Zakat 2.5% is not based on 6k return? How come your principal kena zakat as well?

More info here at Q&A page.
https://www.kwsp.gov.my/account-restructuring

Can transfer back to account 1 or account 2 from account 3.

I think if you have 300k or more in ACC2, you probably don't need the 100k in ACC3. You either already did pretty good for yourself to have additional savings and liquidity somewhere else or are already close to retirement.


To me ACC3 is pretty much useless unless maybe a quick way to get funds lets say for a medical emergency. But we all know what people will spend ACC3 monies on.

This post has been edited by jaycee1: Apr 25 2024, 03:20 PM

Zakat has always been based on principal, not on the returns.

But for epf theres an exemption where u only start paying zakat every year once you reach 55 age

This post has been edited by Boy96: Apr 25 2024, 03:23 PM

Not whole year la..once the money is yours eg 50 and 55 yo then can calculate based on the amount you get

just in time can use acc 2 to buy macbook

Ya. Patut ramai once hit umur tu, withdraw all masuk tabung haji

I will put some money into Acc3.....in-case something CB happen.

BTW, money from Acc3 can transfer to Acc 1 / 2 as contribution.
I just put 10k in Acc3.

This post has been edited by RegentCid: Apr 25 2024, 03:27 PM

By introducing AC3, the govt now secures even more money into AC1 if those choose to opt in.

Nice move.

Sure or not?

I thought all personal contribution is also splited up by account 1 and 2 (before account 3 is announced).

Can pick which account to contribute?

Better withdraw account 3 and put into physical gold.

This post has been edited by KarchKiraly: Apr 25 2024, 03:30 PM

Withdrawal - online can do
To transfer from acct 3 to acct 1 or 2 - must goto kwsp fill form 🤦🏻‍♂️

This post has been edited by N9484640: Apr 25 2024, 03:33 PM

There should be an auto opt in/opt out option.

It will split 1/3 from your account 2 into account 3.
My Account 3 after split from account 2 amount approx. Rm17k

Extra 7k will contibution back into Account 2

The split is not automatic one, I thought need to apply?

Starting May 12 - August 31.
You can choose OPT in or no OPT in.

NO OPT IN, means remain same......Account 1 & 2 ...Account 3 will remain zero forever. EPF money will remain 70% account 1 , 30% account 2.

If you choose OPT In....account 3 automatic take 1/3 amount of your money from Account 2.


This post has been edited by RegentCid: Apr 25 2024, 03:47 PM

People with 1m will still withdraw. Let's say if you have 1010k in EPF. You can only withdrawax 10k. Unless you want to buy house or other reasons, you can't touch your 303k in account 2.

Now with this account 3, I can withdraw 101k from my account 2 and put as down-payment to buy a BMW. I get to piap more girls, BMW salesmen happy, gomen happy.

There should be a one button press to change distribution to 85%-15%-0%

But I guess they want us to withdraw deposit as it will increase their kpi

maxed the 4k compulsory, still got 3k voluntary right? (unless life insurance already maxed as well)

Opt in for initial transfer from acct2 to acct3. If you don’t opt in, your acct3 will start with zero and upcoming contribution will split to 3 account

Everyone will have account 3!

This post has been edited by stevenryl86: Apr 25 2024, 03:50 PM