wants us to pile huge amount in first... and then later, without warning, state that all amounts in EPF must be converted to annuities where each member can max take out 2K rm per month as this is what M40 is living off.

those with more than 200K rm balance must donate their dividends to everyone else...

and government hospitals expenses will be paid by EPF moving forward....


did I miss out anything???

seems like Maybank server got issue morning till now. Cannot login to the website version...
mobile app version acting like idiot.

2023 second half already, and we can have this happening. BNM sleeping I think.

maybe maybank is telling you retirement can wait.... don't contribute but spend the money to spur the economy....

oh wait... payment is down....

lol

edit:
joke aside, I do expect system tergendala to happen once a while for any bank, but reading the comments at facebook and twitter, it seems to have started since morning. that makes it almost 4 hours already.
If we are to use purely cashless environment, this is truly not acceptable. Have to distribute cash across multiple platforms and keep some physical cash too if this can take a better part of the day to fix.

This post has been edited by Wedchar2912: Jul 25 2023, 01:43 PM

I suspect it is more scammers taking advantage of the confusion to steal login access from unsuspected users...
Again must thank Maybank for poor execution...

imagine suddenly you receive a SMS telling you your maybank account is frozen... please enter your credential again....

must still wrap with plastic bag.... my grandma long ago taught me that....
cos tin also can leak water in and cause damage to the cash...

but but but... have not even graduated yet at the time... no money to invest... i remember gold was like 2xx bucks per oz back then.... yum yum...

looks like to be safe should be vacuum sealed and packed with industrial quality plastic bag....

should not be so high... 1.5% of assets is almost hedge fund level already. Bond funds usually take max 50 bps pa for active managed type, and if anything, EPF behaves half like a bond fund.

but she is the youngest one usually, and chances are, she will remarry again woh...

still bini one should get the preference.

Unfortunately, this is out of our control and we just need to be cognizant of it. Those with 1 million and above, just withdraw until one is comfortable with one's balance in epf.

nonetheless, imo, I suspect lesser sound about not allowing those above 1 million to withdraw anymore, since EPF's aum is increasing again. Soon, the other end of the story will come up... too much money in EPF and noise about the rich abusing EPF like a bank account.

That is like a bank not to accept more deposits if the bank has enough deposits...
or a kid not to have the next piece of chocolate
or us not accepting the next salary increment of 10K rm just because our salary is at 50K already....




btw, the B40 and M40 will make lotsa noise about how unfair it is that they need to contribute but those abv 1 million don't have to.

yes, EPF should be considered as part of one's portfolio....

nowadays I don't just treat it as a retirement fund, but as a liquid FD fund also... as I am able to withdraw from it. It pays way better than any normal FDs around, and is liquid too.

Yes, so far so good. I have withdrawn many times.... except the first time, which I did it in a EPF office, all the rest are online.

No cooling period as far as I am aware. Online wise, you can only withdraw max 30K each time. So if you need to take out 50K, need to do it 2 times.
Put in will be up to your yearly limit.

edit: after replying, I went to see if can withdraw one short 50K rm. It seems like it can... I didn't click the final confirmation, so don't really know.

This post has been edited by Wedchar2912: Aug 16 2023, 11:52 PM

The request takes like a few clicks on kwsp website. settlement into my bank account by the next biz day.

no idea on this. I don't think there is a annual limit for withdrawal as long as the balance is above 1 million after the withdrawal.

the annual limit I mentioned was the limit to contribute, which is 100K rm for voluntary contribution.

This one about above 55, no idea (not yet 55).

To setup first time, must go to a EPF office to do so. Afterwards, can do the withdrawal via kwsp official website. (the settlement account has to be a bank account under your own single name. ie no joint etc.)
The original kwsp app doesn't allow withdrawal, but I don't know if the new kwsp app allows or not (I installed the new app once and then deleted it because it was damn slow to even login)

This post has been edited by Wedchar2912: Aug 17 2023, 09:00 AM

The next biz day. Usually late afternoon.

Mahathir meh? Even billionaires mostly die before 100, and they have unlimited access to tech and medical facilities.
(Mahathir sneeze a bit also go to IJN... rest of us cannot)

It is all about one's DNA I think... so need to look at our grandparents and parents and their siblings for stats.

add in ringgit risk.... risk of ringgit appreciating too much. like back to 4.0... then 6.8% dividend hope is bye bye...

How old are you?

Don't understand what you mean by gov now "making withdrawal so damn difficult"? The rules of withdrawal has always been there? EPF is a retirement fund, and are not meant for you to withdraw nilly willy as you like. The criterias for withdrawal are there. At worst, you can withdraw everything at age 55 and leave.

But I am sure when you reach 55 years old, you will be complaining why EPF don't allow you to treat it as a savings account.