hmmm....anyone know how to calculate the dividend amount? Just multiply 0.0615 with the amount??  any admin fee deduction?? When I calculated the amount credited...it's only 5.8%  Why??

Yes, please ensure more people to take the money out, be it withdraw it for housing or others legal ways

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.

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.

Hansel, from what I read, if you do not topup, you can withdraw anytime. If you topup at the age of 55 or more, you can only withdraw at 60. So the choice is yours. Topup and give away your rights to withdraw or don't topup and have the flexibility to withdraw anytime.

Anyway, it haven't been pass yet. Still being debated. For now, the old rules still apply.

Every month there is list of employee submitted together with the remittance, so if the ABC person account is KWSP-i, it will be credited into the ABC account automatically by EPF system. Just my logic thinking, as I see no issue from employer front.

When law is silent on particular issue, then it just means no restriction.

As far as the wording published, only contribution after 55 is "locked". It doesn't mention contribution before 55, so it won't be "locked".

No, you finance or HR won't need to do more work, apart from one time/first time for those wish to do the conversion.

It will/should be the same as old day afterwards. 

No I cannot. I am only using banking sector products as a comparison. But at the same time, it is also not proven that it won't be so. I suppose we can only wait till it becomes a reality to see the end results. I do hope I am wrong in my perception because I prefer to see our funds being invested properly to yield proper returns, where the main objective is to ease many contributors future retirement plans.

I do not wish to see, Account A earning less than Account B or vice versa. Our retirement funds should not be used for that purpose. As it is, part of contributors account can be used to invest in certain unit trust. That is for the contributor to decide. The risk is theirs to make.

But if I am contributing RM500 a month in a conventional KWSP account, and another is also contributing RM500 a month in a Syariah Compliant (SC) account, it perplexes me if either one is given a higher dividend yield than another, doesn't matter which one is higher. However much KWSP chooses to invest based on their available funds and choices of portfolios of investments, the returns should be distributed equally and proportionately to the available balance of contributor. It should be looked at as a total return.

I understand that to some, people see KWSP as an investment model for them, because of the track record in recent years. But it has and should always be the objective of KWSP, to ensure the money they make, are fairly disbursed to contributors when they announce dividends. It would be alright if they collectively take contributions in conventional © account and syariah account, invest soundly, and the total returns are announced as dividends every year proportionately. It should not matter which account makes more.

However, Syariah Compliant accounts can only be invested in Halal (is that the correct term?) businesses only. Does that mean if the funds in C accounts in KWSP generates higher yield than the SC investments, those in SC will yield lesser dividends because they cannot accept profits that were made from investments made through non-Halal businesses?

Having said the above, if indeed dividends are equal regardless of accounts, then the above I shall retract and apologize for my wrong assumptions.

RM422 million in unclaimed EPF funds, withdrawal remains at 55
http://www.nst.com.my/news/2015/10/rm422-m...awal-remains-55

I can sense your fear of money being "locked" after reaching 55yo by looking on your repetitive posting on the same issue past few days

I have an uncle who's in 75 now and has worked since the 1970s. He had not withdraw a single dime from his EPF.  His plan is to continue to accumulate as much dividends as possible (since it is higher than FD) until EPF forces him to distributed his money.  He treating the EPF as long term investments with very little risk. At one year, I think he said he got a notice saying that EPF disallows any member who is not contributing to continue to let their money sit in the account, then the following year, he got another notice, he can continue let his money in there till 80.  He has named his nominees since then (of course in preparation just in case, he passes suddenly). So, he got about 5 more years to let his money to continue to grow.
Therefore, I don't think they would restrict anyone to withdraw after 55 (which is the qualify retirement age), if they really do retire and not working anymore.

It does not make sense say for example, if one decides to work and contribute until 57  - two more years into past their qualified 55 retirement age, then starting at 57.5, they wanted to retire and starting to withdraw, EPF ruling would prohibit them just because they are under 60 (since they're not contributing anymore).

I believe if anyone do want to continue to work beyond 55, while the individual is still WORKING beyond 55, both the employee & employer are continuing to contribute into EPF, concurrent withdrawal is perhaps PROHIBITED at that time. Now, this would make more sense. 

I think we all know that. Anyway Hansel you can always use your overseas fund to support your life should epf implement this. Is not a big issue for you. It might be an issue for those that  haven't diversify outside malaysia and into other instruments.

Bro, max you can topup in a year is rm60k

Hansel,

I think you're like me right now. I contribute to my own EPF fund using my own fund, maxing out to the limit (60k/year).  I don't intend to withdraw either even till past 55 unless my financial situation changes or I decided to retire early (before 60) or there are some major change in the EPF ruling. My intention of EPF is to use it for our (spouse and myself) future retirement or spending only in Malaysia - which are years down the road. I can't find any risk-free FD-like fund that can beat EPF at the moment, so putting money in EPF is ok with me.

Furthermore, with the low ringgit value this year, I got 15%-20% discount after converting to Ringgit to fund the account.