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.

Perhaps it was my age and exposures,
I don’t debate this EPF things and don’t think carefully about this EPF things also bcos what can a kopitiam debates here and there in this forum do or can seek to accomplish except just for the satisfaction of having posted our thoughts here when we damn know that the real results of this debate cannot be changed by debating here. The people in power in KWSP does not care much of what we debated here.
Thus I prefer to concentrate my time and my brain energy to many of my other interest.  Just continue with the thinking of blue pill use maybe next in the lists of my others yet to complete things to do .

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.

on point
mostly in this kopitiam thread are top epf 1% category myself included
99% of ppl dont care how can the 1% make a different
if a policy changes impact 50% of the epf holder then sure ppl will make noise and even go down the street to protest
but now the changes is impacting less than 1% of ppl

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 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".

True, I'm in that position and this RM 1.1, 1.2, 1.3M threshold doesn't bother me.
In a few more years, I can have full access to all of it anyway.

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

Haha.

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

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".

when the rules change we dont fight the rules we adapt to the rules as simple as that
FIGHT the rules when you are minority is useless
always play by the rules when you are a minority

guide to survive as a minority:
1. Adaptability
2. Adaptability
3. Adaptability

itu saja

I don’t think it’s about caring or not caring… it’s more about awareness and annoyance. A rule change like this means some of us just have to adjust our financial planning. Not everyone actually needs EPF for retirement.

Take me for example: I’m still way below 50, and even after heavily withdrawing over the past 2 years, I can still take out a big chunk if I want. After that, honestly, I won’t bother with EPF anymore because as a percentage of my net worth, it becomes insignificant...

So what was once a “support” to EPF during my working years (I actively encouraged my colleagues to throw extra into EPF back then)... basically comes to "nothing" in the end as for its function as a retirement fund (to me at least). That’s the irony. 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...

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...

.......FI/RE? And since EPF did something NO ONE IS OPENLY proud about, what is the way forward?

Again, how would you advise say a 38 year old who is now at perhaps 800k in EPF, not too much in equities, working hard salaryman and trying to break out of the cycle?

i like the subtle sarcasm there......the 'useless' EPF......     :thumbsup:

already moved out big chunk from the ''useless'' EPF long ago...
why still griping again and again?

what is that something in EPF
that has frustrated him so much..

EPF as your ATM is affected?
worry pump in market and groceries money
later unable to withdraw ...

on one hand said  EPF 6.5% useless
but still unable to let go that abuse
pump in  take out regularly...

TBH I have personally accepted the grief.
But not discussing it, "it is not my problem", "I am 50 now when I legally did I 5 years ago I was proud, now suck it young man" - These are all very poor answers.

I do park money that I don't want to touch until I am 50. Yes, Malaysians who are savvy will quietly do the smart thing.
But what is lacking here is empathy and discourse. I mean afterall MOST OF YOU who are here surely not to brag about your own FI/RE or past achievements right? Why don't we discuss how to make the next FI/RE? And since EPF did something NO ONE IS OPENLY proud about, what is the way forward?

Again, how would you advise say a 38 year old who is now at perhaps 800k in EPF, not too much in equities, working hard salaryman and trying to break out of the cycle?

For this 38 yrs old that has 800k in EPF
How much spares cash per month that he can put side that we will not touch for 10+ yrs?
Does he has any other experience in investing other than putting money in kwsp?
Is he willing to lose some % (at what max %?) of his capital so as to have some potential to gain some ROI from his investment?