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Linear+
EPF DIVIDEND, EPF
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twinkle5129
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 Jun 20 2016, 05:47 PM
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I've just got to know about self contribution for my stagnant EPF account (since 1990) recently via LYN. My question is for those who self contribute via Maybank online.
I've tried it today and 'click' on self contribute and it said max contribution is $5000. Can I repeat the self contribution everyday, up to max for $60k for this year?
I'm unsure what is 1M contribution. Am I right to click only on 'self contribute'?
Is it better if I do it OTC at Maybank with $60k deposit? Will it affect my dividend if I pay 5k for total of 12 deposit online vs $60k lump sum OTC?
Hopefully someone can advice. Thank you in advance.
This post has been edited by twinkle5129: Jun 20 2016, 05:54 PM
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twinkle5129
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Jun 24 2016, 09:14 AM
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Finally managed to bank in EPF self contribution via Maybank online but I have to make multiple $5000 transaction and $$ is in EPF account after 3 days.
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twinkle5129
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Jun 24 2016, 10:36 PM
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QUOTE(kpfun @ Jun 24 2016, 10:46 AM) It is still better than depositing by cheque, which may take more than a week, in one of my experience. Furthermore, I deposited the cheque in one of the EPF branches. Otherwise, I do not know how long it could take by posting. Last year, I did few online transactions. The credit happened within 2 days only, previously, usually 3 working days. Of cause, do not do it during the weekend or Friday. QUOTE(MGM @ Jun 24 2016, 02:35 PM) I normally do it our the counter n debit from my account @MBB, n the amt will be into my EPF account the next day. I'd transferred online on 21/6- 22/6(PH) and checked this morning, it was already deposited in by 23/6/16. Will place more up to max limit once $$ are in MBB later. With so many negative news on the current economy & Brexit, I'm happy with dividend as low as 5%. Anything above will be a bonus. |
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twinkle5129
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Jun 25 2016, 09:40 AM
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QUOTE(kpfun @ Jun 25 2016, 09:13 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***  I'd finished placing $$$ at ASNB and now placing some in EPF as a form of diversification. If I may ask, what's the max age for self contribution into EPF? If I've placed max $60k in June, 2016, which date can I place another 60k next year? Do I have to wait for June, 2017 or I can do it in Jan, 2017. I forgot to ask EPF staff on my last visit. |
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twinkle5129
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Jun 25 2016, 09:59 AM
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QUOTE(kpfun @ Jun 25 2016, 09:52 AM) It is counting by year, not period. I did before, 120K split over Dec and Jan. Both, dividends were released correctly. Good. I can place more in Jan, 2017. Thank you. Any idea max age for self contribution? |
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twinkle5129
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Jun 25 2016, 11:33 AM
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@kpfun
Thanks for your info. Have a nice weekend too.
This post has been edited by twinkle5129: Jun 25 2016, 11:34 AM
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