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 EPF - self contribution, need advise

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ikanbilis
post Jan 3 2020, 10:37 AM

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QUOTE(yklooi @ Jan 3 2020, 10:28 AM)
just out of curiosity and to "test" the availability of black out period of transaction details.
I made a self contribution on 31 Dec 2019 (as suggested in the above post)

my EPF a/c's total balance was updated with the self contribution value/details 3 days later.

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Looks like what you mentioned are happening .

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I used the EPF I-akaun to check, it did reflects in 3 days, the self contribution amount in my total a/c balance

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tag the both of you because you seems to be following this.....
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I made a self contribution on 1.1.2020 unfortunately still not reflected in my online account sad.gif

ikanbilis
post Jan 7 2020, 09:05 PM

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Confirm that self contribution made on 1 Jan is not reflected in the online account.

Disappointed with EPF systems. Now is year 2020 and you cannot reflect members deposits until declared dividends? I am not even asking for real time, at least you should be able to do so after 2 or 3 days. Else how do we know our deposits are intact and not lost in transition?
ikanbilis
post Jan 7 2020, 09:23 PM

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QUOTE(Kcee @ Jan 7 2020, 09:17 PM)
Did you try to see the 'Withdrawal eligibility' section to find any increment of sum due to your deposit? It's an indirect way of checking your up to date current balance if I am not wrong.
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Thanks bro! Use your method and saw the increment which is the amount i deposited on 1 Jan biggrin.gif

ikanbilis
post Jan 8 2020, 09:31 AM

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QUOTE(yklooi @ Jan 8 2020, 08:53 AM)
not sure if he did keep screenshots of before and after transaction deposited on 1 Jan.
I think not many do that, unless they purposely want to proof something....
anyway I will ask
can you do as per above post?
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There is no transaction date. You know your balance as at 31 Dec and the increment is your deposit. That is why its only an indirect method to check. Not directly show the amount and actual transanction
ikanbilis
post Jan 8 2020, 10:41 AM

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It is high time for epf to use fpx for members to deposit funds.

Sspn is using fpx and transaction immediately updated.

Asnb is using fpx and transaction immediately updated.

What about you, EPF, being the biggest fund in Malaysia?
ikanbilis
post Jan 9 2020, 04:13 PM

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QUOTE(sky18 @ Jan 9 2020, 03:35 PM)
Actually if u think carefully, it only limited ppl doing self contribution. Furthermore, not all of them using fpx. It might no worth the money spend (our money afterall) for such system enhancement. Existing channels are pretty sufficient to serve the need.

However, do agreed that their statements system should be enhanced. Its confusing and wander why they freeze the statement update till dividend being declared. The laps is a month plus!
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Whilst i agree its only limited ppl doing self contribution, i dont agree with not spending money for system enhancement. Now payment gateway is so common and cheap not to mention Epf is managing hundreds of billions worth of fund. If Epf can loan RM200million to 1mdb easily, what is spending RM50k for upgrading systems?

ikanbilis
post Jan 9 2020, 08:42 PM

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QUOTE(sky18 @ Jan 9 2020, 07:56 PM)
Don't get me wrong. Spend money on important area and priorities stuff like statement enhancement. Fpx is pretty complicated by its design and outdated from technology perspective actually. Ppl shall more toward more elegant approach. On another front, abit out topic, do check who owned the fpx. Hehehe, why banks forced to support it.

50k u can buy a nuts only smile.gif.  System vendor will as much more for such enhancement.
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I'm not talking about upgrading the whole system. Im talking about designing a webpage that able to accept payment gateway such as fpx etc. You can check the iwk website how many types of payment they accept.

You talk about current channels are sufficient but do you actually know how many local banks that can make EPF self contributions? Do you think it's really sufficient?



ikanbilis
post Dec 27 2020, 11:31 AM

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QUOTE(yklooi @ Dec 26 2020, 06:49 PM)
just asking,....when did you make the I-saraan contribution?

i think reading from their FAQs

The EPF will routinely make government contribution claims based on accumulated contribution for the first (January to June) and second (July to December) halves of the year.
Upon receiving the contribution payment from the government, the amount will be credited into members' Account 1 (Retirement Account).

https://www.kwsp.gov.my/member/contribution...he%20government.

looks like those that contribute i-saraan on the 2nd half of the year will "get" it next year.
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I did my i-saraan contribution on 19 May 2020 and received RM250 gov contribution on 24 Sep 2020

This post has been edited by ikanbilis: Dec 27 2020, 11:32 AM
ikanbilis
post Dec 27 2020, 04:39 PM

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QUOTE(yklooi @ Dec 27 2020, 12:13 PM)
thanks for telling and confirming the latest info
thumbup.gif  notworthy.gif  notworthy.gif
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I check my 2019 statement and noticed my contribution made during April 2019 and gov contribution credited October 2019.

So i guess gov contribution will be made in Sep/Oct for i-saraan deposited before June. I have no idea when will be the gov contribution be credited for i-saraan made from July onwards. So everyone try to deposit the i-saraan before June to be safe.
ikanbilis
post Jan 2 2021, 08:03 PM

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QUOTE(Kaka23 @ Jan 2 2021, 03:11 PM)
It will reflect instantly in kwsp I account once you transfer?
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Pls note that any transfer to kwsp now will only be updated after dividend declaration. I faced the same thing when i made self-contribution on 1 Jan last year.

ikanbilis
post Jan 2 2021, 08:21 PM

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QUOTE(mamamia @ Jan 2 2021, 08:14 PM)
So, it will backdate to 1 Jan right?
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Yes. It was shown as contribution made on 2 Jan on my i-account.

ikanbilis
post Jan 21 2021, 12:53 PM

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QUOTE(sweetpea123 @ Jan 20 2021, 09:54 PM)
CIMB - sorry a lil amendment there, it was 19 Jan-  9pm

12 x RM5k , didnt come here before I placed , otherwise would have used MBB, one lump sum 60k, so much easier

BTW, what's this i-saraan, we can get RM250 from Govt apparently. Have to go KWSP to apply?
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ikanbilis
post Mar 17 2021, 10:40 AM

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QUOTE(Vickyle @ Mar 17 2021, 10:34 AM)
Sorry, I am just starting to learn and plan on self-contribute. Does this "Withdraw Eligibility" mean that I can withdraw the contributed money anytime I want (like FD withdraw)? Want to withdraw from FD to place in EPF since the dividend is higher.
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Epf is not your FD. Many conditions need to be met before withdrawal is allowed.
ikanbilis
post Mar 24 2021, 12:47 PM

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QUOTE(m@nn @ Mar 24 2021, 09:30 AM)
Anyone know when or how many days the self-contribution $ from Maybank will be reflect in EPF portal?
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Usually 2 days
ikanbilis
post Mar 25 2021, 12:10 PM

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QUOTE(m@nn @ Mar 25 2021, 11:30 AM)
Based on my checking, EPF only process once a month during month end. The contribution will only shown in next month.
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Nope. I have been self contributing every year and it never take more than 3 days to reflect on my i-account. See below my most recent contribution on 2 March and it has been reflected and not next month.

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ikanbilis
post Mar 27 2021, 05:36 PM

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QUOTE(DiSaver @ Mar 27 2021, 05:25 PM)
Hi!  I know it stated very clear those having regular income is not eligible for self-contribution, have anyone tried and what would happened?
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Even if you are a salaried worker you still can do self contribution up to RM60k per year. Only you are not eligible for i-saraan RM250 gov incentive.
ikanbilis
post Mar 28 2021, 10:16 PM

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Sharing my experience for self epf contribution

1 March : Deposit through PBB

2 March : Not reflected yet on I-account

3 March : Reflected on i-account after 12am. The contribution date is written as 2 March

Conclusion : Epf confirm your deposit one day after you make the online deposit. Reflected on i-account after 2 days.
ikanbilis
post Mar 6 2022, 11:48 AM

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QUOTE(Jack&Guild @ Mar 6 2022, 09:04 AM)
Yes that i saraan. I got that extra incentive for the past few years. But last year hanging and not received.
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Deposit i saraan Jan to June, receive incentive by Sep to Oct.

Deposit i saraan July to Dec, receive incentive by Mar to April.


ikanbilis
post Mar 6 2022, 05:55 PM

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QUOTE(MUM @ Mar 6 2022, 03:48 PM)
hopefully they will extend the i-saraan incentive beyond this year n extend the max age of < 55 too
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Currently i-saraan is applicable up to age 60. However 2022 would be the last year. Like you said hopefully they will extend another 5 years.
ikanbilis
post Mar 6 2022, 07:23 PM

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QUOTE(MUM @ Mar 6 2022, 06:03 PM)
thanks for telling the age 60.....any idea when did they changed from 55 to 60 to be eligible for the i saraan incentives of 15%?
or all the while it was 60?
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As yklooi mentioned it was changed from 55 to 60 but i do not know when.

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This post has been edited by ikanbilis: Mar 6 2022, 07:28 PM

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