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EPF - self contribution, need advise
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jas029
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 Feb 19 2020, 11:08 AM
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guys.. am contemplating to switch my monthly saving to ASNB into EPF (self contribution)
for easy reference.. say my current EPF is 100k and ASNB is 20k.. lets assume return from both EPF and ASNB is about 5% going forward
and because my EPF fund is higher than ASNB, does it make sense to grow my EPF fund through monthly contribution to maximise the compounding effect?
my understanding is that by switching, the compounding effect can be realise sooner when compare to ASNB where i have to slowly build up from the 20k (and its hard due to the unavailability of units when u want to buy)
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jas029
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Feb 19 2020, 11:46 AM
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QUOTE(MUM @ Feb 19 2020, 11:23 AM) the EPF will have lock in period... try to think of it as How much $$ you have now....the compounding effect will be based on the rate of returns X number of years understand with the lock-in for EPF.. i should mention too this is for long term.. would assume by adding cash into 100k can build-up the fund faster through compounding interest when compare to adding cash to 20K? |
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jas029
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Feb 19 2020, 01:44 PM
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QUOTE(yklooi @ Feb 19 2020, 11:52 AM) just ensure you have enough cash flow for other needs while money in EPF are locked away. Your Question: would assume by adding cash into 100k can build-up the fund faster through compounding interest when compare to adding cash to 20K? if both samples have RM20K at start, for A & B if you add in RM100k into A, then you will have RM120k x 5% pa X 20 yrs if you add in RM20k into B, then you will have RM40k X 5% pa X 20 yrs so which one will have more money in the end?...is this the query you asked? pardon for the confusion.. i should re-phrase as follow.. if i have 100k in epf to begin with.. and i self contribute 500 every month starting from now for 20 years.. at 5%, i should have more money than if i were to do it with ASNB right? ASNB is only 20k now to begin with |
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jas029
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Feb 19 2020, 02:20 PM
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QUOTE(MUM @ Feb 19 2020, 01:49 PM) the number of 100k vs 20k variance is too big.... PLUS you add RM500 pm into EPF.... uneducated guess winner is clear...EPF will has more money 20 yrs later thanks the big variance is the caused to my confusion.. if it were 100k epf vs 100k asnb, i wouldnt be asking the question in the first place QUOTE(PrincZe @ Feb 19 2020, 02:05 PM) surely EPF will be better instrument to grow your money. on the assumption , the interest rate for both are the same. because u are starting off much higher amount and it compounds. just as per others mentioned, you will not be able to withdraw. thank u for the confirmation u answer exactly to my query |
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jas029
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Mar 1 2020, 12:17 AM
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QUOTE(sl3ge @ Feb 29 2020, 05:33 PM) If i am a employee with epf, still can i still open i saraan and get 15%? dont think so.. saraan is only applicable for self-contributor |
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jas029
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Jul 1 2020, 11:44 AM
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QUOTE(BboyDora @ Jun 30 2020, 10:46 PM) Hi all, tumpang topic, I just applied i saraan via counter. The staff told me they will registered for me next day. They say can direct bank in money inside ady. How am i supposed to know that I ady under I saraan? When i check my i Akaun, nothing difference. Is it i can bank in any money from Maybank2u ady? Thanks in advance when u're about to transfer/deposit from ur m2u, u will have the option to choose self-contribution (without saraan) and self-contribution (with saraan).. opt for the one that apply to ur situation then |
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jas029
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Feb 7 2023, 03:59 PM
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QUOTE(ikanbilis @ Mar 6 2022, 11:48 AM) Deposit i saraan Jan to June, receive incentive by Sep to Oct. Deposit i saraan July to Dec, receive incentive by Mar to April. for my case.. i deposit RM1200 between July 2021 - Dec 2021.. i got RM180 isaraan in Mar 2022 and RM1600 between Jan 2022 - Jun 2022.. i got RM240 isaraan in Sept 2022 does that mean.. if i deposit RM1667 from July 2022 - Dec 2022.. i will get RM250 in Mar 2023? and if i deposit another RM1667 from Jan 2023 - Jun 2023.. i will get another RM250 in Sept 2023? if so, isn't the 15% (or RM250) applicable as half-yearly instead of per annum? |
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jas029
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Feb 7 2023, 04:34 PM
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QUOTE(CommodoreAmiga @ Feb 7 2023, 04:20 PM) It's per year lah. First time you deposit 2nd half of the year, hen e get it next year. Subsequent year you deposit first half of the time year hence you get it in the same 2nd half of the year. i see.. in short, in order to always get the max RM250, is it i'll need to deposit a total of RM1667 from Jan-Jun and then another RM1667 from Jul-Dec? |
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jas029
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Feb 8 2023, 09:42 AM
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QUOTE(jas029 @ Feb 7 2023, 03:59 PM) for my case.. i deposit RM1200 between July 2021 - Dec 2021.. i got RM180 isaraan in Mar 2022 and RM1600 between Jan 2022 - Jun 2022.. i got RM240 isaraan in Sept 2022 does that mean.. if i deposit RM1667 from July 2022 - Dec 2022.. i will get RM250 in Mar 2023? and if i deposit another RM1667 from Jan 2023 - Jun 2023.. i will get another RM250 in Sept 2023? if so, isn't the 15% (or RM250) applicable as half-yearly instead of per annum? QUOTE(CommodoreAmiga @ Feb 7 2023, 05:00 PM) If you already deposited max 1667 from Jan -Jun. Your contribution from Jul-Dec will get you nothing. Aiyo, already said max RM250 mah.You can deposit RM1K in Jan-Jun, get RM150. Then deposit RM50k in Jul-Dec, you will get the remaining RM100. ohh, now it clarifies.. meaning for my deposit from Jul 2022 - Dec 2022, i will only get the remaining RM10 in Mar 2023 right? |
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jas029
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Apr 13 2023, 10:35 AM
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just wondering for those of u that self-contribute through online banking (transfer directly from ur saving acc, not the fpx type), do u manage to set it up as a recurring transfer?
from my limited experience, i've only come across with maybank that the recurring transfer can be easily maintained..
cimb can normal transfer, but no recurring option..
rhb don't even have kwsp/epf self contribution as a payee eversince they migrated to their new online platform.. their old platform do allow recurring option though
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jas029
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Oct 11 2023, 04:03 PM
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browsing through, i suppose most here haven't got the RM300 i-saraan incentive?
wonder any idea what caused the delay? usually payout is on Sept (for contribution Jan-June) yearly
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jas029
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Oct 13 2023, 11:53 AM
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QUOTE(Jack&Guild @ Oct 12 2023, 08:05 AM) Official answer from kwsp. They said the incentives have not given to them yet. They are waiting too from the government. Only Finance Minister knows when we gonna receive this promised incentives. ah ok.. no wonder don't see the money come in.. thanks for sharing.. haven't been following this news lately |
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jas029
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Mar 5 2025, 10:33 AM
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the RM500 i-saraan we got, wonder how much allocated to acc 3? or does it even allocated there?
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jas029
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Oct 26 2025, 11:08 AM
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QUOTE(ikanbilis @ Oct 26 2025, 01:36 AM) This year could be a bit different. Only Jan and Feb 2025 contributions are credited on 24 Oct 2025. Contributions from Mar 2025 onwards yet to be credited and have to wait longer. no wonder.. got confused when i first saw it |
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