Till 75 yo, above that no more divident given to the all the money u got inside.

If you self contribute, can this be withdraw anytime or still have to wait 55 years old?

True or not my friend u can verify with kwsp. The info from kwsp officer unless he is wrong la. There r just too many kwsp money without nominees, so many pass away. For those 75 yo and above, they allow u to keep ur money in, n put some more, but no give u divident liao. As long as u happy and can live longer no harm u wanna keep inside one. But problem when some kwsp owner pass away, that is the real headache since they have to handle the money properly. Malaysian median age of life span is around 78 for female n around 74 for male.

Is this still valid? To optimize, need to ensure the money appear on at the end of each preceding month. If appear on the 1st, will lose the whole month.

There is a cut off date in the mth, not sure when exactly that is.
Dont worry about that, when you have the available cash to dump into EPF, just do it. No point being calculative about a few dollars lost due to missing cut off dates...small potatoes.

agree

Most of us new members don't have time to read through 40 pages of posts just to find a single info.

We always assume that it should start from day of deposit like all banks.

What about withdrawal? If we withdraw on 29 of the month (end of month), do we lose 1 month interest too?

Is there a way to request for refund to Maybank since the money is not deposited yet into KWSP? I wish to cancel the 'investment' but Maybank2u don't have this option.

There is also no option in KWSP website that say I can cancel the investment when it has not been deposited into KWSP yet.

This one month wait for the interest calculation is ridiculous.

Usually Day 1.0 bank in, Day 3.0 reflected as Day 2.0's date.

Transferred on 2-Mar-22
Captured on 7-Mar-22

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treating EPF as a bank and keep money in EPF to earn dividend when account has excess of 1 mil, which in theory can be withdrawn any time.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.

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.

1) self contribution is maximum RM 60K (per annum limit) which is on top of and separate from your salary contribution from employment

2) if your balance is > RM 1 mio, any balance above that can be withdraw at your discretion anytime. Only limit is rm30K per day via i-akaun. If you wanna w//draw more than 30K, u will have to get it done via any EPF branch.

The reason I brought up about employer is because it is in the same category. I'm aware we are talking about Voluntary Contribution (VC).

And the reason I brought up about penalty is - consider this - employer pay on 15th (which is the due date for Employer Contribution) via Internet banking... Will they be imposed with penalty? The answer is no, because to the employer they paid on the due date. They won't care when did it arrive EPF.

I'm not sure why you suddenly mention about mortgage and CC - which is totally different thing.

I'm gonna correct the misconception in this thread.

I remember reading some comments that one should put in money at the end of the month. My self contribution was reflected on July 1st. Does that mean I won’t get any interest for the whole month of July?

just wanted to earn the daily interest of the 100k before putting in.

so if put in at 26th, I can still earn 26 days of daily interest from other place. 

Barring any hiccup, can even do on 30-Dec if using epf app n fpx. 29th to play safe.

Hi Sifus, sorry for the complicated question that is coming but I really would like to know. how is the dividend calculated for self-contributed amount? for example if my salary is 10k , every month 2.3k will be deposited to my epf, assuming its my first year so I have accumulated 27600 in the epf. Assume dividend is 5% that year, I will have 28980 in epf. When the new year starts, I want to contribute 1.7k to my epf via self-contribution so total 4k (2.3k from work and 1.7k self-contribution) every month. 12 x 4k + 28980 = 76980 by the end of year so if dividend is announced 5% will I get 5% of the 76980? Thanks in advance for the clarification.

Sorry I don't quite get you. Even now if lets say in Jan 2023 you start with 100k balance in EPF, every month there is 2k going to your epf (employee and employer compulsory contribution), so by end of 2023 you would have 124k in your EPF, the 5% dividend is paid on 124k right?

that is too drastic. must be sad when heard got someone achieved 1m when age 45

Hi all, a question. Does it make sense to dump around 50-100k that is currently sitting in Vera/KDI into EPF? It's basically medium term emergency fund which I can withdraw from EPF as well when needed.

Erm, why else you think I'm asking if I can't withdraw it now.

if your money is in your children EPF accounts....

if they are not yet 50 yrs old.....when you needed that money.....sorry lah have to wait.
if they are above 50 but below 55,....they can only withdraw from account 2 thus if their account 2 only has less then the sum of your total money inside, ....sorry lah have to wait for some time to get it back.

if you are 30 by the time you are a father,
then by the age of 85, your children will be just age 55,...can take the money to return to you

if your children before age 55, needed to withdraw to buy property,...then it could be your money that the get from their EPF accounts.

Just telling you, your family is you unless your family all char siew then sorry lo. You married wrong spouse and having char siew children lo. too bad

Her EPF account already hit 100k limit or what???

Omaigod.
Have to plan wisely on the withdrawal then....

U mean if one withdrew say 100k on 31Dec2023, he gets no dividend for that 100k when 2023 dividend is credited in March2024?

If you withdraw before dividend is declared after calender year normally period Jan- Feb, it would include min  interim dividend of 2.5% even for full account closure withdrawal.

Withdrawal on 31 Dec or before will not be entitle for dividend on that same calender year.

That's my understanding when reading how dividend is calculated...

What's your opinion?? Your understanding on the dividend calculation??

Same or differ

ini i tak percaya
the 100k sit inside EPF from Jan 1 till 30th Dec then 31st withdraw the 100k got no dividend?