For those with no idea where to invest for 5% or above interest, then EPF is a great choice for retirement savings.
Instead of spending the extra money and making others rich, why not consider to make self contribution into EPF to make your future self richer?

Why the rush to withdraw your EPF funds?
IMHO, 55 years old is a good age to withdraw the full amount from EPF. You should only start living off your EPF savings AFTER 55, not before.

Your fund is guaranteed in EPF, how can it go bankrupt? Even the minimum dividend of 2.5% is guaranteed.

Capital and minimum returns are guaranteed in EPF's case, can you recommend me another better option than EPF.

If only you are Bumiputera (which is kinda discriminating towards the non-Bumis though).
Anyways if you are Bumi then you have many other sources of Government guaranteed investments, unlike non-Bumis.

Usually 2 months after the financial period end they have to declare their financial report (and together with the dividend rate).
So financial year end of 31 December will mean they should report their financial report within this month.

Go to any Aeon Mall with the Aeon Credit Center and your wife can get the activation code there. Most of the time no need to queue to use the EPF kiosk. Can print out over there as well.

That's the difference. But don't feel down as your boss earns 10x more than you, but his EPF only double your amount.
He should be ashamed of himself, and it would be glad knowing that not many people can even save 50k in EPF at your age.
Be grateful for what you have at this age. You have a great future.

Well, usually bosses do have salaries of above RM8k, which is no surprise at all. No other ways for them to pay themselves.
Plus the annual bonuses they pay themselves in one lump sum, I wouldn't be surprised if he has RM200k in his EPF.

Haven't tried, but I don't think it would jeopardise our security that much though.
Afterall, there's nothing one can do with the i-Akaun portal without our signature.
So at least we can still sleep through knowing that our account is still safe.

EPF will definitely continue to exist as long as the monies are still in the fund. Less contributors does not mean that they are taking out the money. The contributions rate still outweigh withdrawals rate. Even if it reverses, EPF still has enough money in its coffers to exist until we are no longer in this world.

I don't think it is possible. Total AUM still will keep growing annually despite at a slower rate. As long as the fund size keep growing, we will still see similar % of distributions. Distribution % will only increase drastically if there higher rate of withdrawals. From what Tunku mentioned, I don't think that is the current situation. It just meant that the 8% have stopped contributing leading to a lower rate of AUM growth.

For my longer term simulation I prefer to use around 5.5% as we do not know what will happen over the next 10 years. So what we don't know, we should always anticipate lower. Anything more will be bonus.
As EPF fund grows larger and larger, 7% will be harder to come by. It isn't easy to achieve a consistently high return rate for a big fund which is required to pay annual dividend. They are just too big to gamble with our money.

Well, at least it is not happening right now. So we can still sleep without worry. There *might* come to that point, but we are not at the equilibrium yet, even when it reaches equilibrium, it will take a good several decades to exhaust the money in EPF. So rest assured we will not see it in our lifetime

I read this too yesterday with disbelieve in my eyes and felt disheartened. Why oh why do Malaysians need to spend SOOO much just to satisfy their wants?
RM2,490 should have been more than enough to sustain a very comfortable life, I don't see a need for Malaysians to overspend up to RM2,695?? What do they use the additional RM205 for?
They spend so much, and then they complain salary insufficient to sustain, and blame everyone else but themselves for not saving.

I have just completed a small survey within a small community group, food is not the major cost in one's budget. It is actually the rent and car loan repayment. Many that responded kept food below RM1,200 threshold, but car repayments can take another 1k or more away from the budget. Rental can take up between 600-1k for a room. Actually spending anything between RM900 - RM1.5k on food is already comfortable enough, depending on one's location.

As an avoidance of doubt, I define comfortable as in not having to just constraint one's self in eating instant noodle. You can afford to choose to eat out at a food court that cost around RM12 - RM15 per meal, with the occasional sushi or Kenny Rogers fix. It doesn't necessarily have to be a full 30 day KFC or Nando diet. RM15 x 2 meals x 30 days = RM900. Any extras you can splurge on whatever restaurant that you wish.

So it does depend on how one views as a comfortable life. For you it could be Nando's everyday, but for me it could mean the ability to go eat economy rice or 'dai chow' everyday.

I am living in KV too ya, more specifically I work in Klang and I stay in Setia Alam
My total expenses for food in March 2019 was RM 780.25 out of my monthly budget of RM 1,800. I eat out almost everyday for lunch and dinner, and that amount is for 2 people.
I reckon if I were to eat alone for the whole month, the expenses for food won't go over RM400.
So food expenses is not an issue for me anywhere I live. Throw me in the heart of KL and I can still survive with say, RM 900 for my own? That is a lot of food in KL that you can eat below RM15 per meal.

Comfortable live could also be defined by the type of car one drives, the type of house one stays in, and also having a higher discretionary expenses for shopping. We can't just restrain the definition mostly to daily food expense. I believe that a weekend out on good food won't affect the budget by that much. Well, I am merely stating the results I gathered from my small survey, and the result is quite obvious that most people try their best to keep food under RM 1,200 per month. It simply also means that a bigger portion of the salary is spent on the other categories.

What jam? I do not feel it
Use la highway, why use LRT3 way? Hehehe.

"SA food pretty expensive compared to BBT area."
You stay at BBT area? So you should not complain about the food expenses lol. I can still get chap fan below RM13 for 2 people for my dinner in SA. So I confirm you can go for that too in BBT.
There are so many food stalls in BBT ma, char kuey teow for RM6 per plate is still widely available. Or daichow for RM6 per person also have.
I do not see the reason for you to spend more than RM15 per meal for 2, unless you are bringing a family of 4 to eat la

Have been living in Klang for the most part of my life, so I know it will never cost that much living in Klang.

Going down to Klang in the morning no jam because most people go towards KL direction. Going into Klang in the evening is jammed especially between Bukit Lanjan and Setia Alam. After Setia Alam exit less jam also.
You lagi geng than me la, stay BBT work KL. I cannot afford to do that lol.

I eat many food here below the range of RM10 per pax here in SA wor. Are you sure they are high? Haha.
I can eat charsiew and siu yok here for RM9 per pax. Even then also you don't need to spend over RM1,200 on food gua

Unless you are talking about 'masat masat' in BBT then of course your living expenses is going to be high la, I know there a lot

I don't understand what you mean. From my side I can view every single detail. It shows me the consolidated summary for my Account 1 and Account 2 in a simple view, and then it shows the breakdown of contribution by month just as before. Every information is clearly stated in the new layout so I don't understand what is the fuss on the new layout is all about.

Take a look at the image attached to my previous reply.

1. Jumlah (cumulative total) for both Account 1/2 and also Jumlah for total contribution are stated.

2. Take a look at my monthly caruman, the exact dates for each contribution are also clearly shown.

Edit:
I added another photo here with the highlights just in case you missed the previous photo.



This post has been edited by Jordy: Apr 21 2019, 04:58 PM

But why do you need that rolling total anyways? You have the opening balance, total contributions and grand balance under Ringkasan Akaun.
That should be enough to serve its purpose. But if you want it for the purpose of calculating your dividend, then you will have to do your own spreadsheet for that.
Even with the previous version, I don't think you can just export the data out into .csv or some other spreadsheet readable format. You would still have to create your own spreadsheet.