Been doing for the past 5 years for me and 3 other family members. Max out each time in January every year.The 3 family members are about 55.

I just started last year. Only knew about this last year, but I wished that I discovered it earlier.

Yep..on 2nd January

Check your Withdrawal Eligibility section.
You can see the current total with any cuntributions made in 2020.

Company does that..
Up to 19% 💪

Employee just 11% only..
U want can do additional contribution your own..
Till 60k per year...

Is this meant self contribution can reach rm60k?
Or total contribution from both side reach rm60k?

actually my question was a 2 parter, if 1 is true what do we do and you had given suggestions. Am actually deciding if I should take and settle part of house loan since i believe the return will be slightly higher than fd rates in the coming months.

Next year EPF dividend for 2020 will still be higher than house loan min EIR of 3.95%?

I'm kind of skeptical.

I would be very surprised if the dividend can  be higher than the minimum target of 2.50%. And also this they will have to pay out from the substance.

I'd be surprise if its more than bank FD rate.

Just find the word "benefit" weird, when reading the statement.
Not meant to "shoot" or whatever. 

Just post just in case people too focus on tax saving side of perspective, and forgetting about the PRS risk compared to EPF.
PRS is never the same with EPF. They are in different league and different risk exposure.

Cheers. 

You have the opportunity to withdrawal up to RM 1500 per PRS provider from Account II now.

https://www.ppa.my/wp-content/uploads/2020/...Penalty-new.pdf

PRS doesn't have a "interest rate". It is not a FD that have an interest rate nor work as same as EPF.

PRS is a unit trust, its performance is tied to its portfolio investment gain/loss.

All gain or loss is about rise or drop in their investment, which can be seen from its daily NAV movement.
Whether the fund declare any distribution or not, it doesn't matter, as any distribution come from its NAV.
Eg. PRS ABC fund, NAV today is Rm1.00, next day it declares distribution of 3 cents, then you get the 3 cents, but NAV become RM0.97. So your total net worth in the PRS ABC fund still RM1.00.

roger. thank you.. i just check online that we can also withdraw online and transfer to our bank for amount more than 1 million.

only for amount more than a million and have registered for online account at epf counter

True, RM 1M in the EPF is nothing. By late-30s you should already reach this level if makan gaji.
That is assuming you dont withdraw from it for anything (i.e housing, education, healthcare etc)

Assume start working at 24, with wages 10k per month at start and remains the same until 39.

10K per month - Total EPF saved per year is only RM27K.
15 years RM414K saved, compounded with EPF return of 6%, still short 1 mil.

Need more than 10K.

Basically, need 5 digit wages per month.

guys this is a simple projection of  what my epf account will look like after 20 years. u guys can see. getting 1 million is easy as a cake

what is means by 4960 total.

With first year contributed 9360, with 6% interest, no way total interest earned will be 4960.

The total column doesn't make sense.