So... Berkshire sitting on piles of cash obviously could have given out a lot more as dividend... so you ok with that but not ok with EPF ?

no. both are run like businesses... while the business mandates are different, the concept of having "back up cash" is the same... the issue of how much to retain vs distribute is an age old question

the source of funds, private company or statutory body are irrelevant for now...

Understand from assi blogger that cpf have this OA fund @ SA fund that for them to roll the money tat capped at sgpd40k, I think to enjoy fix % return all the yrs.

I think the reason why CPF keep withholding monies from member is becuz govt don't want to feed those ppl who retire and then quickly spend finish their CPF monies hungry ask govt give rice eat. But this is not true as now ppl are more financial savvy we know how to save and be prudent even if we withdraw all out. A more tailored made strategy would be better. E.g if a CPF member has statements showing how he is managing his investment wisely what are the odds he spend finish all upon retiring? By using a blanket policy, govt get hold of ALL the ppl monies to invest, earn profits distribute the measly returns back to members. This is beneficial from govt point of view not members point of view.

Remember CPF is OUR monies NOT govt monies. Govt is just a caretaker that BORROW our monies invest earn monies give some interest back.

Please read again did i say CPF withhold ALL the monies? I say meet minimum sum first then the rest can take out. That minimum sum cannot take out which is withheld. And if one die early how? Those monies give spouse and next-of-kin? Why? Ownself haven't even enjoy fruits of your labor give other ppl shiok ? They pray for you to die faster take your monies. So CPF scheme is flawed in a way.

Read a few news in Spore elderly die no contact family members many years. But once news reported his death, his family members appear in news a few days later? Why? Becuz got free monies to take from the deceased CPF. So is this CPF good ?

Singapore CPF system among the most convoluted retirement system. I think 99% of Singaporeans also don't know how much they can finally withdraw from the system. It's an artificial system created by the government and I think they even confuses themselves. That's the tragedy they want to withhold the dividend from straightforward giving to their members and devices scheme or special account, ordinary account, retirement account, medical account, minus basic this or minus basic that, clause properties etc etc....

Think of it this way, in Malaysia, if majority having 100K in their account by 55 judging by their standard of income and earning potential, assuming majority, then at 55, they can get all 100K (being optimistic here) out from the system.

In Singapore, majority hawkers, uncles, aunties, low wage, I believe also about 100K SGD (assuming these are the B40s of SG saving)....for these, they never see the light of day of their CPF money withdrawn, from the complex system introduce by the SG gov, probably if lucky may get 5K or so withdraw....the rest stuck in CPF whatever account, and monthly the gov dish out to them some income.

Does Singapore CPF do this? Do they take money out of the gov coffer or dip into CPF money to do disaster management??

Grey area....

Wrong. CPF monies are pooled together (in the form of SSGS) with SG government budget surplus and invested worldwide via GIC.

https://www.temasek.com.sg/en/about-us/faqs...asek-manage-cpf

https://www.gic.com.sg/who-we-are/faqs/

Some don't want change address due to voting
For me I kept my old address as I like to travel back to Kelantan to vote

By right for T20 pretenders every single penny count, but those genuine one consider spare change since they most likely won't notice it right?

so it means our local market sucks. that it cannot survive without gomen help and can't be competitive against other countries.

If I have 1mil, I will withdraw once they announce the 1.3mil limit, before they implement it.

I think most 1mil > 1.3 mil ppl will do that.

My friend recently exceeded 1mil with additional lump sum voluntary contributions....he is mid 40's. Which comes from his liquid funds which are not necessarily for his retirement. Afterall, he is just in mid 40's.

Now it would seem he was cheated and enticed by the EPF scheme, because now the funds will never see the light of day.

Perhaps he should just withdraw everything before the execution of the new limits.

Is he the only one facing this thought?

Whether 1M or 1.3 M actually is not an issue at all.

1. There is ac3 and ac2 for withdrawal purpose which already accounted for 25% of the total EPF.
2. If the person already has 1M, means 250K is withdrawal. Siizeable enough already.
3. EPF is not a bank saving ac, which shouldn't been treated like can be withdrawn simply or likely.
4. A person with 1M EPF likely has other asset, liquid asset can rely upon if not reaching retirement, so likelyhood doesn't need to withdawal flexibility more than 25%.
5. A person with 1M EPF, most likely approacing mid 40 or later age, whereby retirement age that able to withdraw whole lum sum anytime is not far away, while 25% actually withdrawal at anytime as stated 1).

Based on number and purpose of EPF, the anxiety of unable to withdrawal whether above 1M or 1.3M is unwarranted.

Yes, that is why despite the changes, I will continue to dump money into EPF.

The only changes that would have me to clear the EPF money is if they dare to implement tier dividend, this kind of changes will trigger me to clear as much money i have in EPF as possible.

https://www.kwsp.gov.my/en/member/kwsp-i-akaun/secure

New way to approve your transaction on EPF

Same like banks...

EPF now got i-akaun secure approval with just 1 Tap on your device 😁

WEF 6 Jan 2025

Any tiering that gives more to those who already have more doesn't make sense at all. Not like EPF earning differently from the funds of those who are above 55yo. If want cash handouts then direct from government, not using EPF to slip some through.

Reduced dividend for higher amount makes sense as a way to push high-amount savings people to invest in riskier assets rather than EPF fund managers settle for them. But all the wealthier people complain this complain that, want to treat EPF as enhanced FD rather than as retirement fund.

Nope, CPF is not international standard. Both MY and SG's provident fund operates differently from international standards, if you look at Mercer's top funds.

EPF is about ensuring a good retirement for the individual. So it is about getting a sustainable high return to make sure they get to the goal ASAP.

That’s why they should not allow withdrawals like how Malaysia allows. It should just be a monthly pension upon hitting retirement.

It's not good to trust the individual to have a lump sum and be careful with it upon 55.

EPFs vision and mission is to ensure a good retirement. That's it.

All this harmonising stuff is not the job of a provident fund, it's the job of the government and society.

Would you agree to give up your EPF upon reaching RM1mil and give it to those under 10k to promote harmonious society?