FinanceTuesday, 22-01-2008 22: 38.23
EPF has announced a 5.8% dividend for the coming year. This is one of the best rates for many years. I thought people would be happy. Maybe the government thought the people would be happy with the announcement.
But too bad. Over the 8pm English news, NTV7 conducted a poll: whether the 5.8 percent is fair? Well I thought over 50 percent of the respondents would be happy and say it is fair. No, no, NO. At the end of the news segment, NTV7 announced the results of the half-an-hour poll. Ninety percent said the 5.8percent interest rate is NOT FAIR! Only 10 percent thought otrherwise.
With such a mood, it would be a surprise for PM to call for a snap poll, don’t you think so?
EPF has always been a cheap form of capital for the government. They use the money to make money and in return throw only bread crumbs back to its contributors. As a contributor myself, I have asked what can the EPF do for me as far as my retirement plans are concerned? With the rising cost of living, how can the EPF provide me with a comfortable retirement which is due in one year’s time?
This amounts to cheating the people of Malaysia, painting a mirage for all to belief that the EPF would be sufficient to support them in their golden age.
Comment by k t teo — Thursday, 24-01-2008 @ 12: 28.42
YB
All I say is this - bring the elections on! I think it’s time. I will walk with you and many others. Can’t believe the press is now shifting gears to attack DAP and others.
Comment by Jeffrey Chew — Monday, 28-01-2008 @ 00: 18.23
EPF is now being used as an instrument to pump up the Kuala Lumpur stock exchange and property market, at the expense of future well being of the contributors. In the meantime, Bank Negara can boast of strong consumer spending trend.
We can now withdraw the EPF to buy unit trust and pay for housing loans. Look at Singapore, many people took their CPF to pay for houses (and presumably they spend the rest of their salaries on daily expenses and perhaps leisure) hence when they retire, they have no savings.
I urge everyone to use their disposal income first (salary less EPF and tax) to pay off their basic committment (housing and car) and refrain from touching their retirement fund.
5.8% is way below real inflation rate but how can we improve the returns of own contribution? The first step is to ensure EPF disclose their application of funds, not unlike those unit trust annual reports that tell us which shares their purchased. It would make interesting reading on the part of EPF loans….
Comment by lee wee tak — Monday, 28-01-2008 @ 18: 23.20
Ever wonder what happen to the call for investing your epf into unit trusts by so call investment consultants or whatever fancy names.
and now what had happen to that drive, it had died down or what?
and who are these agents who said that they have gomen approval for the withdrawal. what farce the gomen changes the rules to their whims and fancy.
The Kemaman off shore wells had dried up or what?
Comment by silvercoin — Sunday, 24-02-2008 @ 10: 32.13
Comment by YSH — Friday, 07-03-2008 @ 12: 40.57
i am happy as all malaysians, our hopes are beginning to come back,
You would be very busy now in this transition period,
thank you chow and your fantastic team
thank DAP
Comment by silvercoin — Monday, 10-03-2008 @ 07: 35.45