First thing first

Need to see the latest Qtr report of EPF...

From there we somehow can predict the final outcome for year 2023 🔥

Q3 at least 19B to 20B max

Hopefully better than last year one...

So overall can give higher dividends rate 🤑💰

hopefully !!! 6+ possibly

try ah, even if no... they will keep that as a reminder when posting epf stats....

also nice if they show max 60k contribution

wow, porsche boxster!


a def 6% min for me.

Yup.
Hoping for them to give me 6% too... If possible 😁

I expect at least a 6.xx+ next February...

Yes. They get one pension scheme for every position they hold.

Example, Ahli DUN who is also a minister get 2 pension

Just serve 1 term. (Based on info from Syed Saddiq video)

Ho sei



This post has been edited by boyboycute: Nov 17 2023, 09:39 AM

Is there any change to the i-saraan scheme announced in Budget 2024?

https://www.sinchew.com.my/news/20231120/nation/5141182

Seems like now there is a matching sum of 500 MYR instead of 300 MYR but now there is an additional maximum "lifetime" limit of 5000 MYR.

Previously I only recall a raise of matching sum from 250 to 300 MYR.

This post has been edited by TOS: Nov 20 2023, 11:43 PM

https://www.thestar.com.my/news/nation/2023...rm10000-savings

KUALA LUMPUR: The issue of insufficient savings in the Employees Provident Fund (EPF) is at a serious level, with 6.3 million members under the age of 55, or 48%, having less than RM10,000 in their accounts as of Sept 30, says the Finance Ministry.

In a written reply posted on the Parliament website on Monday (Nov 20), the ministry said the figure rose from 4.7 million members (37%) recorded in April 2020, before the introduction of Covid-19-related special withdrawals.

"With savings of less than RM10,000, members are expected to have a retirement income of less than RM42 per month for a period of 20 years.

"The additional withdrawals from Account 1 also have a long-term effect, namely a significant reduction in retirement savings among EPF members," it said in response to a question raised by Zulkifli Ismail (Perikatan Nasional-Jasin) on the government's initiative to address the issue of insufficient retirement savings among the people, compounded by the large informal sector in Malaysia and a higher dependency ratio.

The ministry said the issue is taken seriously, especially considering that the country is facing a rapidly ageing population which is expected to have a significant impact on the nation and people in terms of the economy, productivity, social welfare, quality of life and health.

The government announced in Budget 2024 an increase in the matching grant limit under the i-Saraan programme from RM300 to RM500 per year, subject to a maximum limit of RM5,000 for each eligible individual throughout their lifetime. – Bernama

Matching grant will only benefits those who contribute and again it does not solve the overall issue
there are so many ppl who has EPF account while they were still working then suddenly they become boss or turn to a gig economy to generate income
this ppl earn like crazy money and they dont even bother to put into EPF
the number 6.3 million members if we take active monthly contirbuting members maybe the number will drop to just 2 million or even lesser
----------------
this was from Last year (sos - https://www.thestar.com.my/news/nation/2023...rement%20fund.)

As off Dec 2022 - EPF had 15.72 million members, with slightly more than half of them classified as active members.

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so base on the above if we just assume 15.73 million members and slightly more than half is active means 8 million active members
If 8 million active members is not possible to generate 6.3 million members under age 55 to have less than RM10k
conclusion - the numbers is correct as this is table in parliment but they never report out the details behind the numbers especially active vs inactive members

The narrative the gov put out is just ridiculous - we must read between the lines.

This post has been edited by virtualgay: Nov 21 2023, 01:48 PM

kasi chance la. this story is mainly for B40. gotta counter stupid PN in a way.

from 300 to 500... good

BUT current rm300 for Jan - June still not in at those qualified i-saraan members which normally in around Sept each year... Now already near ending Nov going to Dec already....

Hey Sifu,

Would just like to confirm, 'Self-contribution' and 'i-Sarran' are two different things?

Let's say my friend interested to put into self-contribution;
Is it just another account that follows the annual EPF return rate?

If my friend is an employee and age 58, will he be able to self-contribute?

Just require some clarification since I saw some saying it is only eligible for non-employee and self-contribution is related to unit trust instead of EPF return rate.

I-saraan RM300 has been deposited into our epf account

finally

AFTER SO LONG WAIT

Yes, I got for my son also. Lump sum RM300 at one go, wonderful!!!