Monday, January 12, 2009

EPF @ KWSP Contributions Reduced To 8% - Part 5 - 22% Opted To Maintain Contribution Rate At 11%

Berita Harian on 6th Jan 2009 reported that only about 22% or 1.23 millions out of 5.64 millions active EPF members opted to maintain their contribution rate at 11%. The rest 4.41 millions members opted to reduce their contribution to 8%.

Most of the applications to maintain their contribution rate at 11% come from 3 states, namely Selangor, Kuala Lumpur and Johor. Out of 1.23 millions members who opted to maintain at 11%, about 56% come from Selangor, 28% from Kuala Lumpur and 14% from Johor.

Throughout the whole year, EPF believe there will be more applications coming in to chose to maintain their contribution rate at 11%. For those who wish to maintain their contribution rate at 11%, they will need to fill in Form KWSP 17A(AHL)-KHAS.

Personally, it's great to know that at least 22 out of 100 Malaysians care for their retirement fund. Let's keep building our retirement fund!

P/S: You may read the complete news here.

4 comments:

  1. We should always be awared, and keen to our financial status. And most definitely, care about our retirement fund. It's better to have backups rather to go insanely desperate & helpless when bad things strike us. =)

    Now I'm off to the Financial Fitness test, thanks yan for these valuable info. Have a nice day!

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  2. Hi Ching Ya, yes... absolutely right. Must be financially independent especially when we reach our golden years.

    No problem, wish you a wonderful day ahead :)

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  3. yeah..i opt for 11% cos scare kena income tax later..

    by the way, i have linked u adi..nice to be your link partner..

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  4. hi David, yes! coz 8% contribution will increase the taxable income. Thank you and it's an honour to be linked to you. Let's keep posting!

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