yes, Calculation based on RM 196.800 at age 55, if younger....lower rate, (ex, RM 27 000 for age 30) and yes. (until further notice)...
Purpose:
This withdrawal allows you to withdraw part of your savings in Account 1 for investments to increase your retirement fund to support your life after retirement.
You are allowed to invest not more than 20% of the total amount in excess of your Basic Savings in Account 1 through the Appointed Fund Management Institutes approved by the Ministry of Finance.
Basic Savings:
With regards to the second statement from the Purpose section, Basic Savings is defined as;

"A pre-determined savings amount in your Account 1 according to your age to enable you to achieve a minimum savings amount of RM196,800.00 when you are 55 years old. The savings cannot be withdrawn until you are 55 years old."


This post has been edited by yklooi: Jan 15 2014, 09:10 AM

"Now"??
i thought the scheme had started years back......(i think it started in 1996)

edited..double posting.

This post has been edited by yklooi: Jan 15 2014, 11:16 AM

info in this
http://www.kwsp.gov.my/portal/documents/10...r_2012__BM_.pdf

that is why the KLSE is up, up, up,
those banks that has UT links will cont to be up, up,up because of the regular investment from members...

maybe gomen trying to slow down the growth of the mkt valuation...currently on high side when compared with the neighbours

just to add updates onto your info
EPF seeks consultation on withdrawal age.....Saturday, 11 April 2015
THE Employees Provident Fund (EPF) is planning to call for a public consultation as a first step towards raising the permissible age for members to withdraw their retirement savings from the current 55 years to 60 years.

will I be too old for the ......

http://www.thestar.com.my/Business/Busines...-age/?style=biz

if extent from 55 to 60....5 yrs no $$ withdrawals by the affected contributors....
wow,....just imaging the total amount of monies the gomen can accumulate from that in that 5 years.....BETTER cashflow control.....just like when a company extent the payment to suppliers from 30 days to 90 days...

saying that is more "Pleasing" to the contributors ears.....
Later they can says....85% of the public opinions "consulted" says that it is a GOOD moves to raise to 60 yrs.

This post has been edited by yklooi: Apr 11 2015, 10:05 AM

isn't that is the current withdrawal policy?
now is better right...at 50 can withdraw part of it...

in that case,...gomen may shift the goal post by 5 yrs....(all the same but moved by 5 yrs)

I will goto which ever gives me a "perceived BETTER" returns....

so you no convert?

okay,...if 1st ~ 3yrs,...you no convert,...."IF" Syariah is 2% pa more....after 3 yrs ,..then you convert,...then like you said..."it become lower. then how? u already stuck with them. u cannot go back to conventional one "...

I think the Shariah one don't have minimum one...only the conventional one does

just found this...
"the syariah EPF scheme is an Islamic compliant scheme which cannot set a minimum dividend rate. "
http://www.malaysianchinesenews.com/2016/0...rovident-funds/

read this?.....
INTRODUCTION TO SIMPANAN SHARIAH
https://secure.kwsp.gov.my/shariah/faq.html

read this?
look inside
SHARIAH
https://secure.kwsp.gov.my/shariah/faq.html

...... an increase in quarterly total investment income to RM12.88 billion for the first quarter ended 31 March 2018 (Q1 2018), a year-on-year increase of 9.20 per cent from RM11.79 billion recorded during the same period last year.

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


an increase in quarterly total investment income to RM12.39 billion for the second quarter ended 30 June 2018 (Q2 2018),

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

.......third quarter ended Sept 30, 2018 rose to RM14.61bil, ......
The retirement fund said on Wednesday the income was up 12.82% from RM12.95bil a year ago.
Read more at https://www.thestar.com.my/business/busines...vDDKcjK40Be0.99

1st, 2nd & 3rd quarter up....

increase in value term...how much was used for the investment? thus what is the % of ROi?

This post has been edited by yklooi: Dec 19 2018, 05:25 PM

thanks...
(updated my post)