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EPF withdrawal for shares/unit trust purchase, limited period before impending doom?
TSrockstar81
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Apr 9 2015, 05:36 PM, updated 9y ago
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Getting Started
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Is it just me or have you forumers been getting advice lately from fund house sales ppl and remisiers to quickly withdraw my epf to invest outside so that our current govt cant touch the money?
i've been given this advise by at least 2 remisiers and 2 fund house sales ppl.
i'm really not sure if this is a good idea. Any of you doing so? epf has always given me pretty good returns considering the 'risk' involved. But has the risk increased significantly?
can i retire with the epf money one day??
or will they switch retirement/withdrawal age or change the withdrawal amount to fix amount like how some european countries have done to tide the country's liquidity issue
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sahamniaga
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Apr 9 2015, 06:55 PM
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Getting Started
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QUOTE(rockstar81 @ Apr 9 2015, 05:36 PM) Is it just me or have you forumers been getting advice lately from fund house sales ppl and remisiers to quickly withdraw my epf to invest outside so that our current govt cant touch the money? i've been given this advise by at least 2 remisiers and 2 fund house sales ppl. i'm really not sure if this is a good idea. Any of you doing so? epf has always given me pretty good returns considering the 'risk' involved. But has the risk increased significantly? Can i retire with the epf money one day??
or will they switch retirement/withdrawal age or change the withdrawal amount to fix amount like how some european countries have done to tide the country's liquidity issueEPF tak boleh percaya one, just matter of time, they will lock up public money by introducing new rules. Better learn to invest safely yourself, maybe you can focus on high yield dividend counters.
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Bonescythe
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Apr 9 2015, 07:25 PM
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plumberly
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Apr 9 2015, 08:09 PM
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QUOTE(Bonescythe @ Apr 9 2015, 07:25 PM) Applies to KWSP as well?
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nexona88
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Apr 9 2015, 08:14 PM
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QUOTE(plumberly @ Apr 9 2015, 08:09 PM) tat one is gomen staff pension fund, not kwsp
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nexona88
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Apr 9 2015, 08:17 PM
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QUOTE(rockstar81 @ Apr 9 2015, 05:36 PM) Is it just me or have you forumers been getting advice lately from fund house sales ppl and remisiers to quickly withdraw my epf to invest outside so that our current govt cant touch the money? i've been given this advise by at least 2 remisiers and 2 fund house sales ppl. i'm really not sure if this is a good idea. Any of you doing so? epf has always given me pretty good returns considering the 'risk' involved. But has the risk increased significantly? can i retire with the epf money one day?? or will they switch retirement/withdrawal age or change the withdrawal amount to fix amount like how some european countries have done to tide the country's liquidity issue there's few reason why they said like that.. the main reason is to make more commission for them & achieved their KPI / sales target others well wat they say might be true also This post has been edited by nexona88: Apr 9 2015, 08:18 PM
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nanan75
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Apr 9 2015, 09:53 PM
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If even you can invest max amount, u will not see or touch the EPF money. Gain or lose, everything will be transfered back to the epf account.
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Bonescythe
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Apr 9 2015, 09:53 PM
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QUOTE(plumberly @ Apr 9 2015, 08:09 PM) Err.. dunno.. but those government sector like teacher and doctors... huhu
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wodenus
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Apr 9 2015, 10:37 PM
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(Someone already said this..)
This post has been edited by wodenus: Apr 9 2015, 10:38 PM
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Cubalagi
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Apr 10 2015, 12:26 AM
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They just want to sell their products lar. So use scare tactics.
Even if you withdraw the money for UT or share investment, you still cant take out the money. The money will still have to be returned to EPF later.
This post has been edited by Cubalagi: Apr 10 2015, 12:35 AM
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plumberly
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Apr 10 2015, 08:14 AM
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QUOTE(Bonescythe @ Apr 9 2015, 09:53 PM) Err.. dunno.. but those government sector like teacher and doctors... huhu Gee, those guys there are so thick face, dare to change the laws to hide the wrong doings! I pity those in KWAP with the money lords draining their money away. Fear is later they may also extend it to other retirement funds.
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backspace66
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Apr 10 2015, 08:19 AM
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QUOTE(Cubalagi @ Apr 10 2015, 12:26 AM) They just want to sell their products lar. So use scare tactics. Even if you withdraw the money for UT or share investment, you still cant take out the money. The money will still have to be returned to EPF later. this is true, but if you exceeed Rm 1 million, you can take out the excess, I do understand there is not many that have achieved more than 1 Million in their EPF account, but if you are confident you can accelerate your yield by investing in stock using EPF SPA scheme. RHB invest and some other company provide this service. It works the same way as investment through unit trust using EPF account 1 but you have total control on which stock you want to buy, of course with some fee.
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TSrockstar81
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Apr 10 2015, 05:53 PM
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Getting Started
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its not about getting better yields. EPF has been my 'risk' free steady returns vehicle. But if it comes under threat should we try to move it out first and wait to see if 1mdb can start repaying its debts?
i know the money eventually goes back into my epf acct but they cant spend what's not there right?
This post has been edited by rockstar81: Apr 10 2015, 05:53 PM
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backspace66
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Apr 10 2015, 06:42 PM
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QUOTE(rockstar81 @ Apr 10 2015, 05:53 PM) its not about getting better yields. EPF has been my 'risk' free steady returns vehicle. But if it comes under threat should we try to move it out first and wait to see if 1mdb can start repaying its debts? i know the money eventually goes back into my epf acct but they cant spend what's not there right? i dont believe they can force sell your equity. Even now, i am taking the opportunity to take out my epf 2nd account supposedly for serving my mortgage and taking out from my 1st account to the maximum available limit to invest in unit trust.
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Oracles99
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Apr 10 2015, 06:48 PM
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From Malaysiakini today: EPF considering realigning withdrawal age to 60.
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AVFAN
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Apr 10 2015, 06:51 PM
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QUOTE(Oracles99 @ Apr 10 2015, 06:48 PM) From Malaysiakini today: EPF considering realigning withdrawal age to 60. i m surprised they haven't done it yet. good for u! http://www.themalaymailonline.com/malaysia...-to-60-ceo-says
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nexona88
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Apr 10 2015, 09:58 PM
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QUOTE(Oracles99 @ Apr 10 2015, 06:48 PM) From Malaysiakini today: EPF considering realigning withdrawal age to 60. why I'm not surprise with the decision
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wodenus
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Apr 10 2015, 10:48 PM
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Not the first time he has said this. He said this last year too http://www.themalaysianinsider.com/malaysi...ssible-says-epfThis post has been edited by wodenus: Apr 10 2015, 10:49 PM
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sahamniaga
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Apr 13 2015, 11:12 AM
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Getting Started
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QUOTE(rockstar81 @ Apr 12 2015, 12:18 AM) http://www.thestar.com.my/Business/Busines...-age/?style=bizthis is exactly what i'm referring to. first and easiest thing to do is to increase age for withdrawal, second comes the limits for withdrawal per year. then the epf becomes a complete ponzi scheme. and our beloved gomen becomes Bernie Madoff. They will do it , just a matter of timing.
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