Readers, I have been getting lot of questions on EPF Investment ….

Dear Readers

 

In my yesterday email, I was talking about how to achieve greater return than 8% for EPF using the high dividend yield strategy. 

 Today Bill and Martin are fund managers and part of our fund management services dealt with the EPF Investment Scheme with Phillip Capital Management Sdn. Bhd.

I have been getting lot of questions on EPF Investment Scheme so I have forwarded you FAQs on EPF Investment.

If you have any question, please call our assistance for EPF, Ms. Rianne Chin at 012-303 8126 or email her at rianne@jazzcapital.biz if you wish to utilize your EPF to invest in the KLSE/Bursa Malaysia.

Here are the FAQs:

Q1.What is EPF Investment of Members Saving Scheme?

A. In November 1996, the Employees Provident Fund (EPF) launched the EPF INVESTMENT OF MEMBERS SAVING SCHEME. This Scheme offers EPF members who have balance exceeding Basic Saving in Account 1 (Retirement Account) and have not reach the age of 55 an alternative in investing their EPF Savings. They are eligible to withdraw funds under this scheme and invest through appointed Fund Management Institutions (FMI) as an alternative to EPF.

 Phillip Capital Management Sdn. Bhd.  is one of FMIs appointed by the Ministry of Finance to manage EPF funds under this Scheme.

Q2. How much can you withdraw?

A.You may withdraw up to a maximum of 20% of the amount in excess of Basic Saving in Account 1 (Retirement Account) with EPF.

Q3. How much is required for my Basic Saving in Account 1?

A. 

Q4. How often can you withdraw funds from your EPF savings? A.

You may withdraw funds every three months as long as the balance in Account 1 exceeds your Basic Saving requirement. For this purpose, the three months interval is calculated based on the warrant date given by EPF.

EXAMPLE:

 

Q5.Can you terminate the services of another FMI and invest through Phillip Capital Management Sdn Bhd?

A.Yes. You have to fill in Form KWSP F(iii) AHL to request your FMI to return the funds to EPF. Three months after your last withdrawal (calculated based on your last warrant date), you can fill in Form KWSP 9N (AHL) to invest through PCM.

Q6. What are the terms of investment at Phillip Capital Management Sdn Bhd?

A.You are required to invest your funds through PCM for at least a year, after which you may terminate our services with one month prior written notice. The minimum investment with PCM for the EPF scheme is RM30,000. However you may start the first investment with a minimum of RM10,000 and build it up with subsequent investment over a period of 1 year.

 

Q7.What steps do you need to take to withdraw funds from your EPF savings to invest with PCM?

A.You must obtain Form KWSP9N (AHL) and your account statement from EPF. To obtain these, you can:

a. personally go to your nearest EPF Office or,

b. write in to EPF.

c. visit www.kwsp.gov.my for online statement.

Fill in Form KWSP 9N (AHL), indicate the amount you wish to withdraw and submit it with a photocopy of your Identity Card to PCM. We will submit the forms to EPF for further processing.

 

Martin Wong

Trading Coach

Investmatic Management, SoHo, Ara Damansara, Selangor DE, Petaling Jaya 47301, Malaysia


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