and this watchdog reports to who?

I don't get it,... like I said, if more people withdraw out upon retirement age, then we, the contributors will get less dividend. So, why encourage more people to withdraw ?

EPF to pay 2.5% dividend under amended EPF Act

http://www.thestar.com.my/News/Nation/2015...vidend-EPF-Act/

iinm, there was none. they always declare based on performance.

this amendment will introduce 2nd dividend rate, not replace existing one.

It's all about Syariah.  If you choose not to be under this scheme, then you do not partake in the performance of the Fund. Then their obligation is only 2.5% as far as they are concerned.

Meaning everyone irrespective of race and religion is FORCED to accept Islamic principles. 

This is Malaysian fair and equitable principles.

Here....says it all....read carefully
.

The Bill also states that the EPF may have the power to declare a dividend of not less than 2.5% per annum for those whose elections have not taken effect.

The sentence was more due to shariah principle, or islamic banking principal, they cannot have fixed "interest", but based on profit sharing principal.

Just like conventional FD vs islamic deposit.

They can't put minimum fixed return/interest in islamic product.

Correct me if I am wrong.

If implemented an EPF account holder need to choose to stay in conventional account or change to the new KWSP-i. These 2 accounts would have 2 diff dividend rate of at least 2.5%. Correct?

http://www.themalaysianinsider.com/malaysi...ccount-says-epf

Since in the EPF Act, they already have the power why is it new?
The report does not say that those who elect NOT follow the Syariah principles would get their dividends according to the performance of the fund. Or is that taken as it is?

Are there going to be two funds?

just robbing our money to fund I business/product. this is DAY-LIGHT ROBBERY, the bait is only 2.5% dividen if u opt NOT to  

next year, those opt in syariah gets 7.8% while conventional gets 2.8%

are you cashing out max?

Why do people hate EPF so much when they have been giving high dividend for so long.

Anyway I am going to ask a valid question, do you think conventional or syariah portfolio will give more dividends?

The amendment doesn't state you can't withdraw after 55, even one opt to KWSP-i, so don't need pre-judge on anything that is not occuring.

If EPF intend to hang on the money, they can impose higher age withdrawal, or emulate what is done by CPF.

"Apart from that, the Bill also seeks to introduce a new section to provide that any contribution that has been credited into the account of a member after he or she has attained the age of 55 may only be withdrawn when the member turns 60."

You read wrongly and misinterpreted my posting wrongly,... I said if you have any sen left inside the account when you touch 55yo, it will be locked inside ill you are 60yo. In other words, if you apply to withdraw any amount by 55yo, you can OF COURSE WITHDRAW when you touch 55yo. You may still have 'leftover' inside the account after this 55yo withdrawal.

As for withdrawing any amount 'leftover' beyond 55yo, they are silent on this.

As for adding money into EPF after 55yo, you are not allowed to withdraw till you are 60yo.

Please read the grammar carefully,... and carry with you a tinge of legal conceptions with it.

i suggest that as with ASB and others, in Malaysia the only way this is going to work is to differentiate the two funds completely.

i have another question: Is it halal for Muslims to be handling non Syariah products?