Hi all.

I am making plans to draw out some funds from account 2 for a property purchase.

Given that it is now December, is it advantageous to hold on the withdrawal past 31-Dec so that my funds would be eligible for 2023's dividend? Or the actual closing for the year happens on March/April where the MOF announces the dividend rate then?

how powerful ??

by hook or by crook

even via creative accounting

to be 6 pct above

something for the rakyat to talk about throughout 2024

after all Amir was in kwsp and now as FM 2 !

I fas fas took out calculator and key in 6.25 pct

Wa lao aye I love the number which popped out

My eyes also popped out lohhhhh

Wakakakaaakaaaaaaa

alas for now its just wishfool thinking .....

Come think of it, one is at this level, or i might think it this way. I can also get elsewhere say 1-2% lower than EPF's rate which I can forgo, in return of being locked in for the next 20+ years (if putting in for their children whom are in their 20s or 30s). Also bearing in mind, the EPF policy might change one day, mana tau, later they said you cannot withdraw one lump sum upon reaching 55 but by % only

Just worry that one might need to access the lump sum at one go but unable to. It’s not about wanting it a lump sum or not, just circumstances making you in need of it. That’s my concern cause they are many out there, this is their only life savings and nothing more.

It can't be every time also helping m40 and b40 only. People like me who helping myself and contributed so much tax to the government never get anything from the government, except this time they increased the contribution amount to 100k. And this increment actually is benefited both sides, government /country get benefits also, not just me.

Agreed they should improve the implementation. I like the part that my parent couldn't get the free money when the government people told my parent "your son salary is high so you guys not qualified to get the free money". The gov knows they weren't qualified due to i deducted some of my tax by putting their IC / names into the tax form. But most people don't pay tax, and a lot of these people are rich, gov unable to track them.

As for the "worth" more part, i think could be right or wrong. Lots of us pay lots of tax each year, the extra 40k we put in, let's say the yearly dividen is 6%, rm 2.4k dividen per year,  for most of us we didn't even get back 2-3% of what we paid to the government each year.

The bigger EPF is, the better they are. I believe size give advantage negotiation premiums and discounts. Same reason when we have 100k to invest, we’re limited but once we hit the millions mark, we get free lunch from diversification and we can talk balancing portfolio, risk management, timeframe. Etc.
EPF could chase away t20 investors, limit 1m or tier dividends, but they won’t knowing people with millions have alternatives and with a little risk, do even better than EPF.

Actually speaking many contribute less than the 100k

Including me... For this year 😁

Don't care actually because even the old 60k limit... I didn't fill up... Now with 100k more cannot reach & fill up 😔

Too big.

But it depends how you define good. If approx 5%-6% annual returns in MYR is considered good, then yeah its ok. But kwsp wont be able to achieve much higher than that.

I personally think kwsp Is pretty decent for my financial needs, myself being close to retirement. But I dont contribute more except to max tax relief. Prefer to diversify away.

But son has high salary is not a valid condition lor...what if son is Char Siew?? Just saying the scenario...not saying you are Char Siew. 😅

Wah....SUPER CHAR SIEWS!!!! 

PETALING JAYA – Ibarat kata pepatah, seorang ibu mampu menjaga 10 orang anak, namun seorang anak belum tentu boleh menjaga seorang ibu.

Itulah perumpamaan tepat yang boleh digambarkan terhadap kisah seorang wanita yang diabaikan 12 orang anak sendiri.

...

The system got a restriction. If more than 1 person claim it, it must be divided by X amount of people. It was only rm 1500 to be claimed, so 10 kinds claim it, each kid can only claim 150 max.

Side note : if they never seen the parent for years, high chance they don't have their parent's ID number also, so they can't claim.

Recipe for disaster to drag all and everyone into audit. A simple DB query search by LHDN can pull out records of any parent that has more than 100% claimed by linked children (pun intended) records. It's just when LHDN staff wants to run those query.

I have similiar friend who feign ignorant that other siblings are not claiming. In the end, all haul up for audit and fine + penalty.

Whether siblings are on talking terms or not, do not play with two things in life: death and taxes.

10 Feb 2018: EPF declares 6.9% (Conventional) and 6.4% (Shariah) dividend for 2017.

2026 dividend maybe can breach 7%.historical high

I'll put it back to EPF wait for 7.9% next year. 

Really need to see this upcoming Shariah EPF rate....

Already some not satisfied with the lower rate.....