That comment from 2018 is wrong.

EPF pays dividend until you are 100. Likely you die first Unless you have injected yourself with the Madey vaccine.

or if your EPF is is around 700-800k I think can start already max self-contribution since >RM1mil can withdraw

Didnt read thru all the posts but

Never had an issue on withdrawal. Fast and efficient

I assume self contribution is calculated based on pro-rated ?

If put in now (March) .... its calculated 10 months ? Or by days divide by 365 ?

hmm

Doesn't matter, just dump in.

If I put 60k in July 2022, do I have to wait until July 2023 before I can put again or Jan 2023?

This post has been edited by N9484640: Mar 4 2022, 05:59 PM

should be Jan 2023...goes by calendar year...

thanks,

how to withdraw past 1million?

need to apply every time need to withdraw?

good point also. somehow they position their fund akin to EPF. can't withdraw until 55

https://www.kwsp.gov.my/en/member/withdrawa...rm1mill-savings

1 million

still quite far away

But financially speaking, since if you load up on EPF early you would get more interest over time.
Wouldnt it be better if you put more in the beginning?

Personally since I started working at 25, eventhoug I get the normal employee+employer contribution but yearly 15% annual salary self contribution.

Now at 32, my dividend from EPF is double my peers.

You did good, I wish I had the insight to contribute more when I was younger. But there are more employers these days opting for contract work which they don't have to pay EPF. I think this is the loophole the government should look into. I was in such employment for few years.



The compounding interest from EPF will work its magic once you reach a certain threshold.

I would say when it reaches 500K, you will really see it getting very significant.

Last time got irresponsible politicians saying EPF will bankrupt and some stupid people rush to withdraw their EPF money

There are pros and cons with everything. You contribute more early, when your financial is not strong yet, where are you going to get money if you need it? Also, for young people, it's better to invest in more aggressive growth vehicles. Because you have time on your side. Once you grow older, achieve your targets, you can be less agressive and put more into EPF and FDs. When near retirement, it's time to protect capital at all costs. And EPF will beat FDs by almost 3 times. Besides, you will be able to access it soon once hits 55.

But of course provided the above goes according to plan. Example if you all in Bitcoin and Bitcoin collapse tomorrow, you might not achieve what you want by 55 and may not have extra money to throw into EPF.

So it all depends on your condition.

There is a school of thought that says you should invest X(Agressive):Y(Conservative) ratio according to your age.

X=100 - your age. Example, if you are 25, you can invest 75% in Agressive growth and 25% in conservative instruments.

But of course, this is just a general rule and your personal situation should be taken into account.

He is pointing out nearing age 55, which means he is talking about liquidity.

lul... then what is the point of all this money if cant spend

As long you live got free money lor, fair what.

Yeah I had it easy, stayed with my parents until I got my own house.
There was an 10 year old spare family car for me to drive so I didn't have to get a car.
Didn't have a "baller" life. Hopefully it's enough for later. Don't want to work till I'm 60.
I'm calling it quits around 50 ish haha

Yeah I mean based on cumulative interest, it would have been better to add smaller amounts in the beginning rather than maxing out 60k self contribution later on in life.