I forgot one point above. There is still the yearly 60k EPF top-up that you can do. So if you can't even fill up the 60k/year, no need 17A. Just keep your cash liquid.

Yes, can go up all the way to 90% or somewhere there (just check is 89%). Doesn't sound right but yes can do that. Some may have sugar mommy/daddy that don't need to touch the monthly salary But reasonably, normally range around 15-30%
Singapore employee CPF is around 20% while our EPF is 11%

Keep it up bro ! Motivate each another

Why I say IBG cause it takes few working days for 2nd online withdrawal and subsequent ones to show in my savings account. It's not IFT/DuitNow immediate within the same day.

Correct. I recall it must be submitted by the Employer HR dept. You cannot submit Form 17A on your own directly to EPF, as it needs HR signature/chop or something.

Decades. How old am I ? Look at my LYN ID joined date. But I'm still young, ok ? Not yet 55 . Everyone starts at the same starting point. My official first EPF monthly is just 1-2 hundred every month, basic salary only 1.5k. At that time, one full year employee + employer contribution is less that my current one month 13+11% contribution. Just continue to improve, grow, bla bla bla (motivation talk) to uplift ownself. I'm not the cream of the crop or the top performers, but just stay on the above-average and I think I'm on the right track.

Everyone journey is different. This EPF is an analogy of marathon 42 years. Not a 2km sprint. For the first 10 years of my EPF, I see nothing from my EPF, still below 100k. But from there onwards, the topup+compounding is much faster. 100->200->400->600->800->1M
That is why I understand the desire to withdraw when have <100k EPF, cause year in year out, dividend 6% p.a. still see nothing.

Before I start working decades ago, I've been hearing grand father stories about EPF collapse, no money, better withdraw all, etc. year by year, decades by decades. Even today, still hearing people talk the same thing. I'm the only stupid one among all friends (as they label me) that put in more into EPF decades ago consistently and here I am today as a proof. Anyway, I don't know the future, Malaysia could turn into Zimbabwe and I could be the real stupid one by then. But is ok, I've other diversified investment to help out but that is beyond this thread EPF discussion.

Whether 60k self contribute or Form 17A additional employee %, it is same. Split 70:30 Account 1 and 2
How I know ? I track in my own excel calculation on annual EPF total and dividend for both my account 1 and 2

Even before 55 also can take out for fund investment, studies, house, some serious sickness, etc.



Tonight very free reply you all. Tomorrow no need work (employee). KL holiday

Bonus:

You meant if I can't even fill up the 60k/year, then it is no point to put money into EPF? Why?

No, I mean if can't fill up the 60k/year, then no need deduct more than the standard 11% employee using Form 17A. This is to keep your cash liquidity options more open until year end (or early of next year) to bulk deposit up to the 60k limit.
Or you can even do monthly or quarterly deposit to utilize the 60k/year.

Perhaps another method is to deduct monthly >11% using Form 17A. Then perhaps year end get big bonus and can utilize the 60k/year to dump in additional income.

Like I say above, everyone's journey is different.

This is new to me, missed this despite reading through the EPF website.

Say, if exxeeded RM1 mil before 55, can take out and put back? Say I already top up max RM60k early in the year, then 3 months later withdraw 20k, then 8 months later can I put back this 20k???

This post has been edited by CommodoreAmiga: Feb 1 2023, 08:44 AM

Cannot

https://www.kwsp.gov.my/member/withdrawals/partial/age-50

Haiya.😅

I think they impose these rules to prevent cuci duit

Unker Baek orangnya, no cuci Duit. Unker only cuci Duit from bank to bank to make "fresh fund" for FD promo. Absolutely Halal!!!!

Thanks for the information. I guess we are around the same age, but you are way more loaded than I am

Oh i see I see. At least now I got a better picture to make decision

while waiting for responses,.

you may try this for for added info while you wait.

Self Contribution
Who Can Apply
https://www.kwsp.gov.my/member/contribution...20EPF%20members.

for my case..

i deposit RM1200 between July 2021 - Dec 2021.. i got RM180 isaraan in Mar 2022

and RM1600 between Jan 2022 - Jun 2022.. i got RM240 isaraan in Sept 2022

does that mean..

if i deposit RM1667 from July 2022 - Dec 2022.. i will get RM250 in Mar 2023?

and if i deposit another RM1667 from Jan 2023 - Jun 2023.. i will get another RM250 in Sept 2023?

if so, isn't the 15% (or RM250) applicable as half-yearly instead of per annum?

Q: How is the government contribution made to members account?
A: The EPF will routinely make Government contribution claims based on accumulated contribution for the first (January to June) and second (July to December) halves of the year.
Upon receiving the contribution payment from the Government, the amount will be credited into members’ Ac 1 (Retirement Account).

https://mypf.my/investing/retire/sp1m/

It's per year lah. First time you deposit 2nd half of the year, hen e get it next year. Subsequent year you deposit first half of the time year hence you get it in the same 2nd half of the year.

This post has been edited by CommodoreAmiga: Feb 7 2023, 04:20 PM

i see..

in short, in order to always get the max RM250, is it i'll need to deposit a total of RM1667 from Jan-Jun and then another RM1667 from Jul-Dec?

If you already deposited max 1667 from Jan -Jun. Your contribution from Jul-Dec will get you nothing. Aiyo, already said max RM250 mah.You can deposit RM1K in Jan-Jun, get RM150. Then deposit RM50k in Jul-Dec, you will get the remaining RM100.

ohh, now it clarifies..

meaning for my deposit from Jul 2022 - Dec 2022, i will only get the remaining RM10 in Mar 2023 right?