U can contribute up to 100% if you wish.

Depends on company. You will have to check with your company.

Self-contribution is RM60k a year.

That is a very wise decision.

At 35 percent contribution, as well as your own,
you should be a millionaire in no time at all.

[quote=gempark,Dec 25 2019, 05:35 PM]
Make RM1 million your goal for EPF saving

[/quote]
Very commendable target

All the best


[/quote]

RM1 million is easily achievable and it is a very realistic target, I even think one should have RM2 mil when you hit 60.

[quote=Tham,Jan 3 2020, 04:15 AM]
That is a very wise decision.

At 35 percent contribution, as well as your own,
you should be a millionaire in no time at all.

[/quote]

Thanks, soon.

[quote=tehoice,Apr 28 2020, 10:51 AM]
Very commendable target

All the best


[/quote]

RM1 million is easily achievable and it is a very realistic target, I even think one should have RM2 mil when you hit 60.

[/quote]

Thank you.

Yes, an achievable target. Sorry, I forgot to add yes, do make RM1 million your EPF goal before you hit 40. Then just let it roll.

Without anymore contribution for the next 25 years, easily it becomes RM4 million when you turn 65. Imagine if you keep contributing. And together with other investments, your life is pretty much set well.

EPF - just take it as a saving game.

All the best to everyone!

Are you still believing in EPF full withdrawal at 55 will not be cancelled in future?

Considering how EPF fund are used to prop up Bursa Saham these days.

Selling + buying on same counter on same day. If this is not goreng, I don't know what's it.

self contribution as in?

For EPF savings, one can contribute via employer and in addition could self deposit to EPF account

ohhh can self deposit? is it only via counter? any max amount?

I'm interested to know also.

the 60k limit for self contribute is similar for everybody?

You can contribute at bank counter, epf counter or via online banking

https://www.kwsp.gov.my/ms/member/contribut...lf-contribution

ohhh so max still 60k/year...not bad ya can save more on retirement instead of common savings in bank

I used CIMB Click to top up self-contribution before.

But, I notice CIMB Click adds selection in Contribution Type.

I only can select either "Self-Employed" or "I-Saraan/I-Suri", but I'm none of this type.

I just purely would like to add some money into EPF to gain dividend, how should I proceed?

Thanks in advance!

Don't put all your eggs in one basket. You don't know the value of the ringgit or the independence of the EPF in future.

Money once in cannot be withdrawn until 55.

I am retired n can withdraw EPF anytime. Early this year I self contribute 60k to EPF. If I were to withdraw 40k now, can I deposit 40k back to EPF at year end n still earn dividend accordingly?
And how long it takes to withdraw?
Can I choose 1st day of d month for withdrawal like 1-Sept so that i will still get the dividend for August?

This post has been edited by MGM: Aug 5 2020, 10:32 AM

If you've contributed 60k earlier this year, withdrawing 40k and re-deposit it back to the account is not possible at all.

It only take 1 day to withdraw and processed. Usually next day payment. So far the method of withdrawal that I knew of is manual withdrawal, so you can target 1st if it's a weekday.

Note: This is based on my experiences withdrawing from my 1st account.

I think you mean 'self contribution' vs 'i saraan/i suri'

You may put under self contribution. Your account will be updated with this top up in 2-3 working days. Never fails me.

But if you're self employed doing free lance, you can put in i saraan which government will also give you 15% additional, max m250 per yr to your account 1.

You can withdraw all account 2 amount which is around 1/3 of the savings when you turn 50, which to me sounds fair.

Then full when you reach 55, if you want.

I won't want my government allowing me to withdraw full amount too early. Even today, we hear news how elderly people do not have enough money to go through their retirement life.

We must admit we're not the best steward when it comes to finances.

And you're right. Don't put all your eggs in one basket, but if you're really bad in finance, EPF gives some decent good interest as comparred to UT which may turn your amount to negative and you'll need to pay some entrance or exit fee, or compared to FD which eats up your money and making your purchase power getting smaller.

This post has been edited by gashout: Aug 10 2020, 11:23 PM

Hey, looking to voluntarily self-contribute but have a couple of questions :

1. Is the yearly dividend payout the same as for mandatory contributions?

2. Will it be credited into a separate account say Account 3?

3. Is the withdrawal conditions the same as for Accounts 1 and 2?

4. Can the submission of the Form 6(A) 1 be done online?

1. Yes
2. No There is only acc 1 and 2
3. Yes
4. If self contribution done online no need form