Hi guys now that I have decided to do self contribution for my retirement, I am wondering about the dividend you will receive when you do your full withdrawal after your 55th birthday. I called up epf also get funny answers.

Eg, we know the dividend rate declared in 2020 is for the year of 2019. So what happens if you withdraw all in September 2020?

Long answer short, they will pay you based on the amount you have daily from 1st Jan to September 2020 based on the 2020 year declaration. ie if 2021 they declare more, you lose out. If they declare less you earn more.

May I know if the above explanation correct? Thanks

You guys have any idea when we will see updated statements? It seems all contributions not reflected because they are calculating dividend now.

Can I check with bros here?

I placed last week some amounts for self contribution. Up till now still not yet reflected in my EPF online. Is it after dividend declaration then they will publish?

Not sure if the interest rate will start from the day the money is in or until they publish.

Wow thanks. I just checked, I actually deposited 9th Feb. Damn lugi...

Why would EPF wants to implement tiered dividend if the total dividend to pay out remains the same? If implemented sure a lot will take the money out, especially those with above RM1m. Also EPF staff will be busier answering questions on the tiered dividend, potential error etc.

Currently EPF doesn't break down in their detailed statement on the dividends, unless they revamp their IT system to enable it, tiered dividend structure definitely would raise a lot of disputes on correct calculations.

Malaysia banks typically give better interest rates for larger amounts, it will be interesting if EPF decides to go otherwise.

Sorry guys, a few questions.

1. Can I add in self contribution now in Jan 2024?
2. Renewed 100k self contribution quota right?
3. Self contribute around after 22nd Jan 2024 to get the full month interest rate from 1st Feb 2024 onwards right?
4. i-Sarraan still around? Contribute rm2k can get max govt rebate?

Thank you.

Can I check for self contribution, what's the ratio? Will money go into Account 3 from self contribution?

This post has been edited by joeblow: May 2 2024, 10:41 AM

Thanks for the answer. Hope they can make withdrawal via the apps instead of making us go to the branch to do withdrawal for the first time.

This post has been edited by joeblow: May 2 2024, 01:08 PM

I still don't know what's the latest proposed change to EPF. Seems not mandatory?

1. So after the change only after you have above rm1.3m (or whatever revisions every 3 years), then you can withdraw the extra money?
2. Can we still withdraw ALL money after we reach 55 years old? Or the new age changed to 60 years old?

If change to 60 years old, I might reconsider pumping self contribution in future...

Can I check if anyone here has reached 55 years old and withdraw all their EPF? If so I appreciate if you know:

1. Suppose you withdraw all in 31st July 2025 after reaching 55 years old, what will happen to the dividend from 1st Jan to 31st July 2025? EPF will pay based on year 2024 rate declared first quarter of 2025 or they will make another dividend payment in 2026 after dividend rate declared for year 2025? I get conflicting answers from EPF customer service on this.

2. If the payout for i-Saraan is in Oct 2025, you withdrew all in July 2025, will you still get the govt contribution payment for i-Saraan and how it gets paid to you? I was told the payment will be credited to Akaun Emas where you can only get when you reach 60 years old. I suspect he doesn't understand my question as maybe this scenario only applicable if you have not closed your EPF account to withdraw all.

Just to close the loop, I got an official reply from EPF after they escalated to their relevant department. Please note rules may change when it's your time to withdraw.

If you do a full withdrawal for the year eg 2026 after the dividend declared for 2025 in 2026 (ie first quarter of 2026), then they will prorate and pay you the 1st Jan 2026 balance to your withdrawal date based on that dividend rate declared for 2025.

However if you do a full withdrawal before the dividend declared, say maybe in Jan to Mar, then they will pay you 2.5% first. Then after that once dividend declared they will pay you the rest. ie 2 payments in one year. There will not be 2 payments over two years.

For me if rules doesn't change (some rumours about extending the 55 years old withdrawal date or follow Singapore allow partial withdrawal etc), I plan to withdraw all after my 55 years old birthday and after i-saraan for the year payout, ie Sep to Nov. Some confusion over future dividend or other bonus payout going to Akaun eMas, meaning you can only take those small amounts out when you reach 60 years old.