Ahad, 6 Mac 2011

MAAKL Mutual Berhad. KWSP INVESTMENT SCHEME







The Move Toward Greater Flexibility

In November 1996, KWSP provided greater flexibility for its members by allowing them to invest a part of their savings in approved financial institutions.

The direct impact of this move is to provide members with more control over their savings, giving the members a more active role in the investment of their own savings.


Who Can KWSP Member’s Invest With?

1)     Fund management institutions which fulfilled the conditions and guidelines set forth by the Finance Ministry are eligible to participate.
2)   Permodalan Nasional Berhad, Lembaga Urusan dan Tabung Haji, unit trust companies approved by the SC, local fund management institutions licensed under the SC Act 1983 and merchant banks which undertakes fund management licensed under Banking and Finance Institution Act 1989.


Method for Investing in the KWSP Scheme

Investments are to be made directly with any CIMB Wealth Advisor’s Agents.

The required documents:
a)    KWSP 9N AHL Form
b)   Photostat copy of Identity Card. To Photostat the front and reverse side of the NRIC on the same page of an A4  size paper.
 c) Fund Application Form

Who is Eligible?
You are eligible to apply if you are:

§        A Malaysian citizen; or
§        A Permanent Resident; or
§        A Malaysian citizen who have withdrawn your savings under Leaving The Country Withdrawal before 1 August 1995 but subsequently returned and re-contribute to EPF; or
§        A Non-Malaysian citizen (Expatriate) who became a member of the EPF before 1 August 1998.
§        You need to have savings in your Account I and you must also have not reached 55 years of age on the date the application is received by the EPF.
§        Eligible members are only allowed to invest not less than RM1,000 but not more than 20% of any surplus above required amount based on investor’s age. Refer to below chart.

Basic Savings required in Account 1
Your Age
Basic Saving
that has to be maintained
in Account 1
Minimum Saving
you should have in Account 1
to qualify for the scheme
18
1,000
6,000
19
2,000
7,000
20
3,000
8,000
21
4,000
9,000
22
5,000
10,000
23
7,000
12,000
24
8,000
13,000
25
9,000
14,000
26
11,000
16,000
27
12,000
17,000
28
14,000
19,000
29
16,000
21,000
30
18,000
23,000
31
20,000
25,000
32
22,000
27,000
33
24,000
29,000
34
26,000
31,000
35
29,000
34,000
36
32,000
37,000
37
34,000
39,000
38
37,000
42,000
39
41,000
46,000
40
44,000
49,000
41
48,000
53,000
42
51,000
56,000
43
55,000
60,000
44
59,000
64,000
45
64,000
69,000
46
68,000
73,000
47
73,000
78,000
48
78,000
83,000
49
84,000
89,000
50
90,000
95,000
51
96,000
101,000
52
102,000
107,000
53
109,000
114,000
54
116,000
121,000
55
120,000
125,000


What Are The Mechanics?

 Investment will not involve direct withdrawal of the funds from member’s account, 
 it will only be a transfer of KWSP savings to fund managers as instructed and  returns will be credited directly into member’s KWSP savings account.Any withdrawal or investment gains from the fund   management institution are not allowed until after age 55 or if member meets the requirements under the withdrawal schemes of leaving the country, incapacitation or death.



How Often Can You Withdraw?
Every 3 months (Based on disbursement date from KWSP)

When Are You Not Eligible To Withdraw?

  •  When your balance in Account 1 is Less than required amount based on age (Refer to above chart)
  • Reached age 55 years old.

Can You Invest in Any Unit Trust?
No. You can only invest in Unit Trust that are approved by KWSP.


What is the calculation method to know the members’ investment amount eligibility?
       The calculation method is as follows:
         (Total Balance Account 1 – Total Basic Savings) x 20% Calculation example for Members’ 

Investment Eligibility:

        Balance in Account 1 on 01.02.2011 is RM55,000.00 
and

          member’s age is 30 years old,  
and total of member’s Basic Saving  

        RM18,000.00. = (RM 55,000 – RM 18,000.00) x 20%

         Eligible Amount for Investment = RM 7,400.00 

Some Examples to Compute the Allowable Investment Amount

Member
Age
Savings In Account 1
 (RM)
Basic Savings (RM)
Computation: Savings In Account 1- Basic Savings x 20%
Member's Eligibility
A
22
4,000
5,000
-
Not qualified as the savings is lesser than the basic savings required.
B
22
8,000
5,000
(8,000 - 5,000) x 20% = RM600
Not qualified as the savings is lesser than required minimum investment amount of RM 1,000.
C
25
20,000
9,000
(20,000 - 9,000) x 20% = RM2,200
Qualified as the savings is more than the basic savings and minimum limit.
D
40
40,000
44,000
-
Not qualified as the savings is lesser than the basic savings required.
E
45
100,000
64,000
(100,000 - 64,000) x 20% = RM7,200
Qualified as the savings is  more than the basic savings and minimum limit.


Need More Info? Please Fill in Below Form:





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