All EPF (Employees Provident Fund) contributors will, from Feb 1, be able to withdraw part of their funds and channel them to approved investment programmes.
Under the new scheme, contributors, irrespective of age, will be able to withdraw from Account One what is in excess of a “required amount” of savings as determined by the EPF and invest the money in unit trusts…
…EPF has established a set of “required amounts” for contributors depending on their age.
The amounts are based on the assumption that a person would need at least RM120,000 – or RM500 a month – from retirement at 55 to age 75.
He said a contributor could withdraw 20% of the amount in excess of the required amount for investments in unit trusts.
“For example, if a 25-year-old has RM20,000 in Account One, he can take 20% of the excess to invest once every three months. This is because his required amount is only RM9,000,” he said.
Sources from http://www.thestar.com.my.
This is good news for those who like to invest more in the unit trust fund. Also more good news to unit trust agent as they more opportunity to promote more investment.
Unit trust investment is one of the way to see good return in investment although it require more time (like 10 years or more) to see the result and the downside is also true because of the inherent risk.
Do you agree to invest in unit trust fund? Not me because I like to manage my own money.