• KWSP
o Kajian semula pelepasan cukai bagi caruman mandotari/sukarela
kepada skim yang diluluskan/ KWSP dan premium insurans nyawa
atau takaful hayat atau caruman sukarela tambahan kepada KWSP
o Menaikkan had caruman sukarela KWSP daripada RM60,000 kepada
RM100,000 setahun

https://budget.mof.gov.my/pdf/belanjawan202...-touchpoint.pdf

From MOF and the link mention is Budget 2023 (24 Feb 2023) thus i belief you can trust this... Search KWSP...

Refer to https://budget.mof.gov.my/pdf/belanjawan202...oint-budget.pdf

Page 36

• KWSP
o Scope of tax relief for life insurance premiums or life takaful
contributions is expanded to include voluntary contributions to EPF
up to RM3,000

this part read like existing rm3k on life insurance whereby people have not fully utilised now expend to self contribution...

meaning if life insurance you only able to claim 2k and you can topup 1k (self contribution but not statutory contribution by the way of 11% deduction) can now (2023) be consider as relief...

Dear sifus, when i read through the comment you guys keep mentioning the 1.3m dividend payout is not enough to survive thing... what about the capital of 1.3m going??? u r not using it in any condition or keeping it for grave yard??? how can u just spend what dividend u have when u retired??? after you have gone the 1.3 contribute to government??? your kids cannot start their own life and accumulate their 1.3 or 13m in future??? sorry ya just thinking out loud...

This post has been edited by confusedway: Mar 14 2025, 11:27 AM

so when the kids grown up they dont earn a living yet depends on the FAMA bank to feed them??? ( i wish i can... ) then after sometime they will leave you behind and move on right??? by that time you will have double the cash you have to survive (the 2+2 case)... dont tell me that you need to feed them until the day you gone and maybe feed their BF/GF also... if that is the case u really need more than 13m just to survive...

sorry ya, to me the kids are the kids they need to learn to survive, dont keep feeding them, teach them how to fish instate... and i belief most of us do have a house... by the time u gone they will not stay in your house anymore means there is more 'money' for them right???

yaya to save as much as possible but not to the extend like 1.3m is peanut, infact alot of people who have retired with even less than 13k with them...

end of the day is a choice, what you want... continue to stay in a 3000sf bungalow with only 2 head count or go round the world while you still can walk...

This post has been edited by confusedway: Mar 14 2025, 11:49 AM

thanks for all the input sifus... looks like most cases are either kept the capital and pass down or give out next to nothing (unless gone earlier)...