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 Company benefits - extra 3 percent KWSP, after work more than 10 years

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v1n0d
post May 8 2021, 12:25 PM

Another roof, another proof.
*******
Senior Member
3,197 posts

Joined: Mar 2007
From: Kuala Lumpur, Malaysia


QUOTE(Helpmeplis @ May 8 2021, 01:59 AM)
I'm from one of those top Management Associate Program from one of the top local investment bank. Guess what resigning from it was the best move I did lol !!

I was paid 4k (I was 23 at that time) & I enjoyed the perks ( 24 days AL & 16% EPF). However, honestly speaking, the juice is not worth the squeeze. I once saw my senior colleague's pay slip & I was totally disappointed ! He was only getting paid 6k after being there for 3 years as an analyst!! After all that crazy long hours, the pay totally doesn't reflect the effort. This is when I knew, this is not the path that I am going to take.

I resigned & I pursued master's degree in field of my choice. Now, I am getting paid more than double of what those "investment bank" was paying me. Honestly, local investment banks are a joke.....

You can refer to my previous threads for proof .....
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With banking you have to jump every 3-4 years. Staying in the same place is a bad idea because the upward mobility is limited unless you play the politics well. Even then I still feel it’s better to jump because each time you do, it’s 20-30% increment or more.
v1n0d
post May 8 2021, 12:29 PM

Another roof, another proof.
*******
Senior Member
3,197 posts

Joined: Mar 2007
From: Kuala Lumpur, Malaysia


QUOTE(plouffle0789 @ May 8 2021, 12:27 PM)
Every bank have 24 annual leave and 16 percent kwsp?
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Annual leave yes. KWSP not all banks do direct 16%. Mine is 12+4, where the 4% is put into PRS.
v1n0d
post May 8 2021, 12:36 PM

Another roof, another proof.
*******
Senior Member
3,197 posts

Joined: Mar 2007
From: Kuala Lumpur, Malaysia


QUOTE(plouffle0789 @ May 8 2021, 12:34 PM)
Total only 8
PRS Providers
In malaysia
Affin Hwang AM
AIA

AmInvest
Kenanga Investors

Manulife Investment Management
Principal Asset Management by cimb bank

Public Mutual
RHB AM
So do you work in

Affin bank

Or

ambank

Or

Cimb bank

Or

public bank

or

Rhb bank  ?

Wonder why maybank do not get this license.....
Largest bank in malaysia
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Your assumption is that the bank invests with their own PRS provider. Not necessarily true. RHB is direct 16% EPF.
v1n0d
post May 9 2021, 12:08 AM

Another roof, another proof.
*******
Senior Member
3,197 posts

Joined: Mar 2007
From: Kuala Lumpur, Malaysia


QUOTE(plouffle0789 @ May 8 2021, 12:50 PM)
But your working bank should be using own prs right?

Impossible maybank use principal prs by cimb or public mutual prs as staff benefits?
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Yes correct. Just pointing out that not all banks give the partial PRS option despite them having fund management under their banner.

 

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