disagree.... once have abv 1 million, should just put all of one's liquid ringgit cash in EPF.

ie, what i meant is it doesn't make sense for anyone to have FD or substantial cash lying anywhere else if already have abv 1 million in EPF... free yield pickup with better credit risk than any banks in Malaysia.

small risk: bloody hell 2 days ago could not withdraw from EPF cos too many people going into epf website.... the sms tag only arrives after hours.

buy house ok, just withdraw for the down payment and that's it

those want to check balance, nomination, others not related to account 3.

better proceed to old i-akaun kwsp....

the new one have waiting period of 5min or more....

Can Acc3 opt-in be done via website?

I do agree with what you said, because if we have 2m in EPF, we can get around 120k a year dividend. That should be enough for most expenses.

Anything more than RM2M, we can do some higher risk investment, provided we have sufficient knowledge and know-how on that investment.

then why you think there's waiting period to access the new i-akaun kwsp

because it's can be done online

This post has been edited by theevilman1909: May 15 2024, 06:01 PM

Can. I have done mine. I don't use NATO but walk the talk.
I am going to withdraw, put back RM3k as self contribute for income tax purpose and another RM3k for PRS and balance throw oversea.

Once my EPF account 3 reach 10k, will withdraw it and dump it into SG banks.

curious... any particular reason why need to wait for 10K? or its just a number you choose?

Reduce my transaction cost. I am paying RM8/transaction. Yes can keep until 30-50k, but I prefer to send every 10k+

Don't say RM1m in EPF

How many actually has total net worth of RM1m in Msia?

Statistically majority of the country lifestyle is sustained by debt and housing loan until 65yo

Guess need to count the blessing if someone having RM1m in EPF and that's ~RM5,000 not a lavish lifestyle but if single (or spose have his or her own RM1m) debt free I see no prob for a modest lifestyle

Spot on 😋

No wonder Malaysia have such high debts level....

Well...
Seems like only like 1% actually have 1mil in EPF...
Not surprising.... Because many already withdraw for various reasons.... Especially for house related....

btw now they changed the requirement of thumbprint to more than 3k withdrawal instead of 10k

too many unauthorized withdrawals??

got people gotten scammed?

not sure. but seems like many unaware here. but one fine day i will go do the thumbprint la for easy access to my money.

PSA

EPF Maintenance

Date: 16 - 19 May 2024 (Thursday - Sunday)
Time: 9:00 p.m - 4:00 a.m

https://www.kwsp.gov.my/w/maintenance-16052024

This post has been edited by nexona88: May 17 2024, 09:28 AM

Even the old i-account app cannot be accessed...thought that they would hv made that obsolete by now.

Old i-akaun even faster...

No waiting period... Straight to access

But no options for account 3 withdrawal & transfer (from account 2)

Can see balance, and others stuff...

And the usual withdrawal minus account 3 flexible

Don't want EPF Account 3? Here's a new option coming soon

However, members can soon make a recurring request to transfer the funds from Account 3 to the two other accounts. This was revealed by EPF’s Head of Policy and Strategy Department, Balqais Yusoff during a recent interview with BFM.

You can specifically choose whether you want the contributions that are meant for Account 3 to be moved to Account 1 (Akaun Persaraan) or Account 2 (Akaun Sejahtera). Not only that, you will also have the choice to split and transfer the money to both accounts.

Furthermore, the option will not be a one-off thing as members can also deactivate it if they need the Account 3 funds for that particular time.

Excellent move. Make it permanent.

I dunno about the statistic..

but the place i work, my client they all... really really rich. I can see in Malaysia, there are really A LOT....you will really surprise how many rich ppl in malaysia. I mean real rich. 50 years old and above . not those nonsense young social media forex traders or those celebrate cat birthday at LV store.

but what i see a lot (maybe among the client i deal with) is actually 5% of Malaysian population