It should be the same account, only thing is that one is not able to withdraw your contributions made after 55, till you are 60. They have to close the loophole which says that members can withdraw any amount after 55.
- People can choose to fully withdraw their epf money at 55, they can also withdraw partially or keep their money there. The money or balance of money in this account can be withdrawn anytime after 55.
- Those who continue working after 55, the epf contribution after 55 will be channeled to a new account. Money inside this new account cannot be withdrawn until retirement age of 60.
They make a announcement, the people make a big hoo ha, they revert back to square one and we the people are supposed to be grateful to the gomen of the day?? I find it more and more curiouser (i know there is no such word but in bolehland can make ) They have considered our objections and because they are so damn considerate we have to actually be grateful to them???
Can the government pay us back 'less' than what we save in EPF?
I think it is possible, by increasing the inflation rate. How much is the worth of your money in EPF after a round of GST? So, when you put in RM100 in EPF now, the government took it and spend it right away, the government gets the current value, but what we get back after 30 years, even with interest added, we probably can't buy the same item we can get at RM100 now.
Does anyone know how the dividends for the last payments are calculated? Assuming one can withdraw everything at 55 and he reaches 55 in November. When he makes the withdrawal, the dividends for the year is not declared so how will the figure be calculated assuming the person wants to withdraw everything in November?
.. Assuming one can withdraw everything at 55 and he reaches 55 in November. When he makes the withdrawal, the dividends for the year is not declared so how will the figure be calculated assuming the person wants to withdraw everything in November?
The dividend will be calculated based on last year dividend rate and prorated for 11 months.