Our EPF savings are now distributed into three accounts. The monthly contribution of members would be channelled to Accounts 1, 2 and 3 in the proportion of 75%, 15% and 10% respectively. In other words, if you earn RM5,000 and your company pays 12% into the EPF, the calculation would be as follows:
Personal Finance 101: Is EPF savings not enough or people spend it too fast? Money Not Enough or Money Spent Unwisely Let’s take coffee as
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.
EPF news: Great performance in 2023 and the headwinds in 2024 What’s the dividend for EPF savings for 2023? Nope, the dividend percentage has not
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.
Malaysians on average will live to nearly 80 years old. In other words, we do need a lot of money to sustain us after we retire at… 60? Or perhaps just work till 70, then it’s easier too. It’s a choice if we remain healthy and able. Okay, what’s the reality on the ground. Do Malaysians actually have enough funds to retire? Perhaps we look at how much a 54 year old Malaysian has in their EPF account? That should give us an idea of the life post-stable income years.
Let’s be honest. Every working Malaysians would want to have higher salary every year; salary increments. Even if I am an entrepreneur, I also want to have a higher pay for myself every year versus the year before. Typical salary increments are usually said to be between 3-5 percent. Well, except for some talents who are harder to find and thus may be able to demand a salary increment which is many times higher. Else, 3 to 5 percent does seem like the typical.
EPF News: 10 things about EPF you may want to know about Who is EPF? KWSP or also known as Employees Provident Fund (EPF) will
Personal Finance 101: Could we survive with RM42 per month? Failure to save is failure to be safe There are many reasons why EPF is
EPF News: Flexible Account to provide for emergency withdrawals Emergency is really a subjective matter Actually, many who withdrew from EPF for ’emergency’ may not
EPF News: Wow… very good news indeed for 2023 thus far If EPF’s investment income is better than the year before, that’s a good sign
EPF news: At minimum, one should have RM240,000 when their income stops How soon could we save RM240,000 on our own? Regardless of how much