EPF statistics are not 'after working for decades', its a snapshot in time which includes early and mid-career. Why are you comparing it to after-30-years savings? Majority of depositors are <50 years old....

Not sure what the politicization is? Key takeaway is that salaries aren't high enough, or that retirement age is likely too low?

Less than 200k in inflation-adjusted ringgit (assume EPF return cancels out interest). So you're saying earning 2k a month and not touching EPF for next 38 years will have enough to retire?

This. Some people retired di, less busy, want to travel a lot, then better have a more significant amount.

Some people really plan to downsize living, hang out at home, walk around and borak2 at the coffeeshop, can target smaller amount. For a lot of us (esp business owner, but even for salaried) - a lot of your expenses are actually related to the fact you are working. If retired and you enjoy cooking, the dining bill will come way down. Instead of gym membership you'll be taking walks in publc parks. What you spend on convenience will become non-useful.

The way I see it, in 2024 ringgit, if I have 1 million in EPF and returns are 5%, that's roughly 4k+ ringgit per month. Less than I earn now, but (esp once kids have grown up and are independent) I could live quite happily on that without working.

Safety factor of 2/2.5 means 2.5 million would be okay for me (in 2024 ringgit of course, so if planning for 20 years from now better take inflation into account). Nice to have but not crucial

The KWSP stats is for estimated needed savings to survive. Obviously inflation is a factor in that, its directly relevant. And its IDENTICAL to your next post which says 'assuming no interest'.

Or you think that when EPF says 'will reach retirement age with less than 240k' they're talking purely in 2024 ringgit value?

While it IS important for all the above, there is a difference with i-saraan vs nomination, when you nominate, the kid will get the lump sum in cash (not in their EPF account) so it is not locked up till 55 years old. Which is a good thing for kids who have no other means of supporting themselves, and a good thing for kids who are financially prudent. But bad if they're vulnerable to scam and/or the type to spend durian runtuh fast. So have to make decision based on personality as well.

Going rate currently for higher amount loans is +0.8% (3.8%), can check the mortgage thread. Even refinancing being offered that rate.

Big assumption - no withdrawals, and no pauses in employment (e.g. raising children, 'try business' etc). Covid time so many withdraw max whenever got chance, what do you think the Account 2 amount is for those members?

I believe the spouse would have option to receive directly into their EPF account rather than cash out and then redeposit.

Mine 2nd hand knowledge, as my wife said the EPF officer asked her if she meant to keep the amount allocated to her in her EPF account on my late father-in-law's passing. Whether officer was referring to re-contribute or not, no idea as I was not there during that conversation.

Agreed, I also don't want to give false info. But this is what I was told. My wife recently had EPF officer come to their office to promote and they said nominee can receive 'to their account' as well, but no one there definitely asked whether is EPF account or bank account...

No, she chose bank transfer.

When you are still in your earning age, time is worth much more because you have less of it. Private hospital can save significant amount of time.

Retiree what they have most of is time (time to wait and not rush). So there is some sense there.

Any tiering that gives more to those who already have more doesn't make sense at all. Not like EPF earning differently from the funds of those who are above 55yo. If want cash handouts then direct from government, not using EPF to slip some through.

Reduced dividend for higher amount makes sense as a way to push high-amount savings people to invest in riskier assets rather than EPF fund managers settle for them. But all the wealthier people complain this complain that, want to treat EPF as enhanced FD rather than as retirement fund.

Lifestyle creep is real, unless learn to be content with certain living standard, however much a month also not enough.

Everyday feel cramped and no space is also not 'worth it'. Money is meant to be used, not just as a high score.

Closest comparison to what EPF offers is actively managed funds (mutual funds etc). How much fees do you pay for those?

The mentality that there's always ways to sharpen the knife is what leads to short term thinking, pursuing short term gain, and overly risk taking behaviour. Benchmark what EPF does and returns vs other investment options locally (even foreign).

I'm sure some want to retire early (including many in this thread) but I don't understand why. I don't hate my work, I find it rewarding, and it does give me decent flexibility as well as income. Unless I have a specific thing to do in retirement (besides replay computer games many times), why retire? If you're in knowledge work at some point the work isn't that taxing anymore (physical labour then I understand la) anyway.

Though I guess I'm just contributing to the off-topic..... we lari from EPF dividend very far di.

All they've demonstrated is the ability to earn well. Not manage finances well. Earning well in a salaried job doesn't make an individual good at managing finance.

That's not what I said at all. Do you think its fair to stereotype all high income earners as good financial managers like 'Unker' said?


Inability to understand nuance and context isn't a natural disability, a cure is available. Though you'd probably need some base level of competency to seek it. For example, being able to multi-quote.