no worries.

I used Wedchar2912 method, my deposit yesterday already reflected under Withdrawal Eligibility already. Afternoon check still not reflected.

If you're employer, you can deposit with FPX. Personally, I think they are limiting the options for non-statutory deposits because their fund size is too big. They provide you options to buy trust funds etc to reduce their load.

This post has been edited by beLIEve: Jan 31 2020, 10:49 PM

Thanks for replying me at 4 a.m. in the morning.


Precious info. Thanks a lot. So, it will be better to deposit (self-contribute) towards the end of the month rather than at the beginning since I can park my money in a money market fund to earn extra interest, right?

This post has been edited by TOS: Jan 31 2020, 11:38 PM

No problem. Was searching for some earlier posts and saw your post.

I guess so. at least, don't contribute too early.

But if this is the case, wouldn't EPF expect sudden surge in inflow of cash towards the end of the month? If they want to make their cash flow smoother, I guess a daily accrued compounding interest dividend calculation would help. That way, people would contribute only when they feel they have to but not "stockpile" the cash and only release them to EPF at the end of the month.

Maybe the calculation is too tedious for them.

So, for ASNB FP fund it is the first day of each month for extra one month dividend, whereas for EPF it is towards the end of the month. Well timing indeed.

Not many would self contribute to get their money locked for years, so the time of deposit doesn't really matter for now. Employers don't care since it's not their money.

Not really extra month. They differ by 1 day only. Just think this way - some companies pay salary on last week of the month. Dump salary into EPF or ASN, you still get the same number of months. There is only difference if a company pay salary on last day of the month.

On the other hand, when you withdraw, you get prorated until the day before you withdraw from EPF and don't have to spend hours to hunt for units.

Millions of new Malaysian EPF depositors started to enjoy lower earnings from PLUS starting Saturday (Feb 1)

This post has been edited by beLIEve: Feb 1 2020, 12:51 PM

Ah yes, right. Thanks for the clarification.

Hello, can i create an epf account myself? (am a freelance for a long time)

What are the benefit of epf when self contributing?

Are there any other better way to "self contribute" (dunno better wording; for enjoying dividend or even just for saving that grows) other than epf (employed/freelance)?

Thanks!

Yes, I self-contribute under the i-saraan scheme. You can read up on the different ways to self-contribute at the link below.

https://www.kwsp.gov.my/en/member/contribution/i-saraan

i-saraan was meant for those who are self-employeed, including freelancer. One of the main perks is the 15% bonus (up to 250 MYR) given by the government till 2022 for those who contributed under the i-saraan scheme.

As for other ways to self-contribute, I can think of PRS (Private Retirement Schemes) and your own investment across various asset classes through different means such as unit trusts, ASNB fixed price funds, or direct exposure to stock, bonds or derivative products. Other gurus will be able to provide more info on the relevant investment products available out there.

interesting concerns,....thus I googled and found this....

‘PLUS concession restructuring entails RM7.5b securitisation’

"To make up for the shortfall of toll collection from the 18% rate cut, the government will step in to guarantee the concessionaire’s debts amounting to approximately RM22 billion, on top of RM13 billion that it has already guaranteed.

The government’s fresh guarantee will help PLUS to reduce borrowing costs as well as enable it to free up cash that is required to maintain PLUS’ AAA bond rating.

........A source noted that this structure saves the government billions on compensation.
The restructuring exercise also allows the authorities to cut toll rates without breaching its covenant with bondholders. Should the annual traffic growth exceed 1%, being the SPV owner, the government will gain from the additional toll collection.
With the extra money, the government will have the option to either reduce toll rate further or shorten the concession period".
https://www.theedgemarkets.com/article/plus...-securitisation

First paragraph - reduced borrowing cost higher or lower than 18% tol income?

Second paragraph - maybe it will benefit EPF. not an expert, but a lot of projections in old and new Malaysia are off by a whole lot.

Do we need to fill up any form for self-contribution or top-up?

Do use the e-transaction function on Public Bank, CIMB or Maybank.

may i know how long u wait? i wait for 5 working days still not yet show up in my epf account

u need to wait till epf declare dividend then it will show online

Ok. Thanks.
Same as epf reply me through email. Send an enquiry, received reply within 15 mins. Super fast.

When will the 15% insentive of i-saraan be credited to the account?

How does the government credit the contribution to member’s account?
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' Account 1 (Retirement Account).
https://www.kwsp.gov.my/member/contribution/i-saraan

Last year I got it in Aug

Just login to epf online and look at the withdrawal eligibility... you will find your actual amount from there instead of wait till declare dividend