Let just say I have a stack of cash waiting to be investing and I see EPF as a safe haven to protect my funds.

I’m aware that EPF would need the person to be in retirement age only can withdraw the funds out

I was thinking to put my cash inside my parents EPF (since they already over 55) as self contribution. It provides liquidity since they can withdraw it anytime for me since they are above 55

Is it possible to do such thing ?

Parked as I want to know too

Yes you can. Just ask them to deposit and withdraw the cash for you. Under their name since it is their account.

Not mistaken retirees can only put in maximum RM60k per annum. So if you withdraw more than that, you cannot put in the same amount anymore.

Also, later you have dispute with parents about the money. Unlikely but can happen.

Good idea indeed...

Max is 60k per year

All the best

What do you mean by if u withdraw more than that, u cannot our the same amount anymore ?

As far as I know, 60k is the max u could self contribute. But u can withdraw any amount u wanted whether is it 50-100 or even 1M

Means that if TS took out RM120,000 from his parents' EPF, TS cannot put in RM120,000 back immediately.
TS has to wait 2 years to finish putting in. With that, TS and parents can lose out on EPF interest.

Also, it can be a selfish move as TS' parents may want to self-contribute and TS' actions affect them.

Char siew

Deposit and withdraw diff la haha, u can withdraw any amount but deposit only 60k per year

Gg la if i got 1m to withdraw then forever cannot deposit

If u withdraw u char siew

Good idea. Ts please let us know if success

So let's say my parent is 53 now, if I transfer money to them to self contribute, they can withdraw freely right once reach 55?

Yes, approved

When GG, can divide the money among the siblings, favourite son n so on.

Thank you for ur contribution