https://apdib.com/

Thanks, good info. I also saw you post in some others topics as well. I think it's best you start a new thread to share your products and offerings as this thread is about EPF self-contribution info.

Hi. I used to contribute under the i-saraan scheme but when I login to i-Akaun today for a year-end checkup, I saw the i-saraan registration tab in the homepage which was absent in previous logins.



Does that mean my i-saraan membership has "expired" and I need to reregister?

Thanks for info.

Will i-saraan continue as usual? I can't find this info anywhere in budget-related news sites.

Thanks ladies and gentlemen.

Ok confirmed in the official document, but only extended for 1 year it seems.

https://budget.mof.gov.my/pdf/belanjawan202...-touchpoint.pdf (page 40/44)



This post has been edited by TOS: Feb 24 2023, 06:52 PM

That can be a sign that government wants EPF to absorb more GII and MGS issues, if you read it from another perspective.

Ok to clarify things: https://budget.mof.gov.my/en/

There are 2 important documents: speech and touchpoint. The 2 documents are supposed to convey the same information, with the touchpoint being the more simplified version without those bells and whistles.



I saw i-saraan (250-300) listed in both the speech and touchpoint documents, but no mention of 100k limit for voluntary contribution in the speech document (it's mentioned in the touchpoint document however).

Use your browser's Ctrl+F search function for keywords like "KWSP", "i-saraan" etc. will help.

100k limit is not mentioned in EPF's official response to the budget too.

https://www.kwsp.gov.my/en/web/guest/w/budg...-infrastructure

So I should wait until bajet passed and EPF act amended then only I can contribute under i-saraan for 2023?

Not in Malaysia at the moment...

I see.

I notice the i-saraan description is missing from the official EPF page (it used to be under "Voluntary Contribution"). So as i-Suri.

https://www.kwsp.gov.my/member/contribution

But when I login to my CIMB account and select "EPF/KWSP Transfer", the i-Saraan/i-Suri option is still available.



Kind of confusing people...

This post has been edited by TOS: Mar 4 2023, 07:27 PM

Just to update you guys. i-saraan is accepted at the moment. I sold 2k ASM1 a few days ago and deposited it into EPF under i-saraan contribution and the contribution is reflected on the system today.

Oh, they say so... Need to prepare another 2k then...

See frankliew's post above.

This post has been edited by TOS: Mar 8 2023, 02:13 PM

For those of you who are wondering whether you are entitled to receive the 300 MYR incentive by contributing under i-saraan this year before budget 2023 was passed:

It doesn't matter. But if you are aware of the time value of money and the way EPF computes the dividend distribution, you should deposit as early as possible.

We are in a high interest rate environment now. It pays to save. More so if you save early.

I don't know much about house mortgage stuff, still learning, so can't comment much.

With my limited knowledge... I am not sure if interest rate of 3.97% p.a. is floating or fixed. If it is floating and your view is that interest rate will spike further, then it's best to pay off your loans as soon as possible. If it's fixed, your are immune to rate fluctuations.

But debt is debt. Floating or fixed, you still owe the bank money. To pursue a debt-free FIRE status, it's always good to pay off your debt as soon as possible, more so if your current income/career is unstable/at risk (don't know about your condition, just a hypothetical situation). Housing loans, if I recalled correctly, can be paid off earlier to save on interests (unlike a car's hire purchase).

As for investment in EPF/ASNB, if you can save extra after paying for the monthly mortgage payment, then yes, go for it. Just be mindful of liquidity and other important investment-related risks.

-------------------

It's best to start a separate thread on mortgage issues. Other experts here will advise you better.

This post has been edited by TOS: Apr 29 2023, 10:31 PM

I told EPF officers I help my mother do housework, get paid some small mount of money per month, straightaway can open EPF account liao

In theory, every high school student above age 14 (legal working age) can open EPF account using the same reason: help mom do housework, so got "stipend".

What trolling lol

I opened my EPF account just shortly after my 20th birthday.

Not yet working back then, and just months before I go to HK for my BSc study.



Counter officer confirmed that 14 years old is the starting age. Now I think it's 15 years old: https://vulcanpost.com/823048/child-entrepr...legal-malaysia/

Has anyone received their RM 300 i-saraan contribution from government? It's almost end of September...

Looks like government is really short of money...