my EPF is around 60% of my total net worth now.

You'll suffer policy risk and uncertainties in your financial plan

At least you are compensated equally and fairly with the risk in bonds and stocks. No sudden U Turn or goalposts movement by politician. It's important to stay diversified as shit flies are circling the honey pot

100k x 10 yrs = 1 mil
500 x 10 yrs = 5k

From age 14 till 24,
1 mil Kena locked for 26 yrs more
Just for the rm5k incentives + annual fixed roi of abt 5.5% pa from age 14 till age 50

Wow!. 👏Papa gives 100k into kids self contribution quota. Kids got free papa money.
Kids self contributions quota full. Kids can put self earned and saved money else where.
Good daddy. 👍

Assets all in MY? Currently I am 100% in MY, thinking of diversify out.

Voluntary contribution is rm3000 maximum to get tax relief right?

Or got people put more than 5 digit self contribute to epf?

just becareful. if u hit 100k self contribution, any withdrawal from EPF will NOT be able to be "refilll". dont ever think of refill, REPLACE back and top up.

ah ok... kinda disappointing if that's the rule... a bit weird as money is fungible...

It also feels like epf is hinting that those who can afford to retire... if you contribute, ur money is stuck...
while those continue working actually cannot afford to retire,and hence the contributions cannot be touched till forced to retire. somemore, official retirement age may change to 65... by then Emas will become Platinum?

Don't be yi san yi kuai / fearmongers / suspicious.

Nothing will change for us old fags, it'll be status quo.
Your money's safe and u will be able to access it macam biasa at 55.

The million ringgit level was there for many years. A million back then was a lot of money.
They are just updating it. The essence still remains if you have a large sum in EPF, you are allowed to withdraw the remainder. The essence is still the same.

From recent statistics. There are about 16.2 mil contributors.only 0.13% have a million or more.
For those about getting there 650k-1mil is 0.15%.
Add both playing in this realm only 0.28%.

Plus those in the million ringgit club would also have a substantial amount outside the EPF ecosystem. They don’t really need the money.
Keep in mind, dividends alone will add 50-60k to their balance every year.

I think they will not increase anymore after the 3 years.

Many presumptions and assumptions.
Let me state my own.

I as a member of this ad hoc club I want my own control. Dividends notwithstanding. Why does EPF feel so obligated to help the 0.13% or supposing easier to count, the 1% who are there because they are able to manage their own finances well anyway.
You think they will not increase anymore, but also state that the 1mil limit was there for a long time. I would interpret this as they used to be consistent and now they aren't. Fact is, anyone who reaches 1mil with the 50-60k dividend a year would've been able to withdraw this dividend without restriction immediately. However, if you set it to 1.3 the same person will have to wait 2-3 years just to withdraw the same 50-60k of dividend. At the same time, a principal amounting 300k has been additionally locked in for 2-3 years. If you can count the opportunity cost it is not a trivial amount, especially to the financially savvy. I am talking about those who just recently attained the 7 figures. Not the 8 figures people who won't care about the 6 figure sums.

By now, everyone should know EPF is a retirement fund. It's not a savings account where you can put in and take out money as you like. There are other avenues for it, it's not EPF.

Yes, EPF allows you to put extra into it, but it's for you to have a better post retirement planning and benefits out of it.

Epf stands for employee provident fund not employee retirement fund.
Even in Malay it is Kumpulan wang Simpanan pekerja not kumpulan wang Persaraan pekerja.

Somehow someone’s liberties have been taken away and those who are not affected have decided it is the victims fault.

I suppose this is the effect of our education system where you are drilled into repeating how great your country is, how wonderful hydroelectric dams are (they aren’t, they only generate less than a small fraction of energy), how our roads are the second best in ASEAN (no, we have worse than Indonesia and Thailand and Singapore roads), how our leaders are the best (well even our ideal choice PM is a mess when comes to terrorists) and on and on it goes. At some point even our EPF will be espoused to the heavens. Then they make systems to encourage you to save with them with the expectation of flexible withdrawal (I showed the proof). Sometimes they allow mass withdrawal, and then at other times it is for YOUR DAMN RETIREMENT!!!

If you don’t debate this and don’t think carefully about this but just ayam catch no ball then just continue with blue pill lo.

The majority of this 1% also dont care abt this RM1.3m thing. Bcos they understand that epf is for retirement.

So its a minority of a minority who want epf to be high yield casa before retirement whose "liberties are affected".

The key point is being old enough... Then no problem.

Haha.

Or be too rich to be not bothered, right? Lol.

yup... epf is 'useless' for folks that have discipline and can earn >6% pa like yourself...

myself no more interest to hustle so just park safely in epf bah and just enjoy my retirement...

as for many other folks... epf was their lifeline during covid... many would be far worse without it...

I am hoping the relevant person will ask. But honestly the question maybe : what is the next best thing that is low risk?
It’s a weird thing to convert Epf bound monies into equity.
Even corporate bonds have a lot of risk.

People will be unlikely to treat Epf bound monies with risk appetite, imho.

From a risk return profile, epf is superior to corporate bonds.

However there could be other considerations which are subjective to the individual like liqudity and diversification requirements.