Frankly speaking I really pulling money out of EPF to invest in the unit trust funds. After 4 years, the funds I put money into are still negative. While my EPF funds are growing steadily.

Frankly speaking I really pulling money out of EPF to invest in the unit trust funds. After 4 years, the funds I put money into are still negative. While my EPF funds are growing steadily.

Difficult to withdraw or not, I can't say as I have no experience doing so. My father however has done so a couple of times to my knowledge and he has yet to complain about their procedures or processing lead time.

But as to whether EPF is worthy investment platform, unless you have the appetite for high risks, then EPF is a very sound platform. Have yet to see a FD offering higher return than EPF so far. But would be happily corrected if anyone knows otherwise!

why did u pull money out of EPF? Because of stupid rumor saying it will go bankrupt?

Unit trust funds and stock are all a scam by banks to make money for themselves.

It makes less interest than EPF.

I invested in stock in the past and lost money... Unit trust is only slightly better but still not as good as EPF.

Slightly better than EPF? Have yet to see any positive sign of that.

i said 'slightly better than stock NOT EPF'.

Stock is a big gambling den, anytime you can lose a lot of money.

Unit trust funds and stock are all a scam by banks to make money for themselves.

It makes less interest than EPF.

I invested in stock in the past and lost money... Unit trust is only slightly better but still not as good as EPF.

Not scam la... you buy unit trust with high fees is it.

In the end it all depends on the fund you pick and it’s management fees. Do your due diligence first before any investment decisions. There are people making good money with higher returns than EPF. High risk high return.

Don’t buy lump sump la. DCA in.

You think we have so much free time to do research in real-life?
All the research papers are done by banks so of course, they will only publish the good side and not bad side.

In the past, there were no forums and most people don't know how to use internet.

Those bank agents will only tell you the good things and not bad things.

The bad thing is that we can lose the principle sum. The interest rate isn't as high as EPF either.

Those bank agents are scammers and I really want to scold them everytime I meet them.

You think we have so much free time to do research in real-life?
All the research papers are done by banks so of course, they will only publish the good side and not bad side.

In the past, there were no forums and most people don't know how to use internet.

Those bank agents will only tell you the good things and not bad things.

The bad thing is that we can lose the principle sum. The interest rate isn't as high as EPF either.

Those bank agents are scammers and I really want to scold them everytime I meet them.

Hardly, of course to look for better returns with unit trust funds that could invest overseas where the EPF has until recently not been allowed to go.

Dear learned forumers,

Can a civil servant under pension scheme still do self contribution to EPF while still working (not retired yet)?
And will that self-contribution be eligible for tax relief under life insurance + EPF (max RM6K)?
Hope someone can verify this...

Thanks!

I worked full time in MnC company. Is it possible to self contribute to EPF as well?

If your employer is already contributing to EPF, then no. Self-contribution is mostly for business owners or those who are self-employed.

Not sure what would happen if you self-contribute. Maybe the system would automatically reject the contribution. Or maybe they would call you to refund the contribution.

Can self contribute as top up but the total from your deductions and top up is up to 60k annually.

From their website, EPF said there are only 3 classes of people that are allowed to do self-contribution:

http://www.kwsp.gov.my/portal/en/member/me...lf-contribution

Like I have said earlier, I have no idea what would happen if a person who is not in those 3 classes made some self-contributions.

(3) Without prejudice to the provisions of subsections (1) and (1A), an employer and an employee or either of them may, at any time elect to pay monthly contributions at a rate which exceeds the rate respectively set out in the Third Schedule by one ringgit or a multiple of one ringgit subject to any maximum limit of monthly contributions set out in the Third Schedule.

[Am. Act A1504]

(4) Notice of such election shall be given to the Board in such manner as may be prescribed by the Board and where any such notice has been given, this Act shall, in respect of any employer or employee who has elected as aforesaid, apply as if the rate of contribution which such employer or employee has elected to pay, were the rate respectively set out in the Third Schedule:

Provided that an election cannot be made to take effect retrospectively.

The act itself says you can give notice to do a higher monthly deduction for EPF.
http://www.kwsp.gov.my/portal/en/web/kwsp/...epf-act-reports

I thought the notice in Form 17A is to increase from 8% to 11%, i.e. 3% higher.

Not sure if can choose to go higher than 3% or not.