If govt gone bankcrupt which is unlikely, court will lelong govt's assets to repay us, or govt can reclaim land(current price rm38m/acre & Johor & Singapore with be separated by a stream) and payback creditors with land.

if "touchwood"...both (contributor & nominee) knock out together....
normal will also can not claim the monies?

From what I understand that REIT is a pretty conservative investment right ?

If a conservative investment could still give 8% yield, it really means our EPF is not giving as good yield as what most people think.

So 2.5% is the minimum? Before this how much was the minimum?

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

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

Section 27

Declaration of dividend

27.
At or after the end of the financial year, being the 31st December of each year, the Board shall with the approval of the Minister, declare a rate of dividend in respect of that year, being not less than two and one half per centum per annum and, subject to section 50, dividend shall be payable on contributions to the Fund at such rate:

It meant even those who didn't make the change, EPF can give dividend of min 2.5%. So is not restricted to those who switch.

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.

So is change in name/principles ? Nothing major on the dividends right?

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

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.

I think is to address the concern that epf investment are not Syariah compliance. So some may see the money as "haram" So for those who choose Syariah, I am sure epf investment will be Syariah compliance while those who choose conventional account, need not have Syariah compliance. But both will still achieved the same amount of dividends.

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?

Basically, it reads as a pre-emptive statement. To let contributors know that, if you do not subscribe to the Syariah account, their obligation to you is minimum 2.5%, whereas it is possible that the Syariah account may yield higher dividend. Hence, contributors cannot claim foul when it drops from 6.x% to suddenly 2.5%.

That is another messed up system and another way for them to utilize our money, whereby they want all your money to be in the Syariah account. Or face the consequences of lower yield in the conventional account. They're saying, you non-muslims can enjoy lower yield if you don't want to place them in Syariah compliant account.

Yet another way to utilize the non-muslims contributions, to yield better returns but pay better dividends to the Syariah account contributors. Way to go Malaysia. Another milestone in the f****d up system.

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%

That out of the way, my foremost fear is that they're trying to hang on to our money as long as possible. Remember just earlier this year they try to change withdrawal age? They dropped that after public furore.

Now they know they can't impose age 60 for us malaysians, but for those older than 55 who have been voluntarily putting money into epf ... i know many do because 6.7% is way better than fd's 4% ... now they'll have the money stuck in there till 60! Actually, looks like even if you're still working after 55 the contributions from your salary and employer will also be affected
Back to my biggest fear... if you opt for syariah, is the election reversible? If you opt for syariah, is it possible that you can't withdraw your money at 55 because of some obscure syariah rule?

But they said can only withdraw after 60 if one were to put money in after 55. Am I missing something? Why double standards? Any money deposited before 55 can be withdraw but any money deposited after 55 years old cannot be removed?

What did CPF do?

The other issue now would be from the employer's end,... we are all contributors, and some of us are employers too.

How do we contribute now to the EPF as employers ? How do we contribute to the i-KWSP scheme, if we have employees who opted for the i-KWSP scheme ?

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.

My Finance will have more work identifying which employee is in which scheme. And if the EPF allows scheme conversion for a contributor, then more ongoing work as time goes by.

But let's wait for more ann'ts,...

That is my exact question, to which some have seem to either misunderstood or chooses to say that won't happen. If dividends are going to be equal, then I see no purpose for them to have a separate contributors accounts. Because returns from non-Islamic investments surely cannot be distributed to Muslim contributors. Isn't that the purpose of a Islamic account? If that is so, how can returns be equal? It can only be equal if the total returns from conventional account funds and Islamic funds, are combined and then divided proportionately. But as I've said, non-Islamic returns are considered non-Halal in some businesses. How can this returns be combined with the Halal returns?

This is just my assumption. Imagine if conventional contributors amounts to RM100 mil a year, and Islamic account contributors amounts to RM50 mil a year. If the Islamic accounts sees a higher dividend, then this is a failure in the KWSP investment portfolio. Or even if it was reversed whereby Conventional contributors are RM50 mil vs KWSP-i RM100 mil, and then conventional yields higher dividends. Either way, we would see a disadvantage in one of the account type if the dividend yields are not equal. KWSP should not be operating in such a manner in my personal opinion.

Until further information is revealed by KWSP if the tabling of the new act passes through, I fail to understand how this can be done fairly for all contributors.