the future. This proposal is still being refined, and the EPF assures that any decision regarding the mandatory monthly withdrawal option will only be made with careful consideration and alignment with the EPF’s commitment to the best future interests of its members," the statement read.

(More to come)
EPF: No change to lumpsum retirement withdrawal for members

...
but  8-10% is rather ambitious... what  you have in mind?
...

Thanks for the info.
Yup. That is their lifestyle.

My FB has over hundred of angmoh friends due to a certain hobby i have. And in real life i have some closed angmoh friends too included Serbia, Ukraine, Sweden, etc.

Their lifestyle really surprised me when i first get to know them. It is something like, today earned enough to go holidays, then will spend all the money on holidays, after no more money, back to work. Once earned enough again, go to enjoy again. Same for collecting collectibles, when they have money, they will buy it, when they need money, they will sell it with the mindset "i can buy it again when i have money next time", despite the collectible is very rare and hard to get again. Nothing wrong with such mindset, but really very difference from Asian especially Chinese people's mindset.

But i do have a few angmoh friends in real life who are planning for their future by saving more money. But majority angmoh i met are mostly with the mindset today got beer today drunk's type.

From what i observed and understood, they aren't expecting the government would do anything for them or have faith in the government system, but more like they didn't plan for retirement and thought they could continue this kind of life style till they are leaving the world, they have no planning to save money at all.

A few days ago, one of the angmoh up a post saying he didn't want to continue that kind of life style anymore (slave to materials, and always need to worry about not enough money to pay bill), and wanted to sell all of his collectibles.

Talking about faith with their countries, i saw my USA friends always complaint about the government, mostly the abuse of monthly money gave by the government to those un-employed people, these angmoh who work hard feeling very angry because they believe most of their tax money going to those drug addicts or those people who never want to work. I was also lurking in some western gaming forums, they are some USA people who publicly admitted they abused such system to get monthly money and no need to work, their PC hardwares are all bought with such money from the government. Have a Malaysia friend, one of his relative living in Australia, got over millions of money / assets, over 50-60 years old, but the relative still able to apply monthly dole money due to she is unemployed, kinda fucked up i would say.