Hi All,

Appreciate someone can shed some lights on my questions below:

1. If I'm already contributing to EPF through normal employment every month, can I still self contribute RM60k annually?

e.g my permanent job EPF contribution is RM20k / annually, that it mean that I can only self contribute another RM40k ?

2. I understand that one can withdraw money from EPF when his/her EPF account has excess of 1 mil. Does withdrawal included self contributed money?

I'm curious anyone is treating EPF as a bank and keep money in EPF to earn dividend when account has excess of 1 mil, which in theory can be withdrawn any time. The dividend from EPF now is much higher than the FD that banks are offering.

Thanks.

This post has been edited by Sitting Duck: Apr 26 2022, 10:38 PM

Thanks for the answer.
Can I know what is WD in your statement "30days after WD completed"?
I didn't know there's a limit on number of withdrawal. I thought the limit is RM30k withdrawal per day.

Thank you for your advice. Appreciate the answers shared.

Hi,

https://www.kwsp.gov.my/member/overview#InvestmentDividends

Based on the EPF Website:

"Whereas your monthly contributions will earn dividends based on:

A day in the month of said contribution
Said month's contribution will earn dividends based on the daily calculation starting the following month until the end of December of that year"

Can someone confirm that money deposited say in the middle of the month would only stat earning interests on the 1st of the following month?

Therefore if I plan to deposit 60k for self contribution last week in March , the 60k should be earning interests at the 1st of April. Is my assumption correct?

Thank you.

I'm just hoping that they do not make any changes to >RM1mil withdrawal else the money would be stuck until retirement for those that do voluntarily top up and has > RM1mil.

I'm parking my children education in EPF. =.=woried

This post has been edited by Sitting Duck: Mar 29 2023, 07:58 PM

You mean EXRA bonus return of 0.5 to 1%pa on top of annual dividend? That would be a valid reason and good idea to stretch the money.

Hi All,

I'm thinking to create EPF account for my 2 children, age 16 and 18 and start contributing through the i-Saraan. I remembered there was a incentive from Government as well but couldn't find the info about it. Is the incentive from Government still on and does it apply to children EPF account?

On top of it, once my children are grown up and start working, do they use the same EPF account or have to open new account?

Appreciate some advice on this.

Thank you.

This post has been edited by Sitting Duck: Jul 26 2023, 07:45 PM

Special Incentive
By 15% of the total contribution up to a maximum of RM300 in the current year following government terms and conditions.

Does it mean that the incentive from gov is RM45 for maximum contribution of RM300?
or
It's RM300 incentive from gov for max contribution of RM2000?

I wonder how they find people that are self employed? Through LHDN? I am just wondering my uni/school going children are eligible?


Update: Just noticed that occupation is needed when registering for i-Saraan. Student isn't part of the list.





This post has been edited by Sitting Duck: Jul 27 2023, 01:18 PM

Hi Sifu,

The EPF dividend is calculated on monthly basis right.

If a person put in 30k self contribution in month of Jan 2023 and take it out in Dec 2023 , assuming that person qualify to for withdrawal (age > 60, > 1mil, etc)

The 30K would still get the dividend from Feb 2023 up to Nov 2023, right?

Thank you.

Hi Sifu,

I'm encouraging my parent who are retired (74 year old) to open a EPF account and deposit RM100k yearly to account.

Before that I need a few information that I hope Sifu can help me:


From what I understood, any account holder > 55 years old, the account would be account emas.

1. Does account emas still get the same dividend rate declared every year.
2. Any Malaysian < 75 years old is eligible to open an EPF account. What happens > 75 years old. Can the account older older > 75 years old still deposit RM100k per year and continue to enjoy the same dividend rate declared yearly?
3. Is the money this account can be withdrawn any time?

Thank you.

This post has been edited by Sitting Duck: Jan 8 2024, 09:43 PM

Hi Sifus,

Would I be able to get the dividend for the month of March 2024 if I deposit the money on 26/02/2024, Monday?

Thanks.

I've deposited X amount on 25 Feb 09:02PM , and X amount on 26 Feb 10:00AM. Only the deposit on 25 Feb is reflected in my Account 1/2.

Hopefully the amount deposited on 26 Feb would be reflected tomorrow so that I can get the full interest for the month of March onwards.

Using the KWSP app , direct deposit (FPX).
Make sure FPX transfer limit is set properly in bank account.

My first deposit failed because of the wrong limit set on FPX. After setting the right FPX limit, all the deposits were successful.

Sorry, my mistake. I should have said insufficient FPX limit.

I have previously set my FPX limit to X amount, but I wanted to deposit Y amount higher than X amount, got declined because of it.
I didn't know at first the deposit was using FPX as the payment method.

On a side note, my deposit on Monday (26/02) is reflected in my Account 1/2 today.

hi all,

For those that has open an i-Saraan account for your child, which is still studying (student), what did you put as your child's occupation?

Can you advice?

I've reached out to KWSP and apparently putting Others - Student is not allow. So wondering what other parents are doing to open i-Saraan account for your child?

Any advice is welcome. Thank you.