Does this 60k limit include our mandatory contributions?

Or is mandatory contributions considered separate from voluntary self-contributions?

One million in EPF is a good point to retire whatever age you're at. The 50-60k++ dividend is enough for you to live off at about RM5k or so of nett, tax free, spending money a month... especially if you have no commitments.
If you hit that at age 55, good. If you hit at age 45, great.

It's not a luxurious living but can retire and do what you really love and really get to live your life, your way. Not bad right?

If contribution amount not credited on 1st of the month u lose 1 month dividend.
I always transfer at d end of the month.

For me i would put 60k in high interest CASA n transfer to epf at d end of the month. 60000x2%x27days/365days=rm88.

I put in on Saturday night. Not yet reflected. But historically earlier people reported it takes 1 day. Maybe the dividend payout period caused some delays.

See the title already boiling mad
https://www.freemalaysiatoday.com/category/...members-richer/

Yeah. I am just checking because my transfer made on 2nd March is still not reflected. Would like to see if it is EPF problem or my CIMB Clicks problem.

My mum got a bit of money in FD, i wonder if i shall ask her to withdraw all the money and then deposit into EPF.

I also never thought about this. She often troubles herself to move the money around different banks for FD.

Most likely dun have an existing EPF account

Yea, may need to run to their office once. You also plan to do it for your parent?

If you did go to epf to ask, please give us an update

Haha okie, can. Will update here.

How come self contribution missing? This is also something I scared because my parent not IT savvy etc, if anything went wrong they may not notice it 🥲

Thank you so much for the additional details. I will pm their fb and ask about it 😆

My parents not rich either but this consider as their little bit of last saving that’s it. And I also don’t want them to keep going to banks by banks at such old age

noted. so in order to do self contribution do i need to fill up any forms or can i just transfer the money to my existing account through online?

hi all, just registered for an epf account and i-saraan online yesterday. today i may my first transfer through online cimb clicks. normally how long to see the balance reflected on the kwsp mobile app? worried that i transfer wrong or didnt go in the right account....

thanks sifus

I just give a call to EPF, yes, we can open a normal conventional account for our mum on behalf, however there is a caveat, as long as your parent is below age 75, still can open account, but once passed 75, no longer can deposit money, can only maintain the account and withdraw the money.

And it is recommended to use e-banking to perform contribution to EPF, because over the counter, they have limited up to RM 500 maximum to deposit.

haha, i need to reiterates again, because I may convey the message well enough. <75 years old age, can open EPF account, deposit any amount <60k per annum and make full withdrawal anytime. Once >75 years old, no longer can open EPF account or make any deposit into the existing EPF account. But can still maintain the existing EPF account, and can only make withdrawals.
Oh make sense. Good guess.

Just wanted to know is this true?

I told someone this idea and he told me that he hasn’t been honestly declaring his income to LHDN. If he contribute to EPF, later Kena LHDN flagged and investigated .

If I put 300k or more into epf this year and wait till next year get dividends
Then apply withdrawal from account 2 boleh?