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 EPF DIVIDEND, EPF

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Super2047
post Feb 18 2023, 09:24 AM

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Upon reaching age 55, the contributions made to your Account 1 and Account 2 will be consolidated into Account 55. You can withdraw all or part of the savings from this account at any time. Should you choose to continue working after the age of 55, all further contributions you make will be credited in your Akaun Emas, to be withdrawn only upon reaching age 60.

Extracted from Kwsp website. Why contributions from age 55 to age 60 only can be withdrawn after age 60? What's the purpose of locking it?
Super2047
post Mar 6 2023, 02:45 PM

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QUOTE(ikanbilis @ Mar 6 2023, 01:43 PM)
This epf portion can put in Sreits. My Sreits has been giving consistent dividend 5-6% on top of capital appreciation.
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Can share which Sreirt good good there?
Super2047
post Mar 7 2023, 01:10 PM

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user posted image

average savings for those over RM10M in EPF is RM17M!
Super2047
post Mar 7 2023, 01:13 PM

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user posted image

How can it possible that someone has RM2M in EPF at the age of 20-24?
Super2047
post Mar 7 2023, 01:44 PM

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QUOTE(quebix @ Mar 7 2023, 01:27 PM)
if his father put him in the payroll since he is 18 years old, and he is 24 now, maybe his salary is monthly 200K plus.
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maybe is Uncle Lim grandson biggrin.gif
Super2047
post Mar 13 2023, 02:17 PM

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One very important knowledge for everyone to learn is financial management due to the fact that most people will have RM300K-500K in their EPF (if they didn't perform any withdrawal) when they retired. This money will gone in few years if the person is not able to manage it well.
Super2047
post Mar 15 2023, 02:49 PM

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Frankly speaking, the principal of our Epf is something that we shouldn't touch, because we will never know how long we will live. If we have used up our Epf but still living, that is the scariest part. We will become burden to the society.

Besides, the dividend paid to us yearly shouldn't be used up entirely too. We should leave at least 30% dividend for it to compound because the RM1000 that we get today will become RM500 worth of value after 10 years.

This post has been edited by Super2047: Mar 15 2023, 02:52 PM
Super2047
post Mar 22 2023, 05:11 PM

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QUOTE(Wedchar2912 @ Mar 22 2023, 04:01 PM)
well, if this is successful, at least EPF will be earning more div for all of us...
as banks will be giving out more loans and at least in the short term, making more profit from these secured loans at unsecured rates.

too bad the B40 and some M40 will have to suffer in the future for this. Not my problem...  bye.gif to them.
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Their problem could become everyone problem in the future. If majority of the people don't have enough money for survival, there will be more crimes. No one is safe.
Super2047
post Mar 29 2023, 06:18 PM

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QUOTE(Rinth @ Mar 29 2023, 05:57 PM)
didnt mention who are eligibile....if everyone are eligible i also want loan and pump back the 50k into epf lol
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Not sure if the interest rate is a flat rate or reducing rate. If it is fixed rate of 5%, its equivalent to 9% reducing rate. So borrow from kwsp and pump back in will incur a loss in this situation.
Super2047
post Apr 7 2023, 11:20 AM

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So this 4.5% is reducing balance interest rate ?

What is the takaful protection? Need buy insurance? How much if loan 50K?

This post has been edited by Super2047: Apr 7 2023, 11:21 AM
Super2047
post Apr 7 2023, 11:44 AM

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It's reducing rate biggrin.gif

And need to pay back. Not as what previously announced, no need pay back till age 55 ....

This post has been edited by Super2047: Apr 7 2023, 11:47 AM
Super2047
post Apr 7 2023, 12:19 PM

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QUOTE(nexona88 @ Apr 7 2023, 12:05 PM)
Wah...
U went to the a
Bank already?

🙏
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Yes, gaodim d smile.gif
Super2047
post Apr 7 2023, 12:50 PM

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I did the application just now from MBSB website. Super smooth process, everything done within 5 minutes biggrin.gif

MBSB will want us to open a savings account there, and the money will be transferred into the savings account.
Super2047
post Apr 7 2023, 12:54 PM

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QUOTE(nexona88 @ Apr 7 2023, 12:52 PM)
did they mention how long to process & get proved... till $$ bank into account
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They didn't mention. I am pretty impressed with MBSB system, didn't expect their website is that efficient in processing all the details. It's even connecting to EPF system biggrin.gif
Super2047
post Apr 7 2023, 12:54 PM

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QUOTE(GambitFire @ Apr 7 2023, 12:53 PM)
Hi all just to confirm..max loan we can apply for is RM50k is it based on the available balance in epf account 2? Just say I have 30k in my epf now can I still apply for 50k?
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No.
Super2047
post Apr 7 2023, 01:31 PM

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Mbsb = epf Bank 😊
Super2047
post Apr 7 2023, 02:49 PM

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QUOTE(Rinth @ Apr 7 2023, 02:29 PM)
interest payment only...to ease your cash flows...or in another word bank want earn more interest  biggrin.gif
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I don't mind they 'earn' more interest from me. biggrin.gif The longer they don't need me to pay back the capital the better.
Super2047
post Apr 7 2023, 05:10 PM

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How we use this RM50K is very critical. If use it to buy something which depreciate, it's a double kill. It reduces the money that we will have when we retired, and also miss out all the dividends that we might get for these 10 years (assuming MBSB interest = kwsp dividend rate).

But for those that is financially savvy, this serve as a very good opportunity to earn more than what kwsp can pay us, which is a petty 5.x% dividend rate. We can cash out in advance, and deploy this bulk of money when opportunity arises. During this 10 years, you only need to have a super good chance to buy a super good investment, you can earn back multiple times of what you paid to MBSB.
Super2047
post Apr 7 2023, 09:08 PM

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QUOTE(!@#$%^ @ Apr 7 2023, 08:46 PM)
at one point many moons ago, many were finding ways to withdraw from epf for other investments. now all want to put in as much as possible in epf. how times have changed.
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biggrin.gif
Super2047
post Apr 7 2023, 09:19 PM

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QUOTE(Unkerpanjang @ Apr 7 2023, 08:37 PM)
True, Unker not finding fault with forumers. Just be careful, don't go deeper in debts n blow retirement funds.

Unker big mouth, told Auntie  n relatives I can easily beat kwsp returns. She intended to park FD.

Now private bet with Auntie, oledi 2 weeks....so clever, where to invest.

Remember, Unker must beat kwsp....so even Asnb, FD means lose bet.

To put in OCBC dividend 5.35%  with banks financial crisis...Sgp is very susceptible. So is MYR banks these few weeks, months..don't you think a financial crisis approaching?

So now, bite bullet n pray GFC hit faster...bad karma...just to save my waterface.

Unker betting 5% principal on Coinbase. Badly beaten stock.  Maybe, I convince buy a good car is better than kwsp dividend.
user posted image
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When everyone is expecting a financial crisis, this crisis hardly will come. Look at Robert Kiyosaki, he has been talking about the doom since 10 years ago biggrin.gif

Is the doom here already? Anyway, if he keeps talking, one day he will be right, coz a broken clock also twice right in a day.
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