17 Feb 2013: EPF declares 6.15% dividend for 2012.

16 Feb 2014: EPF declares 6.35% dividend for 2013.

7 Feb 2015: EPF declares 6.75% dividend for 2014.

20 Feb 2016: EPF declares 6.4% dividend for 2015.

18 Feb 2017: EPF declares 5.7% dividend for 2016.

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

16 Feb 2019 EPF declares 6.15% (Conventional) and 5.9% (Shariah) dividend for 2018

do you do extra contribution other than the mandatory contribution rate?

just beware/becareful of the liquidity issue

Don’t bother contributing more than tax relief amount can ady. Otherwise you are just locking up money in an unstable currency for no good reason.

RM4000 this year. Check again.

The RM6k tax relief for EPF contribution / life insurance has been split and separated starting this year.
It is now RM4k for EPF and RM3k for life insurance. So effectively your tax relief for any EPF contribution is only capped at RM4k regardless of how much more you contribute.
This was announced in Budget 2019 since October last year. Source is in the Budget 2019 announcement.

Don’t bother contributing more than tax relief amount can ady. Otherwise you are just locking up money in an unstable currency for no good reason.

Looks like I am correct.
So if you are in the tax bracket of 24%, it will take 4 years at 6% pa returns from EPF just to pay your taxes!   

Indeed, income tax is taxable regardless. That is where the problem lies. I do not mind being taxed for income which I can decide on what to do with.
But an EPF contribution is forced upon and taxed at the same time.

So, I am seeing my income stuck in a fund while paying a tax on it. So if my tax is 24% and EPF pays 6% pa, it will take 4 years to recover the paid taxes.

who says anything about disliking EPF?

i just dislike paying taxes on my income which i have no control over.

Its so easy to make 8% pa in investments. You must be awful at investing to get 4% or lower! Even FD gets you 4% or more. 

Investing in mutual funds is expensive and waste of time.

Just simply buying some REIts will be much more profitable.

not refering to you alone on the disliking, but can read here alot of sayings to that effect.

So easy to make 8% pa??

I had made few years of 9% return, but overall i cant simply tell others "IT IS SO EASY...".
Misleading.
here is one example who is surprised  by what prophet professed.

In general most people dont consistently find it easy to make 8% pa.
if you read the FSM forums many made just FD returns even after years
We have forumners in here who invested in mutual funds and showed IRR 9+% over  >3 years.
Get the right fund sell the right time but that is exception rather than the rules

So is it  really that easy?

Look at some of the MF performance through 5 , 10 years. Hardly impressive.
Some totally died and never recover.    And you are paying this FUN managers for these sort of performances? 

"Strongly-worded response..."

https://www.theedgemarkets.com/article/vari...iered-dividends

(Sharing, not an official announcement.)

But it addresses the lack of data for its projection though, as some members asserted earlier.

I have a colleague who told me there is no way he could have a million saving for his whole life.

I asked him if he has at least 100k in his EPF now? He said yes. I then calculated for him, when he reaches 55, he could have at least 1.1million in EPF. (by using his current salary, without any increment, without any bonus, based on fixed 4% yearly dividen).  P/S i like to calculate things based on the "worst" scenarios. Example, if i think average dividen would be 5%, i would make it 4% when doing calculation.

After i did the calculation and told him he would have a million saving when he reaches 55yo, he didn't believe at first and told me no way, until i showed him the calculation. I think i brought "hope" into his life, lol.

hehe, majority of voters ... have how much in epf?

National insurance scheme by EPF??
2% or 3% is contributed by members for using government health facilities?

https://www.freemalaysiatoday.com/category/...-ahli-parlimen/

P/S: cannot find English version 😔 either me too noob or not yet pick up by those English media

https://www.msn.com/en-my/news/national/epf...ddaf312ee&ei=17

UALA LUMPUR - The Employees' Provident Fund (EPF) is considering making regular or monthly withdrawals mandatory for contributors reaching the retirement age of 55.

EPF CEO Datuk Seri Amir Hamzah Azizan said the regular or monthly withdrawals were currently done voluntarily.

He said it was due to it being seen as providing individuals a better chance at managing their retirement funds.

At the same time, he said the withdrawals also gave the opportunity for the contributors to receive yearly dividends with the remaining savings they had.
“We do provide a choice of withdrawals for all EPF members who reached the age of retirement be it in full or partial.

“However, not many opted for monthly withdrawal and this provides space for us to promote it more,” he told reporters during the 2023 International Social Welfare Conference, today.

However, Amir said more reserach and discussions are needed with the government.

“For the time being our focus is to encourage members to have a savings account with the schemes available,” he said.

Up to March 2023, EPF recorded 116,423 new registrations bringing the total EPF members to 15.8 million.

Of the total 8.45 million were active, representing 50 per cent of the 16.81 million Malaysian labour force.

Thank you everybody for the input. I do read them and ponders on them. So thank you very much. Good inputs and angle to consider.
I believe i list the break down before here.

Food = rm10950 per year @ rm30 per day (two meals as i eat rm6 per brunch and i take breakfast and lunch together and night time i have another meal and consider rm20 max but i estimating higher)
Teansport  = rm30 per week (sometimes rm20 but nowadays i use more). I pump petrol every Sunday so i know this number is very accurate so far so per year rm1560.
Internet = rm94.50/mth = rm4914
Mobile phone = rm30/mth (actually rm20 but i might change) = 360
Cukai pintu = rm900 (8xx) / year
Electricity = rm 150/mth (never hit this figure but i gonna put 200 coz of i spend more time at home electricity will increase so if 200/mth it's gonna be 2,400/yr)
Water bill = rm2.15 (subsidy) or without subsidy rm5.50/ mth. Let's say rm10 per month when i retire la. So rm120/yr
Water filter cartridge replacement 500/yr
Car service rm125 per trip and two times per year = rm250
Car battery or car repair i put 1k/yr
Miscellaneous i put 1k per year
No insurance no debt nothing else. No kid and wife ownself take care. No ailing parents and nothing from others.
Angpao money 1k /yr
No toll in my place. No tax.

Just above it comes to 2,0378.83 per year and i already estimate on the upper end. If i use accrual figure it will be 2.5k per month coz grocery actually wife pay so my food side can reduce a lot more especially for dinner part. That's my breakdown.
Look above. No toll.
Retirement years is one very funny thing coz nobody knows. Lol. I don't think i will live past 60 but then again i might get surprises. 😂

It's actually
Both accounts

70/30 split 🙏
(Account 1/Account 2)

the amount is split 70:30 for every self contribution