u calculate your zakat based on the earnings and go to any jabatan agama islam that is responsible for tithe

in sarawak, we have baitulmal to collect tithe

it means that you can top up RM 88,709

or u have invested RM 111,291 into the account

your balance is not necessarily RM 111,291 as you have not included your accrued dividends

btw, org kaya spotted

u guys got confused again

your INITIAL INVESTMENT limit is RM 200,000. this has been and always will be the same

however, your LIMIT can be increased due to accrued dividend

thus, if you have RM 200k principal, and your accrued dividend for the past 5 yrs = rm 80k

thus your new LIMIT is RM 280k. you can withdraw all RM 280,000 and do ASB financing for that amount


just imagine the LIMIT = BASKET

you are given a 200k limit BASKET

your BASKET can GROW over time in so it can accomodate your principal + dividend

your BASKET size NEVER SHRINK

you can take out all your money and your BASKET SIZE REMAINS THE SAME

which explains why some people can take up to 400k ASB financing (this is the current ASB financing limit that i see they advertise, you can always ask for more, but it depends on the bank's approval)

hope everyone understands from this point onward

there is NO CONSPIRACY, NO PREFERENTIAL TREATMENT and NO INSIDER at all

if there is, i'd be the first to know. my client receives special personalized card on birthdays, new year, hari raya from PNB due to the account balance every year and yet still got 200k INITIAL INVESTMENT LIMIT

Q1: yes
Q2: no. unless it's a cash cheque with the a/c payee only crossed out and it cashed out at the house bank

she claimed to have to be able to top up that much

anyone can do that. i will reserve my judgement until i see some passbook balances / printouts

yes. they are. not in large amount though. but still you can make deposits of 20 - 30k easily. 50k will need to see chance.

EPF withdrawal to ASB / ASM / ASW2020 / AS1M

don't be too hasty and too hopeful

there are many criteria you need to fulfill, and you can only w/draw a certain percentahe of Account 2 balance

your Acc1 shall not be touched

if you have a 100k EPF, expect to be able to w/draw maybe about 7- 10k for reinvestment.


http://www.asnb.com.my/english/epf.htm


edit: apparently, it is based on your Acc1 balance too. my bad.

This post has been edited by lucifah: Jan 24 2014, 03:07 PM

it will be lower than last year since no more GE

just like all Amanah Saham trending

to me? i'll let you have 6% and i'll enjoy the extra 0.7% in AS1M

yes, you are quite correct - but still, you'd need your EPF balance is in the six figures and you are in the younger age bracket


anyway, for anyone interested in the EPF reinvestment scheme, apparently there's the new quantum table:

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



This post has been edited by lucifah: Jan 24 2014, 07:48 PM

my eligibility only allows me to reinvest a paltry rm 8k

for all the trouble, it's not worth the extra 1% per annum in dividend that i get vs EPF's return

u are very hardworking

btw, your quote a few weeks ago

20% of acc balance = 70k

you have at least 350k in your EPF acc 1

sweeettt...

let me get this straight:

you mean you can w/draw perpetually as long as your 20% is more than 1,000?

wow... learned something new


lets's say Mr Ali is 30 yrs old and has 100k in his Acc1 balance (assume his balance is static at this moment)

his mandatory savings = 27k

His eligbility = 73k

thus, in

January he can w/draw 20% of 73k = RM 14.6k

in April, he can w/draw 20% of (73k - 14.6k) = 11.6k

and for the next 3 months:


Withdrawal
Jan 14 14,600
April 14 11,680
July 14 9,344
Sept 14 7,475
Jan 15 5,980
April 15 4,784
July 15 3,827
Sept 15 3,062

am i correct with this understanding?

en ali doesn't necessarily have to work outsde of malaysia if his EPF balance is static

en ali might be running his own business (business owners are encouraged to contribute to EPF, but not mandatory)

en ali is now very keen

and en ali will sure be busy on monday morning

noted that. thanks for highlighting it. i am now very interested

so i went to ASNB office today for EPF re-investment thingy

bummer. only ASG or ASN products are available - that is variable fund

AS1M quota for EPF reinvestment is sold out

I'll study ASG returns vs EPF dividend this year and see if it is worth the time to reinvest or not



This post has been edited by lucifah: Jan 27 2014, 11:15 AM

tried it once for the lulz. i put it in aggressive growth fund. leave it for one year.

invested 6k.

returned 6.1k.

rm 100 from the rm 6k investment over a year which translates to about 1.67% return



to be fair, if i put it in normal trust fund, the return on evrage is about 4-6%. which is about what EPF is dishing out

bumi quota sold out, but there's always people selling. this is latest info after my chit chat session with my bank manager

apparently, i am bumped into PW status




the 2 bil is for ASB2. even the bank manager has no idea what's the ASB2 features will be. only the allocation size is 2 bil.

sorry to say, but most probably the new fund will be limited to bumi only

this is due to the demands by some quarters who say the 200k asb limit is too restrictive