Who cares what you have? The EPF is a retirement fund. Do you think this is a socialist fund?
Who is abusing EPF? Since the government allows additional 60k per year?
Who are you tell faithful contributors in the last few decades, that their contributions should be paid less.
And the hypocrisy of this is that you are actively investing in a capitalist system! 
Calling for a socialist payout!

hence we all should agree that 1 million in EPF is really nothing at all, if the aim is to have some decent retirement funds... just cos it is way too easy to get to 1 million provided the person is gainfully employed and stayed the course.
btw, people focus too much on how precise the math is (meant readers in general)... focus on what the math is trying to tell us. ie does it matter much to the 3K chap if he has 800K or 1 million at age 60?    at least he has a decent amount of retirement funds in EPF and he should have more elsewhere. 

Which brings to the point: EPF is not here to solve the social issue of poverty in Malaysia. The effort should be focused on how to have as many able people participate in the workforce/global market and be gainfully employed/earning income.

I made quite some money. What I'm saying is I was too focused on making money and not learning about retaining the value of my money. I should have done both.

Now I am older, I stopped starting new businesses and focus on investment but I missed too many opportunities.

For those who understand Chinese language. Speechless.

He knows he will get lots of votes by saying this. on FB, lots of Chinese people claim it is their own money and they want to withdraw their money, sigh. First thing first, without this forced saving system, most of these people's money in EPF had been long gone. Those who understand, will understand.

Not officially announced, KWSP rate will be announced by KWSP itself later.

But from today's announcement, it is implied that lower dividend rate for 2022, because of special RM500 payout to targeted communities.

So for this year, tiered dividend is indirectly happening. Higher dividend(normal dividend+RM500) for individuals less than RM10,000, and normal dividend for everyone else's KWSP

So far Budget got no news on -
1. Increase self contribution to RM100K
2. Extension tax relief of SSPN RM8K to 2023
All goodies in Oct 2022 budget disappeared.

I would like to say something about my stance on safety of EPF and tier dividen.

For EPF safety, i had been hearing rumour that it would be bankrupted or inside EPF already empty, since i was 12yo, 22yo, and 20+ years later, until now. I am a guy growing up in a restaurant, uncle and untie here day day would tell you all kind of secret, they told all these secrets (included EPF was broke) with a mysterious look / sound, and the kind of serious face that "i got this secret from some way, i only tell you this, don't tell other". My parent took out all their saving in EPF when they were 55, and now my father is 80, and EPF is still there.

So, personally, i would continue having faith in EPF and will continue to pump in money as far as i can. (i have other reasons to, but not going to discuss)

As for tier dividen, if they really implement it,
1. Doesn't matter what is the difference % compare to FD, i will remove all the money > 1mil
2. And also will clean the second account by transfer all the money into house loan
3. No more extra self-contribution into EPF

The main reason is, i will feel better this way, and to show them i am really unhappy with tier divide.

What damage control Bajet already failure and failed to inspire and get criticisms from economists, businesses and people 🤦‍♀️

Even if bajet 2023 is failure the way he projected for the next bajet proves that he is already out of ideas with the hiring of many useless so called no paid advisors and he has to get rid of them and instead hiring fresh new advisors who is apolitical and key success leaders from major industries unlike hiring his own daughter instead 🤦‍♀️

The bajet is terrible because it is expansionary budget with more focus in supporting business which lies the loophole for corruption as shown previously through Jana Wibawa 🤦‍♀️

Experts already said that is this bajet is not people centric but more focus on businesses hence you are still daydreaming about funding channeling to people when M40 now being hit hardest with tax cuts while the govt is not fiscally prudent enough to spend less while blowing out the deficit more and more and you are just day dreaming like PMX about deficit reduction with more revenue generated 🤦‍♀️ Remember his bajet is based on the Oil forecasted at USD90 which above the current market price and it can do down easily once the markets is spooked enough this year

I just use the number 4 for fun... cos 4 is the fav number of many people... 2% is just from earlier mention.... 8 is a good number for another many people rite?

Rm260k is T20 average? Thought it is higher than this.

There are many independent financial advisors just that whether you wanna pay one off fee only 🤦‍♀️

To me most financial advisors are not up to par and they are always chasing for commissions selling products

Also the disclosure in Malaysia is so bad and transparent itself unlike other countries

How can it possible that someone has RM2M in EPF at the age of 20-24?

There is a logical reason why gov don't want this info known publicly and officially... because knowing it will also means rating agencies will use that number and lump it in together with the debt of the country. Pencen cashflow, including future payment, is a legal obligation...

Malaysia gov currently engaged like 1 million employees? imagine all of them gets cashflow of min 36K per year... that's 36 billion ringgit per annum obligation already.

(I'm sure this info is already reported.... just lazy to search it for now)