This post has been edited by MUM: Feb 24 2020, 05:18 AM

hhm...i the top-up still not reflected on my account today......

so i sent an enquiry form to EPF...hopefully will get answer soon

I, on the other hand, got more money than calculated using the EPF calculator! So, sent an email to them to ask for correct computations of dividend.

Ok, KLCI dropped more than 40 points now, below 1490.

This post has been edited by TOS: Feb 24 2020, 02:49 PM

Thanks MUM for pointing out. But just to be sure, I did read all 16 pages before posting. The post 128 I think only applies to online transfer.

Anyway I just called up EPF and got the answers.

Not sure why so much calculation on the way dividend/interest works in this forum. Like if I deposit 5th Mar, I will only get dividend from April onwards etc. Maybe I interpreted the posts wrongly. According to the agent I spoke to, interests are calculated daily. So it doesn't matter which day I put in, it will start calculating interest after my i-akuan reflects the amount in.

1. For i-saraan, you have to go to EPF counter to register first and need to wait until it takes effect (5 to 6 working days). Put in 1800 and you will get the govt 250 max. If you never register and try to do online transfer over, according to the agent it will still be put into the i-saraan account 1 but govt will not give you the 15%. A bit troublesome but now still left 3 years unless govt change it again.

2. Only certain banks allow i-saraan online transfer. You can technically do a self contribution of 58k conventional and 2k i-saraan (after register and approval) to get the govt 15%.

All in all quite troublesome, you still need to go down to epf to do this, but 3 years of rm750. Hope this makes sense.

For dividend calculations, I suspect that the calculations of dividends for i-saraan members are different from those calculated through online calculators. Not sure if you can verify this, but I have emailed EPF this afternoon to ask for a detailed explanation of dividend calculations.

By the way, "Like if I deposit 5th Mar, I will only get dividend from April onwards etc." this is indeed what online EPF calculators do, and I also get the same answer when I calculate according to this formula manually. But for my case, I got more dividend instead.

As for days to wait till it takes effect, I think it is not as long as 5-6 working days. For my case, if memory serves, it can be done within 24 hours (just wait for the system to update overnight). Actually, just contribute 1667 will do, no need to contribute more than that amount if your aim is the 250 government incentive.

3 year 750 is worthwhile for me, after deducting transportation cost, and some waiting time to subscribe to i-saraan. (Maybe my house is near to an EPF office.)

last time i deposit 10k . from maybank. took 3 working days to reflect in epf account

sorry if this Q's were raised before.

1. For self contribution, is it parked under account 1, 2 or spread as per the standard ratio (70/30)?

2. Withdrawal from contributors who has more than RM1mil, withdrawal is from which account? Again account 1, 2, or standard ratio applies?

Thanks.

1. Standard ratio.
2. Account 2.

but when i checked mine rm10 (test topup):
1. all under acc #2 (self)
2. acc #2 as well

u r lucky to get all in ac2 coz ac2 can get easier withdrawal.

Try bigger sum and you'll see 😅

is there a way to withdraw monthly .....like salary ?

Upon reaching age 55, our members officially enter retirement age.
After years of growing your retirement savings, you now have the choice of how you want to manage your retirement funds, either to make a full withdrawal or flexible withdrawal.

Monthly Payment Withdrawal
(Min. RM100/month or RM1,200/year for at least 12 months or until age 100)
https://www.kwsp.gov.my/member/withdrawals/full/age-55-60

thank you

thanks for the replies.

so assuming if one does have more than RM1mil in epf, and he/she chooses to carry out self contribution of RM60k max, potential downside may be withdrawal of the self contribution amount may be capped to 30% of it in account 2 only if the self contribution is deposited and spread as per the ratio.
whatever self contribution that lands in account 1 will be permanent until the age limit is achieved, right?

i have yet to test with big amount self-contribution...will see what is the ratio

having said that, if you check under "withdrawal eligibility", it shows anything excess of 1 mil can be withdrawn, i.e regardless which account (1 or 2)...as long as it's extra money > 1 mil, it can be withdrawn at will (based on my understanding)

but i may be wrong...any sifu here has tried withdrawing the excess money > 1 mil ? issit only limited to acc #2 ?

This post has been edited by lyc1982: Feb 27 2020, 10:40 AM

This is an old article which says that withdrawals will be made from Account 2 first, and once that is depleted, then only from Account 1.
https://www.theborneopost.com/2012/03/21/ho...an-rm1-million/

Some of the info here is outdated already, so not sure if it still holds true.

If i am a employee with epf,
still can i still open i saraan and get 15%?

while waiting for responses, you can try read page 7, post 135 by Birdman....
then read replies and counter posts following that discussions.

This post has been edited by MUM: Feb 29 2020, 05:39 PM

dont think so..

saraan is only applicable for self-contributor