What do all these Classes A C, X , etc mean ?

http://www.cimb-principal.com.my/prs/downloadcentre.aspx

Oh, just the fees.

I thought they had different performances and risks.

Thanks.

I had some trouble registering in the PPA - said "invalid details or error".

Seems you must invest something the moment you sign up.

Then this PPA emailed me one week later asking for my ID and
phone number to activate my account.




This post has been edited by Tham: Mar 22 2018, 06:09 PM

CIMB charges $ 40 to open an account ?

https://docs.google.com/spreadsheets/d/1yiR...ers=false&gid=0


Seems waived for Class X. Wouldn't it be cheaper to buy this class then ?

But Class X is not listed in Fund Supermart, only Class C.

SoothSayer


These look like the top three performers.

The CIMB Dynamic Income looks a less riskier choice
- the NAV is relatively stable between 0.22 and 0.40, a change
of about 80 percent over the last ten years.

Seems even more stable than the PRS Japan fund (0.50 - 1.08),
a change of about 120 percent.

The Kenanga fund fluctuated between 0.73 to 2.25, over 200 percent.



This post has been edited by Tham: Mar 25 2018, 05:07 PM

This writer talks about why it is a mistake to opt for the
8 percent contribution rate when it was proposed last year.


However, the more important point it is trying to demonstrate is
what just a few extra percent of putting your money into the EPF
means to your savings over the years.


https://www.imoney.my/articles/epf-contribu...te-2016-8-or-11

https://forum.lowyat.net/index.php?showtopi...post&p=88313180

Thanks for the info.

There's another member . Soothsayer, here who is
quite knowledgeable in unit trusts.

You could ask him.

Otherwise, as a safe guide, just save at least 70 %
of your money in EPF, not more than 30 % in unit trusts.

EPF is always the safest form of savings you can have, at a good interest.
Your money won't ever go downwards or run away till the day you die.

To register for the online account, I think they may
need your thumbprints and view your IC ?

I think years ago, when I registered my account,
I had to do this at one of their offices.

After that, they sent me a PIN number by post to
start the online account.

Download the Form 17A from here.

http://www.kwsp.gov.my/portal/en/member/me...o-contributions


Fill in, and ask your employer to sign at the bottom.
Photostat one copy for them.

Then give the form to EPF office.


If your salary is, say, $ 4,000 now, then they will have
to deduct another 25 percent for an extra $ 1,000.

Total deduction will be 11 + 25 = 36 percent.


Or just fill in $ 1,000 in the box there.


If you want to cancel this later, then fill in Form 18A
and give them.




I do not know if they allow employees to do this with cash,
but you could also give a bank draft for that amount
every month to the EPF office.

Or maybe hand in at the bank agent counter at these
banks.


Maybank
Public Bank
RHB
Bank Simpanan Nasional


Go to any EPF office and ask one of the advisors
there to help you.

You can try the office at Section 15, Shah Alam.

The usual advisors are Mr Yazid and Mr Iskandar.
They are very helpful.


The office at Jln Gasing has closed down. Seems
they will not be doing renovation or reopening it
after the fire.

Mr Iskandar said they will be opening a new one
elsewhere later.



This post has been edited by Tham: Dec 8 2018, 05:32 PM

Just fill in that Form 17A, then go to the Shah Alam
office to see the advisors for help -

Mr Yazid
Mr Iskandar

Or any advisor at any EPF branch close to you.


I am not sure if they allow online banking for employees,
but the others said they do it, so that is good for you.

Otherwise, your boss can deduct extra as much as
you like every month from your pay, up to $ 60,000 a year.

Do they allow online banking for employees ?

You filled in the Form 17A, then went to EPF office
to see the people there ?

You are correct.

I was at EPF at Shah Alam two days ago.

The advisor, Mr Fadzili, told me that just before elections,
there was mass panic, started by those Pakatan guys.

He said many came forward to CLOSE their accounts,
asking him if EPF was going bankrupt.

Despite his reassurances, they believed the propaganda and still
instructed him to go ahead and close.

He said he and the other advisors like Mr Yazid handled
many such cases.


After the election, he said about 60 percent came back
to reopen again.

Of course, the advisor told them that they can only bank
back in $ 60,000 a year.



This post has been edited by Tham: Dec 21 2018, 07:28 PM

I think I remember the EPF advisor, My Yazid, telling me
that the $ 60,000 limit only applies to self-contribution from
nonemployees - selfemployed, students, housewives, etc,
using the Form 6A.

For additional contributions using the Form 17 for employees,
already working and contributing, I think there is no limit,
whether the employee's or employer's portion, or both,

I may be wrong, but you can always go to consult any of
the advisors there.

The usual advisors at the branch at Jalan Pahat L15/L,
Shah Alam, are -

Mr Yazid
Mr Iskandar
Mr Fadzali

The actual "self-contribution" definition by the EPF refers
to voluntary contributions by freelancers, maids, students,
housewives, businessmen, etc.

That is, those who do not come under the EPF Act 1991.
and so do not need to make any compulsory contributions.

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


The selfcontribution form is actually Form 6A.

http://www.kwsp.gov.my/portal/en/employers...ted-to-employer


For this, I believe the limit is RM 60,000 a year.





The other one, strictly for employees, is called
" Contributing More Than The Statutory Rate".

That is, those who come under the EPF Act 1991.

http://www.kwsp.gov.my/portal/en/member/me...-statutory-rate

http://www.kwsp.gov.my/portal/en/employers...oluntary-excess


The Statutory rate is -

Employees - 11 percent
Employers - 13 percent


For this , you fill in the Form 17A.

If your employer wishes to contribute extra for you too,
he fills in Form 17.

I think the RM 60,000 limit does not apply here. employer or employee.
I may be wrong, so you should consult one of the advisors at any EPF branch.


If the employee also wishes to bank in on his own to the EPF,
as and when he has the money, at one of walk-in counters at Maybank,
Public Bank, RHB, BSN, he may also do so, but I think this portion may
be subject to the RM 60,000 limit.

Again, see the advisors to check on this.




This post has been edited by Tham: Mar 5 2019, 03:53 PM

According to the EPF’s annual report for 2011, the
average savings for active members at the age of 54
stood at RM 149,216 while the average savings in EPF
for inactive members was RM 23,389. "


With EPF savings amounting to RM149,216, a retiree
will only have about RM 827 a month to live on.



A retirement fund of about RM 150,000 would last a
previously middle-income retiree just over 2 years. "


https://www.imoney.my/articles/1-10-malaysi...ared-retirement



If you retire at 55 with RM 149,000, this falls to RM 620 a month over the next 20 years.

Enough to rent a small room and buy ONE decent meal, hopefully.


Those people with RM 23,000 will have only RM 95 every month.



This post has been edited by Tham: Mar 5 2019, 04:25 PM

I was at the Shah Alam branch yesterday.

Mr Iskandar was there, but he was quite busy with
other members.

Since I also wanted to bank in back a little excess (which
was actually the dividend portion) of what they send me
every month, he directed me to the first floor, which is the collection counter for self-contributions.

One of the women officers there confirmed -

Pure self-contributions from nonemployees are
subject to the RM 60,000 limit. (Form 6A)

For employees, monthly contributions above the 11 percent
rate have no limit (Form 17)

Same for the employer's portion.

The employee may also bank in extra as and when he wishes,
but this would be considered self-contribution and will be
subject to the RM 60,000 limit.


I filled in Form 6A when giving my bank draft to the counter.

As given here, you can walk in to these agent banks
anytime to bank in .

Remember your EPF number as you need to fill it in the
payment forms.


Bank Agent Counter;

Maybank Berhad;
Public Bank;
RHB BANK;
Bank Simpanan Nasional



If you have an account at these banks, then you can
also do online transfer.


Internet Banking (Form not required)

Maybank Berhad;
Public Bank;
CIMB
Kuwait Finance House



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

I believe you have to be contributing under the
1Malaysia Retirement Scheme, as started by Najib's
Administration, in order to qualify for the $250, not just
self-contributing to your account without registering for it.

Go see an advisor at any of the EPF offices
and sort this out with them.

Freelancers will have little savings when they retire.


http://www.mef.org.my/MEFITN/MR190515a.pdf