I am thinking to request to increase from 11% to 16%, save for the future provided epf rate is very nice.

What do you guys think?

As a salaried employee, you have the choice of contributing more for better savings. You or your employer (or both), may voluntarily contribute at a rate exceeding the statutory rate as long as you meet the requirements.

B40 say thank you, next month boleh withdraw lagi

self employed contribution

per month up to 5k

just bank-in will do

https://www.kwsp.gov.my/member/contribution...lf-contribution

This post has been edited by fantasy1989: Mar 25 2022, 09:18 AM

/k will say sendiri invest better

BBB UUU

Can you contribute 100% of your post tax salary?

first question you should ask yourself...

does your lifestyle have a higher chance to live past 55/60 years old?

if no then just YOLO.

like smoke/drink/ketum/boba tea/KFC/Texas/Mcd everyday.

This post has been edited by mafioso: Mar 25 2022, 09:19 AM

No need increase contribution from salary, just self contribute via online banking.

All in Dnex! Can make 30k. Lol.

Depends on you. If you wants to keep long term passive investment with safe and good returns, can put in more. If you want to have more cash for other investment, you probably want to have more liquiditybin your hands. But if you have nowhere else better to put, then it's a good option.

This post has been edited by c64: Mar 25 2022, 09:20 AM

i did put in more last year, epf even email me to continue put more. kek

if your'e below 1mil and far from it.. go ahead...

You can do self contribution directly from most banks online to your EPF account. Zero hassle.

One year max rm60k. Can transfer one shot.

better use the money to offset housing loan.

Dnex always on my watchlist, when chance come I will not hesitate to buy again

Nice, year end I pump. Go bursa roll the money first, after win pump back to EPF

one-off contribution?

anytime also can?

or is it must be committed to be every month?

You can do voluntary contribution up to 60k per year

how about the timing? You can just bank in anytime as you like?

like let's say bank in 2022 once, then after that didnt bank in anymore next year.

Any time. Any amount. Only have limit of 60k a year.

Depends on what stage in life you are. EPF is a very good choice.

The only drawback is, it is not easy to withdraw in case of emergencies.

better than FD

i think that would be a good choice... i did that for 3 years...from date i start working. now change back to 11% as i need it to pay for house.

Yes. Limit is Rm60k per calendar year. And they calculate dividend from the time you paid in.

no thanks. prefer to invest somewhere else. can get 5-6% rate as well. and can withdraw anytime

Can gov staff contribute to epf if they want?

Kasi tips, boss!

Disagreed. Housing loan interest rate less than 4%, EPF dividend is higher.

Maybank2u - Pay - Payee - EPF

I say go ahead. I have some of my epf in external unit trust for diversification and they seldom perform as consistently as epf. If you can spare the cash to commit and are lazy to look for alternatives it's a safe, fuss free bet. I've been contributing extra for years.

you should study what is monthly rest and daily rest interest.

try ask around... those took 30 yrs loan... after 15 years.... principle debt reduced 50% or not..... its not.

Oh ya you're correct. I totally forgot that EPF dividend is paid annually, while housing loan interest accrued monthly.

My bad

You can just bank in any amount more you like yourself no need to forced 16%.

I'm quite fond of epf but, with contribute 24% from employee and employer monthly, is good enough.

The Extra bit u intend to put in epf can try on other investments, where u can withdraw before age 50.

Though u must treat these few investment just as epf, don't withdraw unless is absolutely necessary. A long term index fund would be a good idea.

EPF dividends is calculated based on daily rest.
Housing loan is also daily rest.

Eh? How?

Meaning really more worth it to put more info EPF than pay for housing loan?

are you sure EPF on daily rest?

"Your dividend is divided into two types of calculations – annual compounded dividend and pro-rated monthly dividend. Both of these calculations are on daily rest – which means your dividend will be calculated based on the previous day’s outstanding balance."

https://www.imoney.my/articles/what-does-th...to-your-savings

daily rest but not compounded daily though...
sorry i failed maths so for further explanation go read imoney's website

If do self contribute via online , it will go to acc1 or 2?
If go to acc2 thn good la , can park money and withdraw to buy hse later

Same like salary, 70% to Acc1 and 30% to Acc2.

May i knw the max self contribution RM60k is include the auto contribution from working salary?
Mean if my annual salary dy auto contribute around RM20k thn i only can do self contribution max RM40k ?

No. Separate.

to me its better now, later increase percentage worker said cost of living high but salary still low.
better save in bank or invest.

Continue to put till 2 million balance so that you can retire with high dividends

for bn to songlap?

Got many other option other than epf ma

Research

No. The 60k is known as Voluntary contribution. Meaning it is on top of your contribution from your salary.

If i pump into my parents kwsp acc (total RM120k) annually since thy both already pass retirement ages can withdraw anytime , does it sound good plan?

Bro pump into your own, after 1mil freely withdraw. Better than all those trust fund

ah nehhh voluntarily satu!!!!!!

Absolutely. Be mindful that deposit after 55 years old can only withdraw after 60 years old.

This post has been edited by poweredbydiscuz: Mar 25 2022, 11:56 AM

Bro the base 1m cant withdraw need wait till 55/60 yo lor , susah mcm ni haha .
If pump into parents account can withdraw full amount anytime ma .

Yes bro. But if you have 1m, you won't care about the 1m anymore. You will be very excited when they are going to announce dividend every year and you won't want to take it out