EPF DIVIDEND, EPF
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 Mar 6 2022, 08:10 AM
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#61
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6,248 posts Joined: Jun 2006  
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QUOTE(guy3288 @ Mar 6 2022, 12:14 AM) dont lump sum, split 12 months better? ppl usually don't suddenly have 60k.... anyways we were discussing limitations on the online compound interest calculator and how to go about managing its input.... lolSurely put RM60k on 1.1.2022 should earn more than RM5k monthly.. at the end.  |
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Mar 9 2022, 10:41 PM
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#62
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6,248 posts Joined: Jun 2006
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wah you guys still rationalizing how to make tiering fair ah...
to me... the more you keep, the older your account, the more you get... with vip lane, free parking, birthday shopping vouchers, lounge access, etc... |
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Mar 10 2022, 07:27 AM
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#63
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6,248 posts Joined: Jun 2006
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QUOTE(!@#$%^ @ Mar 9 2022, 11:09 PM) haha i'm saying 'leeching' off others is nothing new. and as i said, epf is dictated by political pressure. do good? like seriously? nope. give 6.1% is do good enough  give 6.1% after donating to emergency... ok bah I'm actually ok with this... emergency help for any calamity... magika liked this post
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Mar 10 2022, 09:42 AM
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#64
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6,248 posts Joined: Jun 2006
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QUOTE(statikinetic @ Mar 10 2022, 08:44 AM) I think those trying to justify EPF tiering has their fundamentals a bit mixed up. Thought it would be a dead topic by now. QUOTE(familyfirst3 @ Mar 10 2022, 09:01 AM) It should be dead please. Let this topic rest. We dont want this at all. some leach keeps bringing it up... they want your money... |
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Mar 13 2022, 07:03 PM
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#65
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6,248 posts Joined: Jun 2006
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QUOTE(chewkc65 @ Mar 13 2022, 06:00 PM) The main consideration is not about number of contributors, i.e. 68K/14.8M = 0.46%. correct.It should be about fund value of RM116M/RM936.2M = 12.4% Tiered rate dividend is based on subsidizing the income of lower-end contributors with the income of higher-end contributors. But if the high-end contributors pull-out, where is the subsidy coming from? Not to mention losing 12.4% of fund value. as a matter of principle... I will 100% withdraw if forced to tier... but for now plan to ask wifey put 100% salary into epf...  HolyCooler liked this post
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Mar 13 2022, 07:19 PM
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#66
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6,248 posts Joined: Jun 2006
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QUOTE(pearl_white @ Mar 3 2022, 08:34 AM) The tiered dividends would have to be above returns for FD rates, what basis for that rate depends, eg. choice of 1, 2 years effective rate. Otherwise, ppl would just pull out. let's use this year 6% div... FD 3%... so let give 4% to the 1-10m group...so for the minimum 1m... kena net cut 2%... putih putih 20k gone... keep in epf is really just... FD + 1%... this is no good incentive |
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Mar 13 2022, 08:54 PM
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#67
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6,248 posts Joined: Jun 2006
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QUOTE(Wedchar2912 @ Mar 13 2022, 07:23 PM) I disagree, if want to do it, the cutoff should be a lot lower.... But are the 100k account ppl poor?I say 50 to 100K rm. Anyone above say 100K balance, just pay 4%, and pass all the extra to those below 100K balance. Only then can it be a meaningful 10% pa for those below 100K balance. one could be a genius 25 yrs old on track to > 10m in epf before 40... he doesn't need charity or leftovers by some rich dude after 10m withdrawal isn't the tax system already in place so the rich pays more to the gov... to also help the poor a far simple approach instead of tiering is to make the dividends taxable... |
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Mar 13 2022, 09:45 PM
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#68
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6,248 posts Joined: Jun 2006
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QUOTE(Wedchar2912 @ Mar 13 2022, 09:29 PM) Beats me why they bought this idea. racial and inequality... politics lor...anyways... I think this idea is dead in the water... I will stop here...  cheers |
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Mar 19 2022, 06:01 PM
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#69
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6,248 posts Joined: Jun 2006
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QUOTE(Human Nature @ Mar 19 2022, 04:53 PM) ^ that and poor financial literacy can't do much when you have 'no' money after food and rent... low pay is the big problem being a tongkat nation... and everything my previlage... majority waiting for durian runtuh... the other... This post has been edited by dwRK: Mar 19 2022, 06:04 PM LOvebugs liked this post
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Mar 19 2022, 07:01 PM
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#70
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6,248 posts Joined: Jun 2006
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I have wild idea... every child when born... gov give 5k put in special epf account guaranteed 5%... at 60 yrs will have 93k already can only withdraw after 60... if die before 60 or migrate... gov takes back... give to next newborns to continue the scheme... rakyat really need to save up 147k (240-93) only... let's say 150k this low number should be easier to hit... if rakyat match 150k they get an extra bonus incentive for not withdrawing the rich can "sponsor" one or more child to get started... and get a tax break... this reduce gov burden just too bad politicians just wanna score points win elections rob Peter to pay Paul and put money in their pockets... also gov bankrupt... needs extra money to float around to support economy and fake gdp data... KIP21 liked this post
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Mar 19 2022, 07:13 PM
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#71
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6,248 posts Joined: Jun 2006
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QUOTE(Wedchar2912 @ Mar 19 2022, 06:30 PM) then the opposition or the politicians and media should tell the poor to directly go ask the gov for handouts.... tied div for what? 20% on 1 small amount of 5000 is still a small amount of 1K rm, and they cannot touch. the poor already doing it lah... a lot of poor dun have epf also... ask for direct money and can eat full full....  gov doing a lot to try eradicate hard core poor outside of EPF... all these tier dividend sound like propaganda prepping us to get ready so when we gets robbed in daylight... we accept quietly like a mouse...says thank you to the gov... there's no evidence to show the low value accounts are poor ppl... all I've heard is the low value is not enough for retirements... and should rob Peter pay Paul thingy... |
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Mar 20 2022, 12:48 PM
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#72
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6,248 posts Joined: Jun 2006
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QUOTE(kevyeoh @ Mar 20 2022, 10:26 AM) 30 years ago rm1mil probably can get me a big bungalow and big car with spare cash left as well after spending... imho... epf retirement money is for chapfan, utilities, holidays, medical, etc... a bit too late for house/car/big ticket items...But i am still very happy today if i can manage to save up rm1mil in my epf account and probably afford to buy a small condo or apartment... You are right about inflation but either you know or have ways to earn better returns or still make sure you save in epf get better returns than fd is still something and better... TOS liked this post
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Mar 20 2022, 12:57 PM
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#73
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6,248 posts Joined: Jun 2006
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QUOTE(statikinetic @ Mar 20 2022, 10:07 AM) In my opinion, it becomes a non-starter to the problem it tries to address. i did say is a wild idea... but it does address the low value accounts, and this sum is only yours at retirement... The problem we have now is that the government has run out of money and are throwing people's retirement money at them for short term happiness. Even if we got the government to pay for every child born with money they don't currently have, the adhoc withdrawals will just see the B40 take the money and spend before their retirement. If we go back and disallow EPF withdrawals, we do not need the solution in the first place. Or at least there are better measures to address the core issue. Which is the runaway inflation spiking the cost of living, and corrupt politicians bankrupting the government who has no funds to combat it. its also obvious politicians dun care... where they see got money, they try to take... all these one-off withdrawals is band-aids to a gangrene |
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Mar 20 2022, 01:18 PM
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#74
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6,248 posts Joined: Jun 2006
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QUOTE(_kilakila_ @ Mar 19 2022, 08:27 PM) Well, for "every child born" means taxpayer pay for those race that usually born at least 3 children and give them free money while most taxpayer typically born 1-2 child max? why would taxpayers allow govt do that? can easily change and let parents deposit 5K for their newborn... give them a head start... secured monies for epf...taxpayers are already subsidizing the poor and plenty... QUOTE(Wedchar2912 @ Mar 19 2022, 08:40 PM) not my place to say, but we should not be encouraging indiscriminate breeding. just saying. they breed regardless... its a "breed or overrun by others mentality".... also "kids must honor parents give them money"... chinese used to have half dozen kids in the old days... anyways... cheers... |
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Mar 20 2022, 07:43 PM
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#75
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6,248 posts Joined: Jun 2006
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QUOTE(statikinetic @ Mar 20 2022, 07:11 PM) I actually wonder if there are any pro-tier rates advocates here? i am pro tier...1. above 60 yrs old... extra 1% 2. more than 1m... extra 1% 3. zero withdrawal... birthday bonus ... KIP21, romuluz777, and 1 other liked this post
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Mar 20 2022, 07:52 PM
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#76
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6,248 posts Joined: Jun 2006
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QUOTE(kevyeoh @ Mar 20 2022, 06:24 PM) well...if you are targeting RM1mil only then i guess yes la...definitely not for car etc...but what if you manage to hit RM2mil? with 6% dividend...RM120k can get a pretty decent car leh... just manage for one year do part time to cover chap fan and utilities...haha yeah... but high income ppl also high expenses... need to maintain pre retirement lifestyle... otherwise cultural shock |
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Apr 17 2022, 08:29 AM
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#77
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6,248 posts Joined: Jun 2006
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QUOTE(MUM @ Apr 16 2022, 11:48 PM) Per November 16, 2021, article, maths is ok... but the construct is giving me headache... lol...Some 6.1 million Employees Provident Fund (EPF) contributors are now left with savings of less than RM10,000, according to a written reply from Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz in Parliament today. EPF Bumiputera members was even more alarming, as some 4.4 million of them or 54 per cent now have less than RM10,000 https://www.nst.com.my/news/nation/2021/11/...wan-rakyat-told 6.1 mil minus 5.3 mil = 0.8 million yet to apply till empty. ðŸ˜ðŸ˜ðŸ˜¢ |
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Apr 17 2022, 10:12 AM
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#78
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6,248 posts Joined: Jun 2006
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QUOTE(prophetjul @ Apr 17 2022, 08:09 AM) Then thereafter, they will keep on horning on "54% bumi have 0 in their EPF". yup... but M'sia 67% bumi... this means 13% bumi doing better than average... |
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Apr 17 2022, 11:11 AM
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#79
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6,248 posts Joined: Jun 2006
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QUOTE(MGM @ Apr 17 2022, 10:45 AM) They make up of 90+% of civil service n many r in the pension scheme not contributing epf. how does this skew the stats / distribution? |
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Apr 17 2022, 11:12 AM
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#80
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6,248 posts Joined: Jun 2006
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QUOTE(Ramjade @ Apr 17 2022, 09:06 AM) I am one of the few who withdraw. Looking to transfer it to Google or BlackRock. we opposite... wifey 100% salary into epf... lol TheEquatorian liked this post
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