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.

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- certain percentages only can be withdrawn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

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- certain percentages only can be withdrawn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

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

ASM ??
APA ITU? ;D

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.

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

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

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.