tag:blogger.com,1999:blog-6297413898275266606.post5384694159543570792..comments2024-03-27T18:15:59.096+08:00Comments on Economics Malaysia: Increasing the EPF Withdrawal Agehishamhhttp://www.blogger.com/profile/06265308095732759923noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-6297413898275266606.post-54548256559064890302015-04-29T15:59:19.229+08:002015-04-29T15:59:19.229+08:00@anon 1.52
This goes back to the question of wher...@anon 1.52<br /><br />This goes back to the question of where the line between social good and personal responsibility lies.<br /><br />Nearly 80% of EPF members on retirement have less than the amount they would need to stay above the poverty line. I saw a presentation by EPU last week that showed 25.5% of households in the bottom 40% of the income distribution are headed by men and women above hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-47262193786621601252015-04-29T15:49:47.142+08:002015-04-29T15:49:47.142+08:00@Mat Bonk
Again, both different dividends and cap...@Mat Bonk<br /><br />Again, both different dividends and caps have been considered, but I can't comment any further than that.hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-63479434764853354482015-04-26T01:52:52.250+08:002015-04-26T01:52:52.250+08:00I hate to say this, at 55 years old, they are adul...I hate to say this, at 55 years old, they are adults, way beyond adults. If they still do not know how to save and spend everything on a brand new car or renovating their houses or go for expensive travel. I think they deserve it.<br /><br />Goodness gracious, they are adults, stop treating them like a 5 years old kids.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-87720366859232472232015-04-25T23:44:02.598+08:002015-04-25T23:44:02.598+08:00It is 2003 all over again.It is 2003 all over again.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-83631285151791497732015-04-23T14:41:24.122+08:002015-04-23T14:41:24.122+08:00Or we can be creative and set a cap to provide div...Or we can be creative and set a cap to provide dividends only to those with a balance of less than RM1 million. Or reduced dividend to high income earners. Alas, without a transparent way of calculating dividends, EPF could just adjust the returns and no one will be the wiser. Rewarding "old timers" can also serve to choke the entrepreneurial spirit. It is like rewarding people to Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-83953622396320606772015-04-23T11:40:46.531+08:002015-04-23T11:40:46.531+08:00The leakages are to pacify the pampered "poor...The leakages are to pacify the pampered "poor" Malaysian masses. Politician are guilty of playing to gallery to the detriment of the future financial health of the populace.<br /><br />Try giving 4% return and say that is better than Singapore CPF. Ahaks.<br /><br />However, I am amazed that EPF did not seem fit to reward "old timers" who did not withdraw from their account, Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-30866860757007313742015-04-22T22:21:33.464+08:002015-04-22T22:21:33.464+08:00Not during my time. 20% employer, 20% employee. 19...Not during my time. 20% employer, 20% employee. 1988-1993. <br /><br />No SGD 6k limit. Slight higher CPF deductible tax offset. Nothing to shout lah.<br /><br />Mat BonkAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-88631549167223363842015-04-22T10:46:53.953+08:002015-04-22T10:46:53.953+08:00Oh but the bond market would like the EPF money.
...Oh but the bond market would like the EPF money.<br /><br />Btw,<br />Last I heard/thought I heard, (before this) EPF actually wanted less assets under management...was I wrong?Jasonhttps://www.blogger.com/profile/03517459200735545587noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-77828728870236084492015-04-22T08:22:44.071+08:002015-04-22T08:22:44.071+08:00@anon 8.11
It's been considered, that's a...@anon 8.11<br /><br />It's been considered, that's all I can say.hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-28074921381135580712015-04-21T21:43:03.026+08:002015-04-21T21:43:03.026+08:00Damn autocorrect!!!! LOLDamn autocorrect!!!! LOLAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-37680111798773002122015-04-21T21:41:11.399+08:002015-04-21T21:41:11.399+08:00Dear Mat Bank,
CPF only deducts contributions up ...Dear Mat Bank,<br /><br />CPF only deducts contributions up to SGD6,000 of your salary. Agreed that the yield sucks big time, which is actually an implicit tax, but it doesn't mean we cannot learn from their innovations. We can learn from mistakes too. The size of EPF and its unrealistic dividends r pushing us to take more risks. Who is the frog here?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-8743936795843226052015-04-21T21:36:24.957+08:002015-04-21T21:36:24.957+08:00In addition, hoping that the public will not reali...In addition, hoping that the public will not realize the much bandied near 70% of EPF members do not have RM50,000 balance at age 54 actually included the non-active accounts is really disingenuous.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-83397472145469314152015-04-21T21:32:48.414+08:002015-04-21T21:32:48.414+08:00Hello Froggy under coconuts...
My CPF is only giv...Hello Froggy under coconuts...<br /><br />My CPF is only giving me less than 3% annually from 1988 - 2013. In fact average out about 2.83% annually over the duration.<br /><br />Notice tat when it comes to EPF versus Singapore, no clowns come out and say, Singapore tis, Singapore that.<br /><br />Travel more n open eyes.<br /><br />Mat BonkAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-9895970049849402192015-04-21T20:11:36.918+08:002015-04-21T20:11:36.918+08:00Dear Hisham,
We both know that leakages through e...Dear Hisham,<br /><br />We both know that leakages through early withdrawals are a major factor, but that is not really highlighted. Inflation is actually eating away the purchasing power of an older generation of EPF members. While I totally endorse the need to align the withdrawal age with the retirement age (as well as the differences in minimum wage definitions), I think it is a tad dishonestAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-75093007087810428142015-04-21T17:22:03.926+08:002015-04-21T17:22:03.926+08:00@anon 5.01
We're "following in the foots...@anon 5.01<br /><br />We're "following in the footsteps" of CPF (or more precisely, every other pension system in the world), for the same reason they did - pension adequacy in an environment of population longevity and ageing.<br /><br />The difference is that we're doing it much earlier than many others did. The median age of the population of Singapore is nearly 40; Malaysia hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-82077011979836355862015-04-21T17:12:22.117+08:002015-04-21T17:12:22.117+08:00@anon 4.05
Nothing but headaches. We're not d...@anon 4.05<br /><br />Nothing but headaches. We're not doing this for the fun of ithishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-75596750743875364722015-04-21T17:01:23.364+08:002015-04-21T17:01:23.364+08:00Following in the footsteps of Singapore's CPF?...Following in the footsteps of Singapore's CPF?<br /><br />Next step - raising the retirement age, maybe.<br /><br />That's not going to go down well with the hundreds (thousands?) of fresh graduates and school leavers entering the workforce each year.<br /><br />Nor will it go down well with companies who are trying to rejuvenate and upskill their workforces.<br /><br />Where is the Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-24047405559483773262015-04-21T16:05:03.947+08:002015-04-21T16:05:03.947+08:00Dear Sir, what's in it for EPF?Dear Sir, what's in it for EPF?Anonymousnoreply@blogger.com