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> EPF - How to check online?

POYOZER
post Nov 2 2007, 08:35 PM


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hi guys,

anyone know how to check the current balance for EPF using online?
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David83
post Nov 2 2007, 08:36 PM


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You need to get the PIN from KWSP office.
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socratesman
post Nov 2 2007, 08:49 PM


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I can't recall exactly how i registered last time , but IIRC you need to register at the KWSP webpage first, then go to any branch and use the i-Kiosk machine to set up your activation code.

more info and faq here
http://www.kwsp.gov.my/index.php?ch=p2inde...ex_service&ac=5

This post has been edited by socratesman: Nov 2 2007, 08:51 PM
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David83
post Nov 2 2007, 08:51 PM


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I thought should be the other way. Get the PIN and then register at the website ....
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POYOZER
post Nov 2 2007, 08:53 PM


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thanks for the advice
hurmm i need to go to their centre to get the activation key

btw,,betul ka..the minimum balance is RM55k
then only can take out to do investment?
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yewkhuay
post Nov 2 2007, 10:46 PM


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http://www.kwsp.gov.my/index.php?ch=p2life...m_p2life_invest
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b00n
post Nov 2 2007, 10:48 PM


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There's already a new ruling coming out comes 1st of Feb 2008.
Check the current Fund investment thread:
http://forum.lowyat.net/topic/367939/+1820
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Jordy
post Nov 3 2007, 12:32 PM


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QUOTE(POYOZER @ Nov 2 2007, 08:53 PM)
thanks for the advice
hurmm i need to go to their centre to get the activation key

btw,,betul ka..the minimum balance is RM55k
then only can take out to do investment?
*
Eh, I thought you're currently a student..?
So fast want to check EPF balance..?
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vin_ann
post Nov 3 2007, 12:48 PM


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QUOTE(POYOZER @ Nov 2 2007, 08:35 PM)
hi guys,

anyone know how to check the current balance for EPF using online?
*
QUOTE(David83 @ Nov 2 2007, 08:36 PM)
You need to get the PIN from KWSP office.
*
yaya...
you right
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yewkhuay
post Nov 3 2007, 09:21 PM


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QUOTE(b00n @ Nov 2 2007, 10:48 PM)
There's already a new ruling coming out comes 1st of Feb 2008.
Check the current Fund investment thread:
http://forum.lowyat.net/topic/367939/+1820
*
1feb2008 ? where is the original source other than the pic posted in investment fund corner? unsure.gif
the kwsp website still put 50K..... sweat.gif
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b00n
post Nov 3 2007, 11:28 PM


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It should be page 91 after I read The Star.
http://forum.lowyat.net/topic/367939/+1800
QUOTE
EPF scheme to help members save more for retirement
By PAUL CHOO

paulchoo@thestar.com.my

KUALA LUMPUR: All Employees Provident Fund contributors will, from Feb 1, be able to withdraw part of their funds and channel them to approved investment programmes.

Under the new scheme, contributors, irrespective of age, will be able to withdraw from Account One what is in excess of a "required amount" of savings as determined by the EPF and invest the money in unit trusts.

Currently, contributors can only do so if they have in excess of RM50,000.

This is one among a range of changes that the EPF is implementing in stages to make it easier for contributors to exercise the option to augment their savings for their retirement.

Using the tagline "Beyond Savings", the EPF also hopes the changes will ensure that contributors have enough money for retirement.

Other changes include:

# MORE flexible withdrawals for contributors at age 55;

# ALLOWING withdrawal of any amount irrespective of age for savings in excess of RM1mil;

# ALLOWING withdrawals from Account Two for critical illness insurance; and

# WITHDRAWALS for housing loan instalments.

These changes were revealed by EPF chief executive officer Datuk Azlan Zainol at the fund's headquarters here yesterday.

Azlan said the EPF has established a set of "required amounts" for contributors depending on their age.

The amounts are based on the assumption that a person would need at least RM120,000 - or RM500 a month - from retirement at 55 to age 75.

He said a contributor could withdraw 20% of the amount in excess of the required amount for investments in unit trusts.

"For example, if a 25-year-old has RM20,000 in Account One, he can take 20% of the excess to invest once every three months. This is because his required amount is only RM9,000," he said.

For those who have reached 55, Azlan said that from Nov 1 they would have several options: withdraw everything they have, go for monthly withdrawals of at least RM250 for at least one year, or withdraw at least RM2,000 at any one time.

Currently, members aged 55 can only choose to withdraw the entire sum, withdraw only annual dividends, or take out monthly amounts but for at least five years.

Azlan said there would also be changes to the procedures for age 50 withdrawals.

From Jan 1, 2013, those who reach 50 would only be able to withdraw any amount from Account Two if their Account One has at least RM90,000, the required amount for that age.

On using EPF withdrawals to pay housing loan instalments, Azlan said that although the money would be banked straight into the contributors' accounts, it would be liasing with the banks to ensure that the loans are properly serviced.

"If they fail to pay their instalments for three months, the bank will inform us and we will stop payment to the contributors," he said, adding that this scheme would start from Jan 1.

Azlan said that from Nov 1, those who had more than RM1mil in their savings could withdraw and invest the excess amount anytime. He said there were about 4,700 contributors who had more than RM1mil in their accounts.

Tables had come out and most of the fund's sales person had the rough idea already. But in my opinion, those tables I don't think it's been finalised yet by KWSP.
But problem is it's going to be only local funds. That's the bummer.
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arthurlwf
post Nov 5 2007, 11:32 PM


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Go to KWSP office to register and immediately ready to online after the registration in KWSP office.

I went to one exhibition at PWTC and register at a KWSP booth, and able to online after few hours... rclxms.gif
Thumbs up for the efficiency !!!
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David83
post Nov 7 2007, 11:55 AM


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Some EPF related news:

EPF to double investments abroad

KUALA LUMPUR: The Employees Provident Fund (EPF) plans to double its holdings of overseas investments, seeking to boost returns.

"We have invested almost US$2bil this year and we should double that by next year," chief executive officer Datuk Azlan Zainol, who manages the US$88bil fund, said in an interview.

"We are very cautious and we want to take our time," he said.

The EPF had been given approval by the Government to invest another US$2bil in Islamic equities and bonds overseas, and the fund aimed to raise its total overseas investments to 10% of its assets over the next five years, said Azlan.

Malaysia follows South Korea's state pension fund, which said last month it would boost overseas stock holdings to 10% by 2012, from almost nothing currently.

The bulk of EPF's assets are invested onshore, primarily in government bonds, where yields on the nation's benchmark 10-year debt is about 1 percentage point less than similar-dated Treasuries.

The fund earned RM9.84bil gross income from investments in the first half of this year, or 3.3% of its invested assets.

The same growth in the six months through December would beat the 4.7% annual gain in 2006, according to data published on its website.

The fund paid out RM13.4bil to members in 2006, equivalent to a 5.15% dividend rate, the most since 2000. It paid 8.5% between 1983 and 1987, the highest since its inception in 1952, according to fund data.

"Our internal target is to give members 5.25% to 5.5% in dividend this year," Azlan said. "Our performance this year has been good."

URL: http://biz.thestar.com.my/news/story.asp?f...34&sec=business
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David83
post Dec 6 2007, 11:38 PM


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EPF invests RM300bil in first 6 months of 2007

KUALA LUMPUR: The Employee's Provident Fund has invested RM301bil as at June 30 this year, Finance Ministry parliamentary secretary Datuk Seri Dr Hilmi Yahaya told the Dewan Rakyat.

He said that of the amount, RM104.21bil or 34.6% was invested in Government securities, RM112.15bil or 37.2% in loans and bonds, RM58.64bil in equities, RM24.72bil in instrumental money market and RM1.72bil in properties.

Hilmi said the EPF would have to reduce its 82.7% stake in RHB Capital to 35% by July next year, in line with Bank Negara requirements.

On RHB's financial performance, he said it had posted a considerable jump in revenue and profit for the first half the current financial year.

In his reply to Loh Seng Kok (BN - Kelana Jaya), he said RHB Capital's net income increased by 12.3% to RM1.03bil for the first half of this year while income from RHB Islamic Bank rose by 97.5% to RM184.1mil.

He added that profit after the INCPS (irredeemable, non-cumulative convertible preferences shares) dividend but before taxes and tithes, stood at RM560.9mil, a 38.3% increase, compared to the first half of 2006.

URL: http://thestar.com.my/news/story.asp?file=...5452&sec=nation
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