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'Help EPF members with near-depleted savings'


Pix for illustration purposes.
PETALING
JAYA: Efforts must be made to replenish the savings of those who have exhausted nearly all of their retirement money, financial experts say.
Commenting on a disclosure by outgoing Employees Provident Fund (EPF) chief executive officer Tunku Alizakri Raja Muhammad Alias on withdrawals made by 30% or 1.6 million members of the fund, the experts called for concerted efforts by contributors, employers and the government to boost the retirement savings of those affected.
Tunku Alizakri said some EPF contributors might only have a minimum required balance of RM100 in their accounts following withdrawals.
Financial planner Felix Neoh advised contributors to increase their monthly contributions as members can put into their accounts RM60,000 a year, over and above their yearly deductions. ....

Shih Kang , Tunku Alizakri , Tunku Alizakri Raja Muhammad , Datuk Shamsuddin Bardan , Felix Neoh , Malaysian Financial Planning Council , Malaysian Employers Federation , Provident Fund , Employees Provident Fund , Tunku Alizakri Raja Muhammad Alias , Employers Federation , Financial Planning Council , Vincent Kwo Shih Kang , Private Retirement Scheme , Rajvinder Singh , ஷிஹ் காங் , மலேசியன் நிதி திட்டமிடல் சபை , மலேசியன் முதலாளிகள் கூட்டமைப்பு , வருங்கால நிதி , ஊழியர்கள் வருங்கால நிதி , முதலாளிகள் கூட்டமைப்பு , நிதி திட்டமிடல் சபை , ப்ரைவேட் ஓய்வு திட்டம் , ராஜ்வீந்தர் சிங் ,

Use special lifeline wisely, contributors advised


Use special lifeline wisely, contributors advised
EPF’s i-Sinar - Bernama
PETALING JAYA: While the i-Sinar scheme by the Employees Provident Fund (EPF) is a welcome relief for those who have lost jobs due to Covid-19, financial experts have cautioned that these people run a risk of having insufficient funds upon retirement if too much money is withdrawn now.
Asmadi Husna, 34, a photographer at a startup company in Selangor, told
theSun that her salary had been cut by 20% since last August, and with her loan moratorium expiring next month, this is all the more reason to withdraw money from EPF. ....

Malaysia General , Sdn Bhd , Asmadi Husna , Felix Neoh , Malaysian Financial Planning Council , Provident Fund , Employees Provident Fund , Finwealth Management Sdn Bhd , Alisha Nur , மலேசியா ஜநரல் , ஸ்டன் ப்ட் , மலேசியன் நிதி திட்டமிடல் சபை , வருங்கால நிதி , ஊழியர்கள் வருங்கால நிதி , அலிஷா நூர் ,

BNM assistant governor warns of 'unethical advice' to punt EPF Account 1 withdrawals on riskier investments


KUALA LUMPUR (Dec 10): Bank Negara Malaysia (BNM) assistant governor Fraziali Ismail has warned against unethical advice encouraging members of the Employees Provident Fund (EPF) who are not in financial distress to withdraw from their Account 1 to invest in investment assets that carry much higher risks, after the enhanced i-Sinar facility was announced by the fund.
In his keynote address at the Malaysian Financial Planning Council Professional & Ethics Forum 2020, he said this after self-proclaimed financial gurus on social media irresponsibly advised borrowers who are not facing financial difficulties to seek loan moratoriums or channel their savings from the deferred loan repayments into higher risk investments to make quick returns. ....

Kuala Lumpur , Fraziali Ismail , Malaysian Financial Planning Council , Ethics Forum , Provident Fund , Bank Negara Malaysia , Employees Provident Fund , குவாலா லம்பூர் , மலேசியன் நிதி திட்டமிடல் சபை , நெறிமுறைகள் மன்றம் , வருங்கால நிதி , வங்கி நெகாரா மலேசியா , ஊழியர்கள் வருங்கால நிதி ,