Public Pensions: Has the Crisis Only Started?

http://www.elliottwave.com/freeupdates/arc...x#axzz2yHAUnDgF

Are we in Bolehland heading in the same direction?

After watching the video, asked myself are our EPF and ASX in the same category as their USA public pension? Scary if they are as I have some of my retirement fund in there.

Questions:

A. Is our EPF contribution 100% guaranteed? Even by the incoming new govt if the previous govt failed?
B. Are ASX also 100% guaranteed?

An example to look at is Greece. What happened to their EPF and ASX equivalent? Totally collapsed with no payback?

Appreciate your input supported by relevant doc.

Cheerio.

I hope you are still practising the "don't sapu all but leave some for that guy's son"! Ha.

Congratulation on your regular strikes lately.

Cheerio.

Like to share one thing I realised yesterday. It may be common sense but some people like me tend to make things more difficult.

Want to know how to increase your ASX strike rate?

I used to say to the bank staff that I would like to get RM1000 worth of units, if available. In my view, taking too long to get RM100 one by one.

He/she tried and most of the time, no luck. He/she returned the passbooks and said no units available.

Nothing wrong right?

Well, just realised that it is better to start with RM100 or RM50.

If no strike, then tough luck indeed.

If ada, then I can ask for RM500 or RM1000! Ha.


You must be wondering why I am sharing this tip. Well, it is not my units you are buying. I cannot be there 8 hrs a day, 5 days a week. It all comes down to "timing luck" in my view. So, if someone who happens to go there, try this tip and gets some, congratulations and well done.

Just doing my part on lesson 5 in the book - 5 Lessons From A Millionaire Friend On Health & Wealth. 5th lesson is on helping others. Ha.

Cheerio and better luck!

This post has been edited by plumberly: Apr 8 2014, 09:39 PM

Bro, noted and thanks.

Maybe my understanding of trustee is either wrong or I don't trust the trustees (only there in name and not really doing the jobs properly). In our Boleh land, a lot of positions are filled by connection and not by expertise.

Trustees are there to oversee the major fund operation. Do they really do so? Do they have the expertise to do that? Then again, even experts can also make mistakes.

So back to EPF/ASX, even with trustees, are the investments guaranteed? I know difficult to get an answer.

Cheerio.

I see.

On ASX, not guaranteed even for the fixed price units?

Cheerio.

Thanks, Sifu.

Noted and thanks, Sifu.

Not a good week to get ASX this week.

Went to MB, waited for 15 mins to get my number, waited for another 30 mins for my number to be called, informed by the bank lady that she has 5 ASB applications to do and have to wait for another 30-60 mins. I decided to go.

Another attempt at PM this week. They have 2 counters for ASX. One chinese lady came in and went to one of the 2 ASX counters without a number. She has some problems with her car insurance policy purchase, the PM lady at the ASX counter tried to help her and thus delaying other ASX customers. Annoying! Adding salt to injury, when the other PM staff was checking for me, one customer came to him, wanting to buy stamps! The staff went to another counter and got the stamp for this customer! Annoying annoying!!

Guess what? I managed to get some but only RM10 of ASM! What a productive day!

Any of your funny, frustrating ASX story to share?

Cheerio.

I was surprised when I heard that in the BR1M application form, one has to fill in one's state and national electoral seats! Why? I did not know that BR1M is given depending on which seats one is in!

Words from a wise man!

I have always thought and proved it mathematically that it is a ++ to get the loan for ASB. Was not aware of the loan implication. Correct me if I am wrong, if one gets a loan for X (for ASB or house), this will affect one's future loan as this "eats" up theloan quota, right?

Cheerio.

Thanks bro.

Like to learn more.

More infor on DSR, what is the working ratio, what is cut off limit etc.

Same for all the banks or up to the banks to decide?

Thanks.

P/S Looking ahead, as it is tied to one's salary, how then do they work this out for retirees or early retirees? They can't get loan any more?

This post has been edited by plumberly: Apr 12 2014, 10:25 AM

Yes, that is looking from portfolio perspective.

But if you consider only the return, then ASB2 (if it performs as well as its older brother ASB) should be better than AS1M by about 1% higher from past ASB & AS1M performance.

With my non bumi eyes on, I feel that ASBX (bumi only) tend to do better than ASX (bumi and non bumi). I wonder why? Change my contact lens to see better? Ha.

Cheerio.

Diplomatic way of saying it. Ha.

Decided to do some analysis to get a better picture for myself.

Sharing 1



With RM100,000 each in ASM, ASW2020 and ASB in 2001, ASB has delivered the highest 13 yrs later. Honestly, I thought the difference would be a lot more but it did not. So, ASM, ASW & ASB are in the same ball park in return. I know some will be coming back that I left out the bonus % in ASB. To me, ASB is worth it if one makes use of the bonus as otherwise, it is only slightly better than ASM and ASW2020.


Sharing 2



Surprised that ASM & ASW2020 have done better than ASB in some years (2001, 2002 & 2008, bonus % excluded).

Note that since 2009, with some hidden hands in the system, ASB has consistently done better than the rest by about 1%! Maybe someone up there realised the need to have a higher return for this special fund for the special people. Ha.

Wonder whether there was a change in the top govt or PNB in 2008/2009?

Cheerio.

This post has been edited by plumberly: Apr 14 2014, 06:30 PM

I left out the bonus as not every one with ASB is eligible to get it, if I understand it correctly from lucifah. One needs to keep it for x years, etc. So, only the die hard savers will get the bonus.


This post has been edited by plumberly: Apr 14 2014, 09:34 PM

Noted and thanks.

Cheerio.

Thanks.

Based on average amount of the moving last 10 years?

Cheerio.

I have updated the comparison with the new bonus calc infor from some of you. The comparison is below.



I used the average of the moving last 10 yearly lowest balance * bonus %.

ASB performance has speeded up over the last few years.

What is very shocking and disappointing for me as a non bumi is the comparison with FD. FD is where I have been putting my spare money to grow and it seriously needs some truck-load of growth hormone in comparing with the ASX!

Cheerio.

Rather quiet here.

Any update from those topping up your ASX? For me, very little, only RM 30 and RM50 for ASM.

I guess there is a monthly cycle on the units availability, people selling theirs at the end and start of the month.

Cheerio.

I tried early this afternoon. Result = 0.00

Your timing for the ASX is very good!

Cheerio.

I really pity the auntie.

At my end, I also have my share of uncooperative staff. E.g. (a) system down, (b) go to ASNB as they have better computer system, © like this week at CIMB, the ticket staff told me the long waiting time and when I asked how many numbers were ahead of me, ONLY 1! 1 hr to process 1 ASB customer! My gut feel is they want to reduce serving ASX customers and one way is reduce or not issue ticket for this transaction.

I have been wanting to inform ASNB on some staff (mainly bank staff, PM staff are mostly helpful) who are reluctant to serve non bumi customers as they have to check whether there are free units for sale or not.

To prove my point, I will propose ASNB to do a simple check - see how many successful transactions (for non bumi) they have for the banks and post office. I am pretty sure that PM has a much higher transactions than the banks (on per PO and per bank basis).

Is it really that tiring to do non bumi transaction? Or is it because the banks do not get commission for this transaction?

Appreciate concerns/ideas/suggestions from all which I can use in my communication with ASNB.

Thanks.

This post has been edited by plumberly: Apr 17 2014, 09:37 PM