It is high time for epf to use fpx for members to deposit funds.

Sspn is using fpx and transaction immediately updated.

Asnb is using fpx and transaction immediately updated.

What about you, EPF, being the biggest fund in Malaysia?

They are always the slowest adopters of latest features.

great suggestion on the “Withdrawal Eligibility” hack! have confirmed mine as well 🙏

Actually if u think carefully, it only limited ppl doing self contribution. Furthermore, not all of them using fpx. It might no worth the money spend (our money afterall) for such system enhancement. Existing channels are pretty sufficient to serve the need.

However, do agreed that their statements system should be enhanced. Its confusing and wander why they freeze the statement update till dividend being declared. The laps is a month plus!

Whilst i agree its only limited ppl doing self contribution, i dont agree with not spending money for system enhancement. Now payment gateway is so common and cheap not to mention Epf is managing hundreds of billions worth of fund. If Epf can loan RM200million to 1mdb easily, what is spending RM50k for upgrading systems?

Don't get me wrong. Spend money on important area and priorities stuff like statement enhancement. Fpx is pretty complicated by its design and outdated from technology perspective actually. Ppl shall more toward more elegant approach. On another front, abit out topic, do check who owned the fpx. Hehehe, why banks forced to support it.

50k u can buy a nuts only . System vendor will as much more for such enhancement.

I'm not talking about upgrading the whole system. Im talking about designing a webpage that able to accept payment gateway such as fpx etc. You can check the iwk website how many types of payment they accept.

You talk about current channels are sufficient but do you actually know how many local banks that can make EPF self contributions? Do you think it's really sufficient?

50k is not enough for fpx upgrade. U may check with any folk in IT line. Cease my case here as it way off topics. Just diff views and there is no absolute 'right' here.

I see some of you put in the annual limit of RM60k self contribution.... why would you lock up the funds till age 55??? Even though the return is high...

read before,...some has extra cash, some are nearer to age 55, some wanted the rate as it is easier than ASNB FP funds.

Unless close to age 55.... I think might as well put into stocks or if conservative just roll the FDs...

They say money is not really yours if it is not within your control now, and by that definition , EPF is not your money yet.... furthermore, rules might change to delay to 60 and beyond ( very likely) or to allow only staggered withdrawals ... u might never see the money in lump sum again... just voicing out my concerns for others to consider ...

different people has different views, different opinions and thinking....
some would also argue that 2% different (between EPF n FD) if rolled will snow balled will lead to a bigger numbers
some would argue that stock is much riskier than EPF
some would argue that EPF has already the age 60 rules in place.
different people has different views, different opinions and thinking....

This is just like saying “EPF will bankrupt”. Fairly certain everyone will get their money when they reached a certain age (be it 55 or even 65).

The main purpose of EPF is compounding interest no? Honestly I don’t see how that’s a problem since u would need to hold a stock for a damn long ass time for compounding dividend which would be the same as putting money in EPF and waiting till 55 or 65

I would say, don't sai lang all surplus cash into ONE source of place to generate passive returns....this is especially important if it has lock in period. As this would lock your much needed cash in times of needs,....like during lost of jobs, failing business and etc etc...
just have it moderately, have some of it here and there.....

This is not saying EPF will bankrupt.. if EPF bankrupt, then stocks in Malaysia will be much worse.

The diff between holding stocks vs EPF is liquidity.. in times of need , you have access to funds immediately ..

An extreme example is if you are dying in a years time , u can liquidate your stocks and spend the money the way u want ... not with EPF, it will be locked up and then your beneficiary can spend..

A less extreme example ... 10 years down the road.. u want to migrate... and u need money etc etc...

Basically, u are saying u want to earn extra 2% for giving out a 30 year loan...this loan cannot be terminated prematurely ..

And, even the extra 2% is debatable .... stocks might be able to earn 10% quite easily Over the long term... so, you end up locking yourself up and earn less.... not saying stocks will do better ... but there is a chance it will do better than 6%

I do the 60k self contribution because of diversification. I have some money in KLSE, FD, bonds and bank structured products.

I tried ASNB FP funds, entering captca is a pain in the butt.

Diversification is ok I guess but not too much cos employees are naturally contributing already.

Liquidity is no problem. Am at a level where xx amount above base level, can be withdrawn anytime. As long as they dont change the rules😂

That’s the best!

Hi all,

I self-contributed to EPF a few days ago (in year 2020) but the money did not appear in my account after 2-3 days. In fact, upon login to i-akuan, only my account balance till 31 Dec 2019 appears.

If I click on the My Account tab, the contribution for 2020 is unavailable.

Can anyone who contributed early this year confirm this? Thanks