And also when you have saved over 1.05mil, you can take out any extra money

https://www.kwsp.gov.my/member/withdrawals/...rm1mill-savings

Let's murder his/her probabtion! 

I have FB account...which I don't post anything except private groups for my hobbies which is basically about learning and not showing off. Lol
Yeah, I have some friends.who bought big cars and house when got good times...bad times, need to come to me pinjam money. Relatives also like that, Niamah, totally so sense of financial.planning. Now I teach my kid about the importance of financial planning and responsible spending. I think he picks up the habit too. I asked him if he wants a new handphone...I kena lecture balik, why need so many phones when his current phone is just fine. 🤣

Bcoz most people don't have the discipline to save... if not for EPF, a lot more malaysians cant retire ever.

Retirement saving is a modern invention, ppl back then die earlier or stop working when they no longer can.

end Feb announce...
i already assumed it will be 5.0% in my spending budget for 2023
but hope it is 5.8% lar...   

Lets say ..... i receive RM500k dividend , I will make sure to spend it all and if by the 10th month will start distributing to my children and a certain percentage to....

The rakyat would do better to force the government to strengthen the economy, upskill our people, create more job opportunities, support our SMEs...

The rigor and conditions EPF imposed to allow members to withdraw money - medical, education, housing, "rich enough", etc. - should also be imposed for any "my business failed" (not for your retirement fund to solve), or "I have no income" (also not for your retirement fund to solve) situations...

So what's next? Ask to withdraw money from Tabung Haji?

Seriously? 0?
Dump the whole salary into EPF? Even exceeding the 60k allowed?

haha... but chances will be that if I were to give away such a large sums of money, it will be to set up a proper charity organization and manage the funds well to generate income to spend on charities.

hence the headache... and i am sure, there will be plenty of complaints about how much work it is.

Quote unquote "but if I have 4 million rm, the extra 2% means 80K rm.... can buy extra IPHONEs for my family..."

if i have more than 4 million rm , then how ?? how ???

   

We gold 'bug' = insect. Kwsp = man.

We own both assets, we become = insect man.

These people will make it gov problem. Rest assured.

haha.... said person should not aspire for retirement... aspire to work till death or reach 100 million, whichever earlier...
cos obviously having 100 million ringgit is enough to retire in Manhattan or central London or Tokyo or Shanghai rite?
(waiting for someone to say 100 million ringgit is not enough... hehe)

each of us on average has 80 years of life.... unless one is a certain ex-PM... hehe.

KWSP E-Wallet - someone go propose to PMX
then KWSP become a superapp even better than Grab can do the following:
1. buy stocks
2. invest in funds
3. renew car and motor insurance
4. book movie tickets
5. integrate with PTPTN
6. integrate with PADU so when buy cooking oil / petrol can show KWSP app qualification
7. the list goes on and on and on...