Wednesday, April 18, 2012

KWSP Member's Withdrawal Scheme of Malaysia

Are you aware that you could increase your KWSP (EPF) balance by chanelling
a portion of your money into approved Unit Trust Funds distributed by approved
Unit Trust Management Company in Malaysia? 
Let me guide you how it is done and see if you are among the many contributors who
are elligible to participate in this KWSP Member's Investment Withdrawal Scheme

Assuming you are 35 years old (age next birthday) and you have RM 60000 in
your account 1, and RM 40000 in account 2 of your KWSP.
KWSP only allows you to withdraw 20% of elligible balance from account 1
only, and not account 2.
From the table shown here at your age, you cannot touch RM29000 as shown in
the basic saving column. That means you can only elligible to withdraw RM 31000
from account 1. But wait! It's not over yet.
The board of KWSP don't allow you to invest all RM 31000 in the Unit Trust
Fund. Only 20% of that amount is allowable to be invested, that means RM 6200
only!

You can now tell your Unit Trust Consultant / Advisor to invest RM 6200 in any
funds distributed by approved management companies.

Should you still need some clarification, please E-mail me and i will attend to your
questions very soon.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.