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 EPF withdrawal for shares/unit trust purchase, limited period before impending doom?

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TSrockstar81
post Apr 9 2015, 05:36 PM, updated 9y ago

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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


sahamniaga
post Apr 9 2015, 06:55 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
*
EPF 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.
Bonescythe
post Apr 9 2015, 07:25 PM

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http://www.theedgemarkets.com/my/article/r...nvestment-panel

for you to make ur decision
plumberly
post Apr 9 2015, 08:09 PM

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QUOTE(Bonescythe @ Apr 9 2015, 07:25 PM)
Applies to KWSP as well?
nexona88
post Apr 9 2015, 08:14 PM

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QUOTE(plumberly @ Apr 9 2015, 08:09 PM)
Applies to KWSP as well?
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tat one is gomen staff pension fund, not kwsp icon_rolleyes.gif
nexona88
post 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 tongue.gif

This post has been edited by nexona88: Apr 9 2015, 08:18 PM
nanan75
post 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.
Bonescythe
post Apr 9 2015, 09:53 PM

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QUOTE(plumberly @ Apr 9 2015, 08:09 PM)
Applies to KWSP as well?
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Err.. dunno..

but those government sector like teacher and doctors... huhu
wodenus
post 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
Cubalagi
post 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
plumberly
post 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.
backspace66
post 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.
TSrockstar81
post Apr 10 2015, 05:53 PM

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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
backspace66
post 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.
Oracles99
post Apr 10 2015, 06:48 PM

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From Malaysiakini today: EPF considering realigning withdrawal age to 60.
AVFAN
post 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.
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i m surprised they haven't done it yet. good for u! laugh.gif
http://www.themalaymailonline.com/malaysia...-to-60-ceo-says
nexona88
post 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 yawn.gif
wodenus
post 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-epf

This post has been edited by wodenus: Apr 10 2015, 10:49 PM
TSrockstar81
post Apr 12 2015, 12:18 AM

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

this 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. icon_question.gif icon_question.gif
sahamniaga
post Apr 13 2015, 11:12 AM

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QUOTE(rockstar81 @ Apr 12 2015, 12:18 AM)
http://www.thestar.com.my/Business/Busines...-age/?style=biz

this 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. icon_question.gif  icon_question.gif
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They will do it , just a matter of timing.

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