Possible for individual through reduction of consuming highly inflated goods, and buying great discounted goods in bulk.

Finding alternative is not easy too.

I will keep the money in EPF unless it drops below FD rate subsequently in a 3 years row.

For those who are knowledgeable in investing, and willing to take risk, of cause, they have more options. For many ordinary people, especially, average retirees, know nothing about investment, many options are not for them.

I have seen many retirees moving all their money from EPF to FD, just because of no trust on government. But, the fact is, all these years, these average retirees are losing their income 1 to 2%. Assuming if they have RM200K, we are talking about RM2 to 4k every year. RM4K is a lot to an average retiree.

This post has been edited by kpfun: Jan 14 2016, 01:07 PM

http://www.themalaysianinsider.com/malaysi...obacco-firm-bat

Good sign or bad, EPF tends to get rid of evil stocks!

Every single cent invested into Uint Trust is diluted by salesman commission, agent fee, management fee, company tax, marketing fee and etc.

It is a good habit - the money uses for non essential luxury expenses should come from the dividend from the previous accumulated earned dividends!

EPF is proposing to amend the act to allow the maximum age up to 100 years old. So far, since the news, no news of the amendment progress.


http://english.astroawani.com/malaysia-new...dividends-58470

http://www.kwsp.gov.my/portal/en/news-list...DetailPage=true

It is still better than depositing by cheque, which may take more than a week, in one of my experience. Furthermore, I deposited the cheque in one of the EPF branches. Otherwise, I do not know how long it could take by posting.

Last year, I did few online transactions. The credit happened within 2 days only, previously, usually 3 working days.

Of cause, do not do it during the weekend or Friday.

This post has been edited by kpfun: Jun 24 2016, 10:47 AM

EPF and ASNB are the best option for people who refuse risky investment.

You may need to take note on this message:

***
Section 51A
Transfer to the Registrar of Unclaimed Money
51A.
(1) Notwithstanding section 51, the Board may transfer all sums of money standing to the credit of a member of the Fund to the Registrar of Unclaimed Money when such member has attained the age of eighty years
***

It is counting by year, not period. I did before, 120K split over Dec and Jan. Both, dividends were released correctly.

See below the announcement by EPF. But, I do not have the latest update of whether the amendment has been made or not.

There is no say in EPF about the age limitation of self contribution. Therefore, the current act allows the contribution goes up to 75.

The earlier message that I pasted from EPF, which saying EPF has the right to transfer our balance to the Registrar of Unclaimed Monies for members who reach 80.

I am not sure, does the above message indicated that the amendment has already been made to 80, but not as proposed 100 in the original.

I may want to check with EPF because I plan to live until at least 90. hahaha... have a good day.



***********************************

Clarification On EPF Dividend Payments From Age 75 To 100 Years


The Employees Provident Fund (EPF) wishes to clarify on the EPF Enhancement Initiative 3 pertaining to the extension of dividend payments from the current age of 75 to 100 years old as announced on Monday. This initiative only applies to members who voluntarily decide to keep their savings with the EPF post full withdrawal age.

Members who wish to maintain their savings in the EPF will continue to receive dividends up to the age of 100 years old and may withdraw them at any point in time. Subsequent to 100 years old, any unclaimed savings will be transferred to Registrar of Unclaimed Monies.


We emphasise that this proposal is not linked to the options to align the full withdrawal age with the minimum retirement age of 60 years, of which the first option is to extend the full withdrawal age from 55 to 60 years on a staggered basis over 15 years. The second option maintains the age 55 withdrawal for existing savings and introduces a new age 60 withdrawal for contributions of those working past the age of 55.


Issued by
Corporate Affairs Department
Employees Provident Fund

************************************

Date: 22 April 2015

This post has been edited by kpfun: Jun 25 2016, 10:39 AM

I think, workload is just an excuse. They can limit the transfer, or apply service charges for subsequent changes.

Investing capital fluctuation is a challenge for any fund houses. It makes their investing strategy difficult.

In my opinion, member should be allowed, partially split among the two, and at least one transfer entitlement within 5
years.

We are allowed to use some for investment outside EPF. Why not allow us to use the entitlement for this Islamic EPF.

This post has been edited by kpfun: Aug 10 2016, 10:00 AM

Computer can do it within a second for each member.

The real challenge is, let say, EPF declares 6% for 2017, and Islamic EPF declares 3%. Those transferred fund, particularly from non Muslims, will move back to EPF, over the night. The huge unscheduled withdrawal from Islamic EPF to EPF, will screw up the invested instruments in the Islamic EPF. Some are used in the long term investments, which are not easy to withdraw.

Unit Trust can do that, because the price is fully responsible by the subscribers. Whereas, pension fund has different agenda in the commitment.

This post has been edited by kpfun: Aug 10 2016, 03:13 PM

subjective!

Yes - you are perfectly right, if everything work under 100% transparency.

Do you believe, if I tell you, many allocated fund from the government to the religious bodies, were not used appropriately. If not, talk to the suppliers or contactors who had provided services to them.

In a real world, the title and the action, are separated in practice.

I am very doubt about Tabung Haji of their ability of issuing 5+3 in 2015 dividend.

This post has been edited by kpfun: Sep 7 2016, 08:25 AM

Do you really think this is nothing to do with all of us? Is it a matter of the depositors only?

How do you ensure your paying tax money was not part of contribution for this 5+3 dividend?

Look at 1MDB, how money flowed from one place to another, and spending in Casino and Night Clubs.

Yes - I do not have evidence, but, with all these missed management, my doubt is very reasonable.

Unless, we don't believe WSJ and US prosecutors. Perhaps, the only trustable news, should from Utusan or Berita Harian.

This post has been edited by kpfun: Sep 7 2016, 11:42 AM

Unfortunately, none for the moment, the political power is too strong.


About your care of checking tabung haji's website every other week if the annual report is out.

1MDB fired E&Y and KPMG, is your answer.

EPF should retain at least 50% of the sum for gradually withdrawal during retirement.

I have seen many folks who are pittyful begging for monthly allowance from their children, after spending all their EPF saving, either for self use, or family purpose.

This post has been edited by kpfun: Oct 1 2016, 10:36 AM

Frequent visitors to this thread generally are like you. But, I strongly believe that we are not the majority.

By visiting the threads like "AKPK, Debt Issues", and "CCRIS, CTOS, Blacklisted by Ban", we can know that how poor these people in money management.

Basically, their minds has nothing other than thinking of where they can borrow money!

This post has been edited by kpfun: Oct 2 2016, 09:58 AM

Yah - better keep in EPF.

Get a financial planner is not a game for average retirees. Those real qualified planners only work for big fish, because many can't effort to hire them.

What will be getting usually are rookies.

Indeed, damn risk to listen to these rookies, who only allow to sell the unit trusts that their bosses are pushing.

This post has been edited by kpfun: Nov 22 2016, 09:26 AM