I really hope inter-account transfer is allowed or to opt-out, coz I dont need or want the Acct 3 !

monthly have to do the work to transfer #3 to #1

Given the lack of penalty for Account 3 withdrawals and the exact same dividend rate across the board:

1. Members should opt-in to maximize their Account 3 starting balance
2. Members should maintain the 10% contribution into Account 3 moving forward (rather than transfer to Account 1/2 or submit the form to change the allocation %)

Ultimately, you lose nothing and you get some flexibility to draw down into liquidity should a calamity befall you. The only issue will be, for those who do not have financial discipline, I believe they will tap into Account 3 for frivolous spending.

if based on Previous history (post MCO withdrawals). should be another 2 or 3 years later dividend would be lower.... given "token rates" only

just use the self service kiosk.... no need to visit the counters

To be fair employers also contribute to EPF so it's not always about rakyat's hard earned money.

If I am kwsp since introduce account flexible kan bagus just introduce kwsp debit card can use directly from account 3
Debit card can use to pay for goods and withdraw money from ATM but without casa account number

The way Singapore do it is good for idiots. But not good for financially savvy people. I would rather it be like Malaysia. Idiots die, not my problem.

how is the EFP system in singapore?
got account 1, 2 and 3 or just single account?

In bolehland same same saja
Want more work harder to earn money
Epf dividend kinda sucks

What loopholes? EPF allows full withdrawal at 55. Smart person will either keep it in EPF or withdraw dividends to use or withdraw a big portion to invest elsewhere for better returns. Idiots will withdraw all buy Iphones every year.

Singapore meanwhile prevents the smart people from managing their own funds, because it assume by default you all bodoh. So they only give you a monthly payout (after 65? This I am not sure), so that idiots don't go Sai Lang on iphones.

There's no easy ride either way if you don't make your fortune by retirement age. You are still farked if you only have RM240k in EPF by retirement age and that's your only asset.

low return but strong currency, win liao.

what i like cpf best: 20% employer, 16/17% employee = 36% per mth in your retirement fund.

sucks but higher than CPF for sure... except the currency rate which wins hands down