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Category: EPF
EPF

EPF’s 2024 shariah savings dividend may beat conventional savings.

We know EPF is doing exceptionally well thus far for 2024. Way better than the 2023. Thus, expectations is that there is a possibility to exceed 6 percent dividends for 2024. I know, we could not touch the money until our retirement but it’s still a very good news. Last year, the dividend was very close to 6 percent. Below are EPF’s dividends over the years. Yes, we can see a 5 percent (except 2020) has been very much the theme.

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ABCs of Personal Finance

EPF members, higher dividends are possible for 2024.

EPF’s investment has been doing well actually. In fact 3Q24’s performance was very strong. Here’s the report: Article in thestar.com.my So, what does this mean to all the members? I know, we are unable to touch the money before we retire or well, you want to touch that Account 3… However, for the majority of us, the compounded interest continue to happen every year with EPF’s dividends. Thus, this is a good news indeed. Perhaps read what the analysts are saying. They have access to more numbers and can certainly do a better research too.

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EPF

EPF’s distributable income gives me a smiling face

EPF has a total of over 8.6 million ACTIVE members and this includes me. So, anything positive about EPF is something positive for me and all the active members too. I mean if the member is inactive but they have funds in the EPF, they will be happy too since they will also be receiving higher dividends when the EPF is doing well. Last year was a good year and this year it seems that things are even better too. Let’s read on to understand what is happening in the first half of 2024 where incomes are concerned. Good news!

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ABCs of Personal Finance

EPF News: Aim to save RM1 million by 60 years old

Well, if we did not withdraw any amount and we continue to save from the day we started working at 25 until the day we retire at 60, chances are the amount will be substantial. The reason is simple, if we are working, we save 11 percent of our pay while our employer will put in 12 percent. In other words, at minimum, we have a total of 23 percent of the salary being saved every month for 35 years. Just the savings alone?

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EPF

Enjoying EPF’s dividends? Self-contribution is possible yeah

Ever wondered what’s the EPF dividend per year? How about stretching it longer and see how it has been for the past 20 over years? If you guessed that it’s higher than the fixed deposit rate, I think you are right. In fact in recent years, when the FD rates are so low, EPF is like a beacon in a storm. Still shining through to give us decent returns for our hard-earned money / contribution. The below is the average since 2020 – 2022.

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ABCs of Personal Finance

EPF News: EPF says when we reach 30 years old, we should already have RM3x,xxx in our EPF account

EPF says that it would like its members to aim for a basic savings of at least RM35,000 by the age of 30 in order to meet the minimum amount required for sustaining life after retirement. This amount is RM240,000 as per what EPF has announced on many occasions. If a member has RM240,000 then this member would be able to have RM1,000 per month for the next 20 years post-retirement.

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