Anyone know what is the latest news on KWSP a/c 3? What's the Criterias?

Should i contribute more in KWSP as the rates are so high than other investments.
Want to know if withdraw it will be easier than a/c 2.

Last year Gov announced that it will be implemented on April 2024. 3-4 more weeks to go.

3-4 more weeks to go, but it is not yet time

April 2024 means end of the April 2024 also can, not April 1st must announce

Earliest info will be shared after Raya only.

Meanwhile, can keep the money in ASN

This post has been edited by Natsukashii: Mar 11 2024, 02:08 PM

ASNB i cannot leh... only for Bumiputeras, right?

Look for some infos of KWSP a/c 3 via Bing Copilot
It is for
- for emergency
- certain percentages only can be withdrawn
- only for new members (born after 2010) -> NOT SUITABLE FOR ME
- proposed 3% - 5% dividends
- proposed only, finalise to be announced again

End story... not for me

What is ac3 for?

Put in versa or tng better

Wah join 2024

ASB = amanah saham bumi (only for bumi)

ASN = amanah saham nasional (for both bumi and also non-bumi)

ASNB = amanah saham nasional berhad (that is the company that provides asb and asn)

flexi

but wont yield standard rate as those "fixed" account

I will definitely opt out of such stupid change.

Put money in Account 3 with much lower return is stupid move for a forced saving retirement fund.

I hope the creation of account 3 will not affect the overall performance of EPF return.

Amik keluar and invest on your own breh

🤭🍟🍷👀

This is almost impossible as they need to set aside certain amount of money for the unconditional withdrawal at anytime.

Most who withdraw from account 3 will be using it like all the previous 10k iPokai, very few will actually withdraw to invest on their own.

That's what I'm worry of

Ngehehe. Not moi

👀🍷🍟🤭

Kabel besar ni.

When you want EPF to be a bank, but they are not a bank.

ASN is for bumi only la

Non bumi only can buy ASM

Mana mana lah ASN ke ASM.. janji either one non can buy

u just migrated to my? didnt know my is mainly talk cock sing song only meh?

20k ktards don't bother about it

if dividend below 4% better don't bother to put, nowadays FD rate promo pun ada 3.7-3.9% p.a.

Invite code user is such a rarity. How old? If more than 30 years old mean no difference since no young blood joining

AC3 for teenage only?

If tak mau, just opt out

Versa & TnG ??

what is Versa? can explain more a bit. Appreciate with Thanks

TnG later i go explore. Thanks for recommendation.

A/C 3 is enable ppl to withdraw easier than a/c 1 & 2. Different criterias as a/c 1 for pension, a/c 2 for housing, medical, school, investment, etc etc

Currently they proposed A/c 3 is for
- for emergency withdraw
- certain percentages only can be withdrawn
- only for new members (born after 2010)
- proposed 3% - 5% dividends
- this are proposal only, finalise to be announced again soon

EH.... i dunno this one leh. Me like "Katak di bawah Tempurung" la... LOL
ASN = amanah saham nasional (for both bumi and also non-bumi)


Thanks for the tips. Will explore it.

This post has been edited by KennethPong1026: Mar 12 2024, 10:07 AM

Let's wait for the final announcement

Noted. Thanks for replying

born after 2010? how can that be possible? they are not even old enough to have a job

ASN also for non-bumi ka. Will find out more.

Historically, ASN dividend higher or lower than KWSP?

True .... u got some points there, but it depends on individual.
Whether they have enough cash flow in hand, or whether they want to play around the rates between their commitments.

A/c is kind of flexi a/c, I simplify it like below :
a/c 1 is for retirement funds,
a/c 2 is for emergency + investment + retirement, and
a/c 3 is for emergency + investment + retirement (but for born after year 2010, 24 years and below)


So, not all ppls can opt it, GoV are trying to ease Young ppls coping.
But, a/c have higher rates than fixed deposit which is good.
FLEXIBILITY WITH HIGHER RATES

why the need money, ts want go cheong , travel and spend on hobby it is or parent medical issue ?

ASM ??
APA ITU? ;D

Diao. Only for 2010 acc and after

Zzzz

Some may worked already after SPM.
Say... for my situaton, when i was studying at college after SPM, i do some part time jobs at the age of 18. Some jobs do contributes EPF even part time.

It has been corrected, ASN is not for non.

ASM is for both bumi and non.

Amanah Saham Malaysia

Dividend lower than KWSP

Credit for correction (post #17):

This post has been edited by Natsukashii: Mar 12 2024, 10:40 AM

You can't fulfil all ppl's wants. Lol

Let me give you a situation.

Let say you have 2 properties (A & B) under semi flexi loan with mortgage interest rates of 4.2% per annum.
Property A have loan of RM400K remaining, and you just sold property B and earn extra cash of RM200K in hand.

The idea is where to invest this RM200K.
Scenario 1 : Put in semi flexi loan, then your loan of total RM400K, RM200K will be without interest. (you saved interest or RM200K x 4.2% anually)

Scanario 2 : Put in EPF a/c 1 & 2 ( You gained RM200K x 5.5% anually & accumulating)

So, Scenario 2 looks more profitable than Scenario 1.
But Sceanario 1 can withdraw it out anytime with charges, Scenario 2 cannot withdraw cash out (for A/c 1 & 2)
If Scenario 2 got a/c 3 which can withdraw, itu lain cerita sudah.

This post has been edited by KennethPong1026: Mar 12 2024, 10:58 AM

Acct 3
i think the syarat syarat, very strict.
1. betul betul pokai need money can withdraw
2. gaji must be 3k and below
3. show tak ade masu epf, income into any bank
4. once keluar sekali, one year once.

Proposed yes... waiting for final confirmation and announcement.

SPM? i tot 2010 - 2024 = 14? unless my math is wrong la, i dont think SPM is taken 14 yo

Google versa ..download and their offer 4% annum for first rm30k saving

Lol... it is for example only. Think out of the box la.
Government actually set 2010 because the minimum age for employment at our country is 14 years old.


Some may also work during school holidays or on weekends on early age before SPM.
Or some business owner may put their children on employment at their own company to for some purposes, etc etc.


It depends on your perspectives and how you see it also.

So can withdraw or not? For year born 1989?😐

I don't want beg people to borrow 😐

This post has been edited by nicole_4ever: Mar 20 2024, 09:22 PM

There's onlyfans. You will never have to beg...

My both accounts got money.

So can withdraw or not? 😐

It's 2H April already. No announcement?

Main account return better.

Hehe that's what I thought. I was always told minimum age for epf was 14. So I googled last time

https://www.kwsp.gov.my/employer/introducti...or%20employment.

Does the EPF set a minimum age to contribute? There is no minimum age limit, every employee is liable to contribute. However, Act 350 - the Child And Young Persons (Employment) Act 1966 (Revised 1998) has set 14 years old as the minimum age for employment.

It probably stems from this I think.

In the 90s part timers who were 15 and 16 were common during school holidays but has been steadily replaced by permanent and foreign workers

i also would like to know, this account 3 has been talking for months.

My thought of Account 3 is same like ASB, Tabung Haji.

You put money inside, let it rot for a while. U get dividend every year, and u can withdraw anytime u want.

Just same concept like ASB and Tabung Haji

to the top topic once again

TLDR so far

-Account 3 = saving account, can withdraw anytime, might get token payment if no withdraw are made but lower than the dividend acct 1 and acct 2

-75% = acct 1 , 15% = acct 2 and 10% = acct 3

-the account 3 is optional so far.

-as 17/4/2024 ,it is unsure how the dividend will be calculated.