Great to hear that March 4th at 12.30pm to announce EPF dividend after a long wait. Hopefully the dividend won't disappointed everyone.

Easy to withdraw everything.

Where are you going to put your million withdrawal in?  FD? 

Already have other investments. FD rates will not beat EPF. Even with special rates.
So how? 

personally, I believe there is no need to over react.... all ok to relook into one's plan and do some future planning or some small adjustment.

If one planned and executed properly (plus a bit of good luck), by the time we all reach 55 years old, 240K rm should be a small part of our retirement funds. Allow me to just use a simple example for illustration.
say at 55, one has 3 million ringgit (arbitrary number). if epf wants to hold 240K rm, so be it... let them hold it.... just take it as either we keep 240K rm with MBSB (yeah, I know, not very safe) earning 5% pa FD rate, or we can pretend that we just spent 240K rm on a car.
eitherway, because we still have 2.8 million left, wait 2 to 5 years, our funds would have grown back to 3 million at least.

But if say at 55, one only has 800K rm (cos spent a lot on kids education), then 240K rm is a big amount. But if one really think about it, doesn't this mean that the 240K rm in EPF earning 5% or above is really a good deal?
Eitherway, in reality, stopping the special withdrawal used up so much political will... implement this as mandatory... I just wonder how much our PMX is willing to lose.

Personally i agree with the government's position.  You see, majority in malaysia is dumb enough to plan their retirement . The moment , they get their hands on EPF money - they instantaneously spend it.

Example , if you have 2 mil in your epf - the right thing to do is to just withdraw the dividend and survive based on the dividend alone . With 2 mil in account, you can afford to live a decent live ~ RM 120,000 on average .

I knew an idiot ( My father ) who took out close to 1.8 mil and finished using them in 5 yrs and now became a professional beggar .
120k - give out to sister cos she is poor
loan to friend
renovated a properly functioning kitchen

At this moment i told him, if you want money from me , please itemize all your expenses before we can discuss about me supporting you financially .

Personally i agree with the government's position.  You see, majority in malaysia is dumb enough to plan their retirement . The moment , they get their hands on EPF money - they instantaneously spend it.

Example , if you have 2 mil in your epf - the right thing to do is to just withdraw the dividend and survive based on the dividend alone . With 2 mil in account, you can afford to live a decent live ~ RM 120,000 on average .

I knew an idiot ( My father ) who took out close to 1.8 mil and finished using them in 5 yrs and now became a professional beggar .
120k - give out to sister cos she is poor
loan to friend
renovated a properly functioning kitchen

At this moment i told him, if you want money from me , please itemize all your expenses before we can discuss about me supporting you financially .

i agree...

those who are in this topics are the smart ones....
he's warning of the bad side of money.... if you have lots of money and people will want to be your friend..
if the dad did that, he won't become a professional beggar lo.

This one I support
Sometimes we have smart ppl here or big whale here... Good example is Amiga Nexo and Ronnie
I totally agree with the statement make sure to unfriend stupid friend give stupid advice

For full withdrawal, depends when you made it. If you make it in the FY, you do not get anything.
If you withdrawal in the following FY, you will still receive it.

Many retired personnel's withdraw dividends??

The 66% purification fees is required only for those Muslim that sticks with conventional account.

Those already in shariah account no need to do the dividend purification.