If your total already reached 1mil, then taking out the 50k wouldnt be restricted on the purpose of the money. If for house reno, i dont think can unless but if its for the first house, first time , they will bank in to your account. But later stages, whatever withdraw will to the loan account and you can not take it out even its a flexi loan account.

I suggest just go get some credit card cash out, i think HL giving like 3% plus pa. Still cheaper on this rather you take out the 50k from EPF as that 50k is giving you say 5-6%pa.

For short term roll ...

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

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

On 9Aug2019, i contributed excess of rm5k. On 16Aug, they called me and then follow up by an email to my registered email. They need veeification for you to reply their email..

"Mohon tuan/puan kemukakan maklumat-maklumat berikut untuk tujuan pengembalian bayaran berkenaan :-

a. Alamat terkini ahli
b. Nombor akaun bank ahli yang masih aktif
c. Nama Bank (bagi no.akaun bank tersebut)
d. No Telefon

Untuk sebarang pertaanyaan, sila hubungi Pn. Haliza Zainuddin di talian 03-2694 8566 (samb. 2619)"

They are very helpful. I suggest you can call them for the KL branch provided this lady still handle this matter

They didnt asked me previously.

I think should be safe as its just like a transaction, like you made a payment and share the transaction detail to a friend. Do make sure they didnt ask you for login and password 😅

RM100k yearly self contribution ...

67,919 EPF millionaires and RM1.709mil average per saving of an EPF millionaire in 2020... If anything more than RM1mil only get say 3.5%, then I think prepare for a mass withdrawal of 67919 x RM0.709mil = RM48bil , But that's only 2020 data .. try 2022 end data, maybe 55bil out..

Honestly, just wondering, for those retired civil service with say RMM4166 and a move per month, will they get reduction in their entitlement? RM1mil in EPF with 5% pa divided will get you RM4166 per month divided to Sara Hidup after retirement. Previous, only two choice, EPF or pencen, so those opt for EPF will try best to save as much...

Anyone has data on pencen citizen that having above RM4166 and how many are these pensioner?

This Tier discussion is just full of shit from whose that envy those that eat bread to safe enough for future financial stability just like those getting pencen ...

If today only put in say RM2000 for son for I-Saraan, will he get it end this year the RM300?

when you already have 1M, can just try it out and withdraw say RM20. You then need to go KWSP office, thumb print and get the your bank account for the KWSP money transfer in... Once you done one time, in future, you can just withdraw RM30 and you will see the money in bank likely 3 days, just using handphone apps. Simple ... regardless of age

I would, bank in max in Jan. If not enough bullet, just take some from flexihomeloan .. and during the whole year, fill that flexiloan back ... ... anyway assuming EPF 5.5% while loan 4% ... and also EPF above 1mil.

Question: Say I have 100k in Dec, and my son age 16, student, not working, Can I put in 100k into his EPF as self contribution? Will he get LHDN audit or is it allowable?

Starting 2025 onwards, no longer 55yo as retirement age where I can withdraw all from EPF and now revised to 60?

This post has been edited by KIP21: Dec 17 2024, 06:44 PM