Welcome Guest ( Log In | Register )

Bump Topic Add Reply RSS Feed

Outline · [ Standard ] · Linear+

 EPF - self contribution, need advise

views
     
aspartame
post Mar 3 2019, 09:31 PM

Look at all my stars!!
*******
Senior Member
3,165 posts

Joined: Feb 2015
QUOTE(MUM @ Mar 1 2019, 07:35 PM)
EPF PAYS DIVIDEND UP TO AGE 100

The Employees Provident Fund (EPF) wishes to clarify that an old statement about EPF dividend payment until age 75, which is circulating primarily on WhatsApp as well as on other social media platforms is no longer applicable as it is outdated.


http://www.kwsp.gov.my/portal/documents/10..._19.07.2017.pdf
*
Thanks for the heads up.
aspartame
post Jan 10 2020, 08:10 AM

Look at all my stars!!
*******
Senior Member
3,165 posts

Joined: Feb 2015
I see some of you put in the annual limit of RM60k self contribution.... why would you lock up the funds till age 55??? Even though the return is high...
aspartame
post Jan 10 2020, 08:46 AM

Look at all my stars!!
*******
Senior Member
3,165 posts

Joined: Feb 2015
QUOTE(MUM @ Jan 10 2020, 08:20 AM)
read before,...some has extra cash, some are nearer to age 55, some wanted the rate as it is easier than ASNB FP funds.
*
Unless close to age 55.... I think might as well put into stocks or if conservative just roll the FDs...

They say money is not really yours if it is not within your control now, and by that definition , EPF is not your money yet.... furthermore, rules might change to delay to 60 and beyond ( very likely) or to allow only staggered withdrawals ... u might never see the money in lump sum again... just voicing out my concerns for others to consider ...
aspartame
post Jan 10 2020, 10:10 AM

Look at all my stars!!
*******
Senior Member
3,165 posts

Joined: Feb 2015
QUOTE(ywliang96 @ Jan 10 2020, 09:49 AM)
This is just like saying “EPF will bankrupt”. Fairly certain everyone will get their money when they reached a certain age (be it 55 or even 65).

The main purpose of EPF is compounding interest no? Honestly I don’t see how that’s a problem since u would need to hold a stock for a damn long ass time for compounding dividend which would be the same as putting money in EPF and waiting till 55 or 65
*
This is not saying EPF will bankrupt.. if EPF bankrupt, then stocks in Malaysia will be much worse.

The diff between holding stocks vs EPF is liquidity.. in times of need , you have access to funds immediately ..

An extreme example is if you are dying in a years time , u can liquidate your stocks and spend the money the way u want ... not with EPF, it will be locked up and then your beneficiary can spend..

A less extreme example ... 10 years down the road.. u want to migrate... and u need money etc etc...

Basically, u are saying u want to earn extra 2% for giving out a 30 year loan...this loan cannot be terminated prematurely ..

And, even the extra 2% is debatable .... stocks might be able to earn 10% quite easily Over the long term... so, you end up locking yourself up and earn less.... not saying stocks will do better ... but there is a chance it will do better than 6%
aspartame
post Jan 10 2020, 10:29 AM

Look at all my stars!!
*******
Senior Member
3,165 posts

Joined: Feb 2015
QUOTE(donhay @ Jan 10 2020, 10:25 AM)
I do the 60k self contribution because of diversification. I have some money in KLSE, FD, bonds and bank structured products.

I tried ASNB FP funds, entering captca is a pain in the butt.  tongue.gif
*
Diversification is ok I guess but not too much cos employees are naturally contributing already.
aspartame
post Jan 10 2020, 11:58 AM

Look at all my stars!!
*******
Senior Member
3,165 posts

Joined: Feb 2015
QUOTE(romuluz777 @ Jan 10 2020, 10:51 AM)
Liquidity is no problem. Am at a level where xx amount above base level, can be withdrawn anytime. As long as they dont change the rules😂
*
That’s the best!
aspartame
post Jan 10 2020, 01:06 PM

Look at all my stars!!
*******
Senior Member
3,165 posts

Joined: Feb 2015
QUOTE(cute_boboi @ Jan 10 2020, 12:56 PM)
Give up MY citizenship, get new country citizenship, show to EPF that you surrendered M'sian citizenship, and EPF will lump sum give back to you (of course within reasonable processing time of weeks/months). No age restriction.
I have friends who migrated and withdraw all. Some still curi curi leave in EPF to compound interest.
*
Lol.. nobody is giving up Malaysian citizenship..if take PR only then cannot withdraw ... money stuck
aspartame
post Jan 10 2020, 01:17 PM

Look at all my stars!!
*******
Senior Member
3,165 posts

Joined: Feb 2015
QUOTE(Wedchar2912 @ Jan 10 2020, 01:16 PM)
why worry about EPF going bankrupt? Due to our population demographic, EPF's aum kept on increasing by at least 10% per year, and mostly due to member's contribution.

Every employees contribute regardless of ethnicity, age, gender, etc.  So if anything happens, gov will pump money. Just like TH and kwap. why worry.
*
Why u worry EPF bankrupt?
aspartame
post Jan 10 2020, 01:19 PM

Look at all my stars!!
*******
Senior Member
3,165 posts

Joined: Feb 2015
QUOTE(cute_boboi @ Jan 10 2020, 01:14 PM)
Then, it is not called migration already rclxub.gif you should rephrase to work/stay at overseas for extended period of time.
*
Migration with PR also migration what....

If you say extended stay/work overseas also face the same problem of not being able to withdraw from EPF if you need the money to start life overseas
aspartame
post Jan 10 2020, 02:17 PM

Look at all my stars!!
*******
Senior Member
3,165 posts

Joined: Feb 2015
QUOTE(ywliang96 @ Jan 10 2020, 02:13 PM)
Correct me if I’m wrong, but if we ever plan to migrate, I do believe we can withdraw our funds completely.

I’m a stocks holder and a EPF contribution. I think doing both is the best of both worlds haha
*
Migrate but still maintain citizenship la...if u give up citizenship then u can withdraw... but it is foolish to do so..
« Next Oldest · Finance, Business and Investment House · Next Newest »
 

Add ReplyOptions
 

Change to:
| Lo-Fi Version
 0.0311sec    0.36    7 queries    GZIP Disabled
Time is now: 5th December 2025 - 03:59 PM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.