A guide for what to do with your money in EPF Acc, Epf
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 May 12 2024, 09:29 AM
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#1
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Senior Member
4,954 posts Joined: Jul 2010  
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1. Should you maintain the split of 70/30 for your existing fund or opt for initial amount transfer to Acc3?
Are we given the option to maintain 70:30? I thought regardless of whether you transferred to Account 3 or not, future contribution ratio will change? |
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May 12 2024, 09:37 AM
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#2
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Senior Member
4,954 posts Joined: Jul 2010
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QUOTE(Emily Ratajkowski @ May 12 2024, 09:32 AM) Correct As account 1 is only accessible when one is 55 (instead of 50 for account 2), I don't like it when it's raised to 75% of contributions. Another 5% if contribution "locked" up.There is no option to remain it using the old allocation. But you can tell EPF to reinvest account 3 into 1 and 2. You need to fill up a form though.  jonthebaptist liked this post
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May 12 2024, 09:41 AM
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#3
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Senior Member
4,954 posts Joined: Jul 2010
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QUOTE(Sesshoumaru @ May 12 2024, 09:35 AM) That is the exact downside which does not make sense for me in my current scenario. I already have account 2 ready to be used for housing loan purposes. It replicates liquidity for me, as I can remove my housing loan commitments up to the amount in my account 2 (thus freeing up my income stream for other purposes which can be used just like account 3). Opting for the initial transfer locks out 5/30 of my 'liquidity' of account 2. If one has MYR 100k in account 2, that means MYR 16,666.67 locked. Those between 50-55 are worse off than you. They already have full access to the fund in Acc2, and now their future contributions will have 5% less going into account 2. jonthebaptist liked this post
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May 12 2024, 11:32 AM
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#4
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Senior Member
4,954 posts Joined: Jul 2010
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QUOTE(h4r8_kIlLeR @ May 12 2024, 10:43 AM) I haven't been following. How much is the dividend in acc 3 compared to account 2? Same interest, for the time being. QUOTE(ry8128 @ May 12 2024, 11:06 AM) By default is opt in or opt out? Opt in to what? All 3 accounts are already automatically created. |
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May 12 2024, 11:35 AM
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#5
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Senior Member
4,954 posts Joined: Jul 2010
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QUOTE(h0riz0nLine @ May 12 2024, 10:10 AM) Serious question, would like to apply for withdrawal to close one of my credit card account for good. Is it better long term? What's the reason for closing the cc account? You mean using the money to clear the debt in your cc, which otherwise you won't be able to clear off (and accumulating monthly interest)?The remaining amount would be put into blue chip stock. |
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