Cannot use. A third of my relatives still alive at 90. One is 98 now. Due to better medical care. That’s why EPF must last till 100. Fall back to outside asset if live longer.

The median malaysian salary is RM2600 per month.

https://www.imoney.my/articles/monthly-median-dosm

Assuming statutory kwsp contributions of 11 and 12%, thats RM598 monthly.

is it called Sunway Sanctuary? thanks

yup... imagine engineer working in some local factory after 2-3 yrs still only getting 1.8k pm... what a joke

obviously you not their target audience lah

anyways... im just thinking, work liao 20-30 yrs... half a lifetime gone... still got another half a lifetime to go... one can really have a go at another 10 yr career

nah... 4-5 yrs ago was 220k or something...

edit:... from 2015... https://www.theborneopost.com/2015/04/25/ep...for-retirement/

“Now, only one in four of active age 54 EPF members have RM196,800 or more in their EPF account, the minimum basic sum recommended by EPF for retirement,” they pointed out to The Borneo Post.

EPF already have law that guaranteed minimum 2.5% dividend....
what else these people want??? I also don't know...

SUS'ed huh...
Some people went to report my post for "Religious / Racial Insinuation or Provocation"
Admin feels same way. so gotten "free holiday"

So far i have been using fpx in EPF-app, if 29Jan then it will be reflected  on 31Jan but deposit date 30Jan, irrespective of weekend/weekday. Only worry is bank/epf system screw up.

welcome back, any idea kena reported how many times baru reach suspended?
wonder  how many more to go b4 i reach there...

aiyo anticlimax lah  you so little only...
can see he meant to lose min, dont  deposit too early or too late..

some even better...

rm3335 to get the i-saraan rm500 

actually 3334 also can but pantang with number "4" so make it to "5" 

ehhh can self contribute with cents too???.... I never tried before.... can ahhh??

 

Zahid: New hires in civil service will contribute to EPF, Socso

He said that the contribution rate for these schemes would align with the prevailing rates observed among current employees in the private sector.

https://www.nst.com.my/news/government-publ...-contribute-epf
more contribution $$$ for EPF monthly basis...
more headache on where to invest 

positive or negative impact on future EPF dividend rates??? 

Hopefully he does the job well.....

EPF is wayyy bigger than PNB... Bigger fund size, more risk & foreign exposure

Better reduce workforce to 30%, then can keep pension. Win Win. No more deadbeats. Gov reduced burden and those who excels then deserves a pension.

hope they can withstand the new flow of contribution...

I'm worried they cannot handle the extra $$$ being contributed....

later become like PNB / ASNB.... dividend from 6 - 7% become below 5% 
(btw see weird the connection, EPF new boss also from there?)

Lets give the guy some time to perform. These roles are not for long term, they can be replaced anytime. The incumbent was from a different industry and still he did okay.

Sikit, sikit, jadi bukit. 
But no more commitments now.

For 1m principal sum

at 5.5pct is RM55k

at 6.0pct is RM60k

difference is only 5k

does not warrant any heart attack ...

am quite sure the rate will be better than the 5.35pct of last year !

Good Read for everyone 

Octa - Retirement Planning in Malaysia: EPF's Investment Options and Its Alternatives
https://www.godubai.com/2/7695/Octa--Retire...n-Malaysia:-EPF

EPF Investments

EPF, known locally as KWSP (Kumpulan Wang Simpanan Pekerja), is a statutory retirement savings scheme that serves as a fundamental pillar of Malaysia's social security system, with contributions mandated for both employees and employers. It is designed to provide financial stability to Malaysian citizens in their golden years. EPF investments are professionally managed by the EPF Board.

Benefits of investing in EPF:

   1. Long-Term Stability. EPF focuses on preserving capital and providing a reliable source of income in retirement. It offers a guaranteed annual dividend of 2.5%, leaving contributors with peace of mind because they know their savings will grow steadily over time.

    2. Diversified Investment. EPF invests members' contributions in a diversified portfolio of assets, including equities, bonds, and real estate. This diversification helps spread risk and potentially enhances returns.

    3. Tax Benefits. Contributions to EPF are eligible for tax deductions. This provides an immediate financial incentive for individuals to save for retirement through EPF.

Cons of EPF:

   1. Limited Control. Fund's investments are made on members' behalf. The EPF's Members Investment Scheme (MIS) offers more investment choices, but it still limits them to some extent.
   
2. Lack of flexibility. EPF has certain withdrawal restrictions in place, though dipping into retirement savings became easier during COVID-19. This lack of flexibility in accessing funds can be a drawback, especially during unexpected financial crises.

    3. Limited returns. The returns earned on EPF savings are predictable but modest. Over the long term, they may not provide the same level of wealth accumulation as less conservative investment options.

Hi Bro is it "that even the Director General of Insolvency cannot touch."?

Great review BTW

EPF type of savings is good enough for me but there is one thing that worries me. Maybe some of you know the answer.
Lets say my wife is my nominated person to receive my EPF when I konk. What if "tai kat lai see" something happened to both of us, now the money passed to her siblings? Because technically I named her as my beneficiary, so the money goes to her. If she is also not around, then pass to her family members? not to my family members?