Comments on: Should You Reduce Your EPF Contribution?

By: Top Tips On How To Build Your Retirement Nest Egg Early In Your Career | My Smart Money Tips

Tue, 03 Mar 2009 05:55:24 +0000

[...] Malaysia, the EPF contribution rate was recently reduced to 8% from its previous 11%. If you can, don’t opt for the reduction in your EPF funds as it will form the bulk of your [...]

By: My Smart Money Tips 2008 Financial Summary | My Smart Money Tips

My Smart Money Tips 2008 Financial Summary | My Smart Money Tips — Wed, 31 Dec 2008 01:08:05 +0000

[...] cuts. Nevertheless, Malaysians have started cutting back on expenditure while others contemplate reducing their EPF contributions from 11% to 8% under a Government stimulus package for the economy. As the retail sector starts to slow, [...]

By: Ms Money Penny

Ms Money Penny — Tue, 11 Nov 2008 02:44:01 +0000

Hi Pablo,

That’s true which is why there’s no point in opting to cut your EPF deductions

By: pablopabla

pablopabla — Thu, 06 Nov 2008 10:18:50 +0000

For a person in middle management earning RM5k, 3% would be RM150. Not a lot to go about. Probably 1 1/2 tankfuls of petrol

By: Ms Money Penny

Ms Money Penny — Thu, 06 Nov 2008 06:09:55 +0000

Horizon, thanks for dropping by.

Yes, the reduction of 3% is not much to an individual which is all the more reason why they should not opt for a reduced EPF contribution rate.

By: Horizon

Horizon — Thu, 06 Nov 2008 04:58:16 +0000

It maybe alot if everyone is reducing the contribution. But for individual, 3% is like nothing. A person with RM1.5k income can oni get RM45 from the 3%.