I am interested in annuity, the fixed indexed one, not the variable. I don't find any commercial company offering it in Msia other than PRU, but I reckon private wealth managers can easily customise one. I can buy the idea that EPF have the capacity and capability to offer a fixed annuity of 4% to 4.5% payout p.a based on their track record.

That being said, I am categorically opposing mandatory implementation to all retirees. Some people's bad decision should not dictate the majority. And please don't hide behind "protecting retirees" excuse, especially if the fund solvency ratio is tied to EPF management's bonus.

But boss it's EPF

Not government paying one...

So whatever balance left need to be distributed to children or surviving next of kin

We should voice up for next of kin or future generations.

Who decide their retirement fund take in monthly or lump sum, is this fair to them who not yet work or born?

I believes The family members of these people and the victims itself, would definitely believes that the current system is not perfect. They prefer that EPF "should hv" locked their monies and just gives them some monies monthly by means of annuity.

Almost every week can read from the news, people with monies in hand got scammed. The high statistics of Malaysians got scammed by online scams is part of the "reasons", some are pushing for the locking and just go annuity?

Currently I too think the current system is perfect, like you posted,
"The present system is perfect.

You can leave it in to get better interest rate then  banks and withdraw any time u need money.".
.........just hopefully i don't be another newly added scam statistics and hv to change my thinking and regretted believing that the current system is perfect.

Btw, not all that kena scammed are due to greed.

But after one were above 60yo...

With liquidity like CASA....

Many treats EPF as CASA... That's why when government comes with new policy... Everyone gets angry 😁

But same time... With freedom given... Some just lose their hard earned EPF $$$ to some scam investment offers...

OK.  Can change to Annnuity plan

thanks for sharing, but as you can see from statistics, most won't even hit 1M, let alone 2.5M. what can we do if we're in this category? 

Sometimes is not the kids wanted the parents to help but parents insisted since the money can't take down or up when they go up or down there

Rich parents tend to do that so it is normal

That's the part I worries about....

Increase of new contribution $$$ make EPF harder to perform well above average...

There's this saying.... The bigger the fund size, harder to get best returns....

https://www.thevibes.com/articles/business/...-economists-say

Here comes all the analyst tikam2 about higher EPF dividend rates....

The hype of higher dividend than 2024 have started 😁

Yes, i would withdraw all too this year IF I can foresee there is a WW3, ( with china involved) this year which could impact World equity and bond mkts for many more years.

Withdraw then money put where in a WW3 scenario?? Dilemma lor, ha ha ha

We must first ask the right question to solve this problem

Why some group of people didn't trust EPF with their money and didn't top up voluntarily?

Unker think some creditability and trust was lost during COVID when savers see politicians can easily allowed 4 withdrawals..."Kita Jaga Kita".

You guys talking about 2mil, 5mil or even 10mil for retirement....

But do you guys actually realized majority not even close to those numbers stated..... Wayyy off from it actually....

So what going happen on all that fall into this "hardcore poor" categories....??

No benefits and cannot be stop until you divorce your wife or she passes away
But if she passes away and she nominated a plumber you also cannot fight in court as all her EPF money goes to the plumber

😂

Existing members have options to opt in or not with this new withdrawal timeline...

But personally I think everyone won't accept that

more of such news... who knows... may backfire until epf/gov finally decide... i can imagine some elderly persons between 55 to 70, under influence of their family or friends, will just go and take everything out....

Who is this 'laymen' actually? Definitely those posting here aren't.

It's funny. I would say it's a conspiracy to  push for whatever agenda the policymakers had. Leak a bit of proposed policy and all the so called economic experts will wade in expounding their support. Where is the laymen opinion ?