Friday, August 28, 2015

How To Pay PTPTN with EPF@KWSP Savings

For PTPTN borrowers with education financing agreement executed 2 Jan 2001 onwards, they can use the savings from their EPF@KWSP account 2 to pay for the PTPTN study loan. From my point of view, PTPTN borrowers should try their best to pay with their own money and not from their KWSP savings. Mainly because EPF@KWSP is a saving for our retirement. Using EPF@KWSP savings to pay for PTPTN study loan should be the last resort to settle PTPTN study loan. 

You can click here for procedure on how to make PTPTN repayment through EPF@KWSP withdrawal. 

Saturday, August 15, 2015

Malaysia Retrenchment - Should You Take Up The VSS or MSS Offer?

I read a sharing by Alice Yokyuen-Wong on The Star Online. I strongly feel that, those affected by Voluntary Separation Scheme (VSS) or Mutual Separation Scheme (MSS) should read it too. Why? Because it's from her own experience and there are truth in her sharing.

Do take note that she budgeted her expenses tightly after the VSS even though she had received the compensation sum from her VSS employer. Because she said she's not sure how long she would be jobless. But, she's lucky because she got her new job just 28 days after being laid off.

There are some truth when she shared that employee should take up the VSS or MSS and move on. Rather than 'sinking together with the ship', just like two of her friends who had worked in a public listed company. At least the compensation from VSS or MSS would lasted for some time while one looking for new opportunities.

For those affected by VSS or MSS, let's hope that you'll be landed on new job soon.

Friday, August 7, 2015

2015 Retrenchment / Job Cuts / Lay Off in Malaysia

Recently, there are quite a number of retrenchment news, locally and internationally. I share below, some of the 2015 retrenchment or job cuts in Malaysia and globally:

1) CIMB Group offered voluntary Mutual Separation Scheme (MSS)

2) HSBC to cut thousands of jobs globally

3) JVC Kenwood Malaysia Sdn Bhd ceased operations

4) Fairchild Semiconductor (Malaysia) Sdn Bhd to sell Penang factory

5) Royal Dutch Shell to axe 6500 jobs globally

6) Malaysia Airlines, MAS retrenched 6000 jobs

7) Job cuts at some of global banking institution 

I believe there are many job cuts or retrenchment which not been reported in news. Feel free to share your thought and comment below if you have any.

photo credit: Today's News via photopin (license)