If you're thinking that you can get the same or better return than EPF via whatever investment vehicle you personally are using, you should bear in mind that returns are only one side of the coin. The other is risk.

EPF is effectively risk-free, meaning you will never lose what you invested. There aren't very many products out there that can match EPF's return and risk profile. If got, usually there are restrictions like ASB.

Just be aware whether you are ok with increased risk of losing capital for higher returns if you do choose invest some of your contribution to EPF.