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Saturday, January 5, 2008

Chance for you to increase the return of your EPF savings

I've been waiting for this chance for a long time and now it will be realized. Before this only high income individuals or who have been working for a long time will be able to invest their EPF savings in the unit trust.

Beginning 1 February 2008, 11.4 million EPF members can invest as long as their account 1 amount exceed the required savings amount.

The basic amount that each members have to have is based on their age:
1) 25 years old (RM9,000)
2) 30 years old (RM18,000)
3) 35 years old (RM29,000)
4) 40 years old (RM44,000)
5) 45 years old (RM64,000)
6) 50 years old (RM90,000)
7) 55 years old (RM120,000)

The basic quantum of saving will be access every five years.

Example of calculation: Ali is 30 years old and has RM30,000 in account 1. For 30 years old the basic saving/min that they must have in account 1 is RM18,000. So the amount that he can invest in UT is 20% from (RM30,000 - RM18,000 = RM12,000), amounted to RM2,400. The investor still will have to pace their saving to every 3 months. Same as before.

Table below show the real return that you as EPF member get from EPF savings:

Year2001 2002 2003 2004 2005 2006
Dividend Rate (%) 5.00 4.25 4.50 4.75 5.00 5.15
Inflation Rate(%) 1.40 1.80 1.20 1.40 3.00 3.60
Real Dividend Rate (%) 3.60 2.45 3.30 3.35 2.00 1.55



So to all EPF memmbers, lets' put your EPF saving into a higher return vehicle....

4 comments:

Anonymous said...

I'm 31 yo. How do i calculate that?

Becky said...

Can i know where u got this information?
Regards, Becky Law

KakTi said...

The news was publish in Utusan Malaysia on 22 October 2007.

KakTi said...

anonymous,

I'm not sure about the calculation as there is no more detail on this. But most probably the same as 30 yrs old.
The act for this is already created (Ive seen it on KWSP website) but no details are given out yet. We just get the info of what was publish from the newspaper.

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