Nobody rob your money.

Conventional EPF account still running, not the like straight away give you 2.5% next year.

If non-syariah portfolio stocks are performing, then conventional account may get higher dividend as well.

Please don't throw accusation simply. It may be deemed defamation.

i am not just merely looking of the % return offered by islamic vs conventional (be it fd or epf).

issue is the economy effect/power of our future generation.

enlighten me, WHERE this funds in I-fd/epf by the banks/gov goes to or invested into????? all into I ventures, business, products, etc etc>>>> who stand to gain???? simple maths here:respect:

don't be fool as if you are getting some "gula-gula" now (higher I-fd/epf %), but in long run, WHOSE business/venture stand to gain at the end, most sad part, using WHOSE monie/modal??

in short, you know WHY ?, dulu dulu all ah-peksss insist must only put fd/ land/rubber estate geran if need to be charged, only to PBB????

This post has been edited by vincentwmh: Oct 21 2015, 01:24 PM

This post has been edited by vincentwmh: Oct 21 2015, 01:03 PM

i am sure, we both will live long enuf to see. hope you are right.

i do believe, a policy is designed for a purpose. has tasted the sweetness in private banking I, now need more

let's see then!!!

This post has been edited by vincentwmh: Oct 21 2015, 01:25 PM

nil

This post has been edited by vincentwmh: Oct 21 2015, 01:01 PM

Why do people hate EPF so much when they have been giving high dividend for so long.

Anyway I am going to ask a question, do you think conventional or syariah portfolio give more dividend?


edit: some grammar mistake

This post has been edited by fatw3apon: Oct 21 2015, 01:02 PM

I will answer your question with the following question.
1. Do you trust the one who handle epf?
2. Why is epf always being pick on for you know what?

Anyway, I am STILL OK with epf as long as no news appear that one cannot withdraw. But I wouldn't dump everything into it. As Unker dreamer said: diversify!

I reckoned same dividend. Name only different. If they give different, sure cause an uproar.

I am very very suspicious to see this change right in the middle of 1mdb fiasco. Naturally, nobody can be faulted to think about why suddenly now. Why not last year? why not 5 years ago? It's not like syariah is something that appeared in 2015

That out of the way, my foremost fear is that they're trying to hang on to our money as long as possible. Remember just earlier this year they try to change withdrawal age? They dropped that after public furore.

Now they know they can't impose age 60 for us malaysians, but for those older than 55 who have been voluntarily putting money into epf ... i know many do because 6.7% is way better than fd's 4% ... now they'll have the money stuck in there till 60! Actually, looks like even if you're still working after 55 the contributions from your salary and employer will also be affected



Back to my biggest fear... if you opt for syariah, is the election reversible? If you opt for syariah, is it possible that you can't withdraw your money at 55 because of some obscure syariah rule?

The amendment doesn't state you can't withdraw after 55, even one opt to KWSP-i, so don't need pre-judge on anything that is not occuring.

If EPF intend to hang on the money, they can impose higher age withdrawal, or emulate what is done by CPF.

But they said can only withdraw after 60 if one were to put money in after 55. Am I missing something? Why double standards? Any money deposited before 55 can be withdraw but any money deposited after 55 years old cannot be removed?

What did CPF do?

It is to prevent contributor that after 55 (I had seen a number of real case) treat EPF as saving/FD account, want money time, simply file for a withdraw, which doesn't serve well as a retirement fund in the first place.

Somemore, the sum generally won't be too big for 1-2 years saving in EPF, so there is no urgency for the withdrawal.
If really need to money, can opt out for 55 years and above one in the first place.
It is not a mandatory after this age.

If opt in, treat it as 5 years FD, with the rate better than FD.

So not a big issue.

one question comes into my mind now.

which one would give better dividend rate? kwsp or kwsp-i


and those fellow who concern. please don't mislead people into thinking after this EPF would only give 2.5% dividend. the 2.5% thingy already there since donkey years ago if u don't like EPF, then no one stop you from withdrawing & out the country

don't mislead noobie. the 2.5% thingy have been there since donky years ago.

and for god sake. even ASB don't give 7.8% divvy (ex bonus)

This is 100% correct.

The above would be the intention of the EPF - exactly. They do not wish to continue giving contributors older than 55yo who have contributed all their lives to continue earning dividends and withdrawing for their personal use when necessary. I was at the EPF recently and a customer service personnel there in fact tlod me that after 55, we can do whatever we wanted with our money, and that we 'can enjoy the freedom and luxury' of taking out only the dividend for our personal use, or whatever amount that we deem necessary.

We can leave whatever wish inside the account to generate more income. The lady was telling me that only the Msian EPF has this great benefit for her senior citizens,... or warga emas.

Well,... so much for this great benefit now....

If we leave any sen inside our EPF account when we reach the age of 55yo, then that amount WILL BE LOCKED INSIDE till we reach 60yo. If we deposit any funds inside the EPF after we reach 55yo, then that amount will again BE LOCKED INSIDE till we are 60yo.

We can't treat this 5-more-year thing as a 5-year FD, because the 'interest rate' is not known. If the interest rate is known, then only is it a 5-year FD...

Secondly, we need to see the dividend payout percentages next year for each of the KWSP and i-KWSP schemes. Then we can read where the advantages are for contributors and for the EPF.

To all,..........

LEARN TO INVEST. NO ONE WILL TAKE CARE OF YOU.

After redeeming my ASX funds, I am still struggling to go into the mkt safely and profitably,... quite some work is involved, but the satisfaction that comes from it all is you get to learn how to invest,... which, at the end of the day, bodes you well, than depending on some fund, or some entity to help you,....

One has to learn sooner or later,... better to start earlier,.... no one will care for your income than you yourself,....

The other issue now would be from the employer's end,... we are all contributors, and some of us are employers too.

How do we contribute now to the EPF as employers ? How do we contribute to the i-KWSP scheme, if we have employees who opted for the i-KWSP scheme ?

can u back up / give proof of your statement saying shariah account contributors would get higher dividend rate than conventional contributors

Hansel you are wrong there. If you are below 55 and all your life you have been contributing to epf, you can withdraw all/partial when you hit 55 years old.

That rule only apply if you decide to add money into epf after you are 55. If you don't add money inside but just withdrawing the money, you are allowed to withdraw. Only if you add in money then you have to wait until you reach 60 years old to withdraw.

reinvest in Al-Long

You read wrongly and misinterpreted my posting wrongly,... I said if you have any sen left inside the account when you touch 55yo, it will be locked inside ill you are 60yo. In other words, if you apply to withdraw any amount by 55yo, you can OF COURSE WITHDRAW when you touch 55yo. You may still have 'leftover' inside the account after this 55yo withdrawal.

As for withdrawing any amount 'leftover' beyond 55yo, they are silent on this.

As for adding money into EPF after 55yo, you are not allowed to withdraw till you are 60yo.

Please read the grammar carefully,... and carry with you a tinge of legal conceptions with it.