not so stupid question - can we request our majikan to potong like 25% instead of 13% from our salary for EPF contribution? Since i am 51 right now i want to force myself to save more. any idea?

In order not to burden HR, deswai we got self contribution, i think.
Anway, is there a limit on this potong of 25% instead of statutory 12/13%?

let hr do it... their job

no limit... but keep tax in mind tax...

thanks for answering my not so stupid question of potong more than 13%. As my age is catching up i am slowly moving my FD and ASM into EPF.

2024 - 51 years old to max RM100k as not going to renew my FD but anything mature will go into EPF an continue to buy ASM for any left over. Will no longer be keeping FD anymore this year

2025 - 52 years old to start selling my ASM and move to EPF and will also MAX out 100k and this is where i will start to ask HR to deduct 25% of my salary to EPF

2026 - 53 years old continue to sell ASM and Max out 100k and increase EPF contribution to 35% and by my own calculation this is the year where i should hit RM1.0 Million. If anything emergency i still can withdraw from EPF for anything about 1.0M and sell more ASM if needed

2027 - 54 years old, continue to sell ASM and max out 100k and continue with 35% of salary deduction

2028 - 55 years old is when i retire and i dont think i will have income and i should be sitting with about 1.3 milion to live out whatever life i have and if company dont fire me i will still work and accumulate EPF. this is the year also my housing loan should be cleared.

i did not make it in life and i dont think 1.3 million is going to make me rich, all i am hoping for is that it can last me for 25 years assuming that i live till 80 years old

1.3million with assumption of 5.5% dividend i will have about 6k per month to support my family. good luck to me

i am hoping to get up to 1.5M to 2M if possible but i dont think is  possible

anyone here know how is life when stop working? I am a little scare... is just 4 years away...

retirement age is 60 but with how my company is operating and old ppl salary getting higher they already have plans to ask me to stop working
but i die die also dont want to care...
they did hinted that max is 55 but i still dont care and ignore saja if can work i will still work and put food on the table for my family
stop working with no income means and we have to think many many times before we can spend on something
i am not rich and i am consider M40

6k per month for family is not adequate. Try to push retrement to 60 years. The last 10 years of working life is where most people savings went up,

Upon retirement, first few years spending will go thru the roof. And it must be asked whether you intend to go for frequent holidays ?

See Singapore as example...

Even with their EPF, still continue working...

Not surprised to see 70yo or even 80yo active working 🔥💪

I would say different mentality and lifestyle. SG is like HK. HDB is small and facing four walls. Everyone is busy chasing time and money. So elder folks will work in food court / McD / cleaning trays and tables, for example.

Here ? The elder folks prefer sit at home under air cond and watch astro / tv box / auntie liew cooking go travel.
Or just hang around do nothing / sleep / gardening.
You try ask how many old folks want to work in McD/KFC clean tables / toilet, although I see a few here and there.
Even their children will think no-face if friends/relatives see their parents working in such jobs and children will give money and ask them sit at home.

under profile

credit to bro ronnie

You try go website n download 2024 statement. Mine shows this

I just checked my epf via new iAkaun app,

when i clicked on HOME > Voluntary Contribution View Details, it showed the rm2000 deposited on 31Jan counted in January Total.



when i clicked on SAVINGS > Simpanan Konvensional View
Details, it showed the rm2000 deposited on 31Jan counted in February Total.



To play safe use T+1.

Not sure because I don't know anyone still self contribute after 70yo...

All withdraw party or monthly enjoying their life / EPF money. Or  under 6ft already 😁

No offence to you but I've just realized that we could deposit straight from kwsp portal, but how come I don't see ppl recommend this way?

I've deposited rm100 from M2U selecting i-saraan but end up above?

not smart enough or EPF does not want you to treat as CASA

last I checked still have, intend to continue so this year too

So far I remember correctly... If gomen didn't U turn...

Still got for YA 2024 👌

ER is tax deductible, i always pay 19%, if you do the maths i actually save more on taxes....

msia corporate 24% is so painful... plus monthly cp204 lagi painful.

thats why my main corp is based in HKG.

instead of saying SKIM, mine says PRODUCT

both same kan?

thanks.

Hopefully those don't want, can opt out... By filling up some forms.... Like the previous reducing of employees contribution rates.... Fill up form to maintain the rates...

Another day to go....

I really hope account 3 is not mandatory... Meaning can opt out with filling up some forms available at office or online 🙏

I want status quo...

The previous 4x EPF withdrawal...

Only the first one actually put food on table... Seriously it's for survival purposes 👍

But the others 3x is just purely for lavish spending... From new phone, cars, motor or even jewelry

So basically this new account 3 would ended up with the same results... Unnecessary spending...