For self contribution, bear in mind that you can only take it out when you age till 55. The money going to stuck there till you reach the retiring age. Unless you really have extra money, then can self contribute.. max rm60k per year.

I tried equity, didnt monitor much n got burnt, i pump some PRS just to reduce income tax but the PRS going stuck there till 55 n return juat maybe 3-4% pa... UT tried that, also maybe 5% return but will up n down.. still hv risk.. very much depend timing..

Well, i prefer self cobtribute epf to top up my salary monthly contribution, as long as you pump it till more than 1mil, then the self contribution is like different game means you can treat it like a safe no risk good return.

Anyway, just my view

i have been doing self contribution also... for the same reason... of cos i have UT and equity as well... but cannot beat EPF performance and stability so far...

guys.. am contemplating to switch my monthly saving to ASNB into EPF (self contribution)

for easy reference.. say my current EPF is 100k and ASNB is 20k.. lets assume return from both EPF and ASNB is about 5% going forward

and because my EPF fund is higher than ASNB, does it make sense to grow my EPF fund through monthly contribution to maximise the compounding effect?

my understanding is that by switching, the compounding effect can be realise sooner when compare to ASNB where i have to slowly build up from the 20k (and its hard due to the unavailability of units when u want to buy)

anyone know when the Epf dividen will declare?

the EPF will have lock in period...

try to think of it as How much $$ you have now....the compounding effect will be based on the rate of returns X number of years

understand with the lock-in for EPF..

i should mention too this is for long term..

would assume by adding cash into 100k can build-up the fund faster through compounding interest when compare to adding cash to 20K?

just ensure you have enough cash flow for other needs while money in EPF are locked away.

Your Question:
would assume by adding cash into 100k can build-up the fund faster through compounding interest when compare to adding cash to 20K?
if both samples have RM20K at start, for A & B
if you add in RM100k into A, then you will have RM120k x 5% pa X 20 yrs
if you add in RM20k into B, then you will have RM40k X 5% pa X 20 yrs

so which one will have more money in the end?...is this the query you asked?

pardon for the confusion..

i should re-phrase as follow..

if i have 100k in epf to begin with.. and i self contribute 500 every month starting from now for 20 years.. at 5%, i should have more money than if i were to do it with ASNB right? ASNB is only 20k now to begin with

the number of 100k vs 20k variance is too big....
PLUS you add RM500 pm into EPF....
uneducated guess winner is clear...EPF will has more money 20 yrs later

surely EPF will be better instrument to grow your money.

on the assumption , the interest rate for both are the same.

because u are starting off much higher amount and it compounds.

just as per others mentioned, you will not be able to withdraw.

thanks

the big variance is the caused to my confusion.. if it were 100k epf vs 100k asnb, i wouldnt be asking the question in the first place

thank u for the confirmation

u answer exactly to my query

even if there is NO variance...
and because your ASNB rate is NOT much variance with the EPF rate thus if you keep on putting money inside EPF at a rate of RM500pm....(1yr = RM6000) X 20 years = RM120000 extra in EPF over the ASNB....excluding compounded interest.

i never contributed PRS because the money can't be withdrawn until 55yo...so i parked my money elsewhere

if epf is > rm1 mil, the extra money can be withdrawn at any time correct ?

btw...rm60k self contribution, what is the ratio for account 1 and 2 ?

I believe its 70-30

or you can also do lumpsum of RM60k max

EPF dividend 5.45%

sifus sekalian...

need some help, i did a test rm10 top-up with cimbclicks last thursday...

but today i login to kwsp...the detail summary is not showing that rm10 top-up...can advise ?

thnx

It takes 2 working days to appear in your account. Try checking tomorrow.

actually the top-up was done on last wednesday...already been 2 working days

lemme check epf account again tomorrow...

Hi there,

Can I check with the gurus here, this i-sarran needs to be registered? Currently I have an EPF account which I have not used for the last 10 years. If I can do internet banking transfer to EPF with options to i-saraan (eg Maybank), do I still need to print out the form to submit to KWSP office?

Alternatively if I already have EPF account, I do not have to register or submit any forms if I do normal self contribution to EPF via online banking. Am I right? Thanks.

Seems like putting in 60k at end Jan would be the best to get div... Hope I am right.

ps: just checked. Seems CIMB click only allows you to transfer money to EPF account based on Account number. Unless this i-saraan scheme has a different account number?

This post has been edited by joeblow: Feb 24 2020, 03:04 AM