One can reach RM500k without resorting to self contribution and very high salary. It takes long years; compounding effect and I am sure you already know that.

i think a better analogy is at age 30, EPF RM0 vs EPF RM1 mil.

Some u guys mentioned about 65 yo withdrawal...

There's high possibilities to happen...

Since many don't have enough balance in their EPF account...

BUT won't be very soon...
Probably 2024 or 2025 like that 🙏

Budget 2023 window is too short to implement

we all are just talking cock only I am sure...

already gov of the day felt the pressure to allow everyone to withdraw one more time of 30K rm... and that is so damn hard to resist...

we think it is that easy to change retirement age to 65???? gov of the day can try....

lol...

https://www.malaymail.com/news/malaysia/202...-pandemic/56181

KUALA LUMPUR, Feb 22 — Deputy finance minister Datuk Seri Ahmad Maslan today said that the top 20 per cent of earners (T20) in Malaysia are "monopolising” the Employees' Provident Fund (EPF) with their savings making up the bulk of the total amount.

In contrast with other groups, the T20 also saw the savings in their EPF accounts increase by 11 per cent during the Covid-19 pandemic, he noted during the winding-up speech of his ministry at Parliament today.

"The EPF is monopolised by the T20,” he said.

In April 2020 the total number of funds in the EPF accounts belonging to T20 account holders was RM538 billion, which then increased to RM597 billion by December 2022, he said.

A total of 2.6 million EPF members come from the T20 category, he added.

Really weird until now no announcement how much the dividend is

After all this hoo ha....there will be a pause in the market and then its all back to business as usual. Luxury goods will still be bought at a whim.
Life will go on macam biasa.
We will just adapt to work harder, smarter to earn more money.

Edit: deleted as the news link got removed. The lowyat kopitiam thread still there. It says economist worry Chinese have too much money in kwsp.. apparently some say it's fake but there was a news link but it is now removed.

1 month salary 1.8k
11% employee
12% employer
total 23%

1.8k x 23% = 414
414x 24 months = RM9936

so it is quite possible since yet to factor in dividend for the first year

so you are right

but how come gov report that 76% of Bumiputera that contribute to KWSP has saving less than 10k?
maybe gov tipu us with the number?

Write down means investment sold at a loss in the stock market.

who the eff is this economist wannabe? 

"I believe this is one of the best ways to increase the savings of contributors with low savings.

then The Malaysian Employers Federation (MEF) make more noises...
already very butthurt with minimum wages thingy.... want to higher contribution from Employers side....

Look at all the ppl they ask and so on.. you know la.. ask a real financial savvy guy and he will get his head slapped upside down. 😂

yeah...I was cheesed off after reading that offending article

Pardon me if this is common knowledge. I only realised this the other day when I looked at EPF press release on their B40, M40 & T20. Why is the number of members in B40 and M40 the same? I used to think that there is only 1 common set B40, M40 & T20 for our country. Wrong. The reason why B40 and M40 member numbers in EPF are the same is that B40 is 40% of the members from the bottom up and M40 is the next 40% of the EPF population.

Ditto for B40, M40 & T20 in LHDN. And others.

So, we cannot compare/equate B40 in EPF to B40 in LHDN. Different population segment.

Maybe we can compare B40 in EPF with B40 of another retirement fund.

If I am wrong, please give me a shout. Thanks.

P/S Curious, which B40 is higher, EPF or LHDN?  Saw a report stating RM35k to RM100k as LHDN M40.

Chief strategy officer of the Employees Provident Fund (EPF), Nurhisham Hussein has said that individuals who are retiring in 20 to 30 years will need to have savings of at least RM900,000 to RM1 million. The amount is the “bare minimum” required, after factoring in variables such as inflation and medical bills – among others.

Meanwhile, Malaysians who are retiring in the next few years and staying in Kuala Lumpur will need about RM600,000 to have a “dignified” retirement. “When you look at the RM600,000 savings threshold, only about 4% of Malaysians could afford to retire. It’s a little lower outside of the Klang Valley,” Nurhisham further shared, adding that the amount will only cover ordinary outpatient medical needs or visits to general practitioners.

Nurhisham also stated that Alor Setar was found to be the most affordable place in country to lead a comfortable life upon retirement, but even that requires the retiree to have savings of at least RM480,000. This figure is twice the basic threshold for retirement savings of RM240,000.