hahaha, EPF is an investment house. so the more investors (public) the more they can widen their portfolio of investment. Hence its more profit for them. Only based on those profit, they share a some portion to the investors who has saved the money in EPF. End of the day its a profit for them if they have a larger sum to play around, after all its profit sharing.

Now by self-contributing , you can subjected to tax waiver up to RM 3000

Congrats! I still need a few more years to go. Yes, anything you contributed after 55 will goes to Account Emas (60).
Yes, you can setup online withdrawal to withdraw money like an ATM from your 55 account.
if your parents is now still around, why don't nominate it now? It's a very easy process. One visit to EPF will do. Immediately done on the spot.

My life is simple...I don't need lots of money ..just live below my means...I guess I have evolved a little bit closer  to the point of no craving (nirvana). Only a few material things in life interests me. Not really expensive , but hard to procure and maintain.

Ahhh...
The day many people doing deposit into EPF...
Rushing the dateline for the January month contribution... 😁

Apps already crashed

Hmm...i've made another transaction to EPF just now using the app. It captures my transaction immediately in the app, but total amount is not reflected yet. Will this transaction make it for this month? The transaction date shows 30th January 2024.

thanks for answering my not so stupid question of potong more than 13%. As my age is catching up i am slowly moving my FD and ASM into EPF.

2024 - 51 years old to max RM100k as not going to renew my FD but anything mature will go into EPF an continue to buy ASM for any left over. Will no longer be keeping FD anymore this year

2025 - 52 years old to start selling my ASM and move to EPF and will also MAX out 100k and this is where i will start to ask HR to deduct 25% of my salary to EPF

2026 - 53 years old continue to sell ASM and Max out 100k and increase EPF contribution to 35% and by my own calculation this is the year where i should hit RM1.0 Million. If anything emergency i still can withdraw from EPF for anything about 1.0M and sell more ASM if needed

2027 - 54 years old, continue to sell ASM and max out 100k and continue with 35% of salary deduction

2028 - 55 years old is when i retire and i dont think i will have income and i should be sitting with about 1.3 milion to live out whatever life i have and if company dont fire me i will still work and accumulate EPF. this is the year also my housing loan should be cleared.

i did not make it in life and i dont think 1.3 million is going to make me rich, all i am hoping for is that it can last me for 25 years assuming that i live till 80 years old

1.3million with assumption of 5.5% dividend i will have about 6k per month to support my family. good luck to me

i am hoping to get up to 1.5M to 2M if possible but i dont think is  possible

good idea also.. no matter what max 100k is a must for this year and the next 3 years if i need to hit my goal of 1.5Million
my own calculation is 1.3 million right now when i reach 55 years old

anyone here know how is life when stop working? I am a little scare... is just 4 years away...

Sorry for not being clear enough in my question...

What I meant is... Your percentage for each product...

How much you split for each... Let's say Rize, you keep like 20% of your total $$$, EPF like 30%...

I’m deducting 17% now.
Possible to go higher I think.

Page 171, post 3409 mentioned

"doing 100k + 60% potong"

Your nett salary.

Not sure, I could not find any regulations to this topic in the EPF website.
However, I'm tempted to say you can whack whole salary into EPF, just leave a bit for the monthly PCB + SOCSO.

Ooh...
The divvy till 75 is true? Wow...

Probably true, it's depending on Malaysia longevity....

Later maybe new EPF boss comes on board... He change to 100? 😁

I've deposited rm100 from M2U selecting i-saraan but end up above?

Makes sense lah if you are savvy and got other higher yielding and easily liquidable investment vehicles.

too much hassle, lol
unless someone have an excel sheet for me to keep track then it's fine.

in fact, i was going for the tax relief purpose.