Striking workers: Egypt’s new military-led government has adopted the same tough line on labour activism and trade unions as its predecessors. Credit: Cam McGrath/IPS.
Monday, September 9, 2013
MALAYSIA - New EPF rules… good for retirement, bad for unit trust industry
Malaysia's largest pension fund has decided to raise the minimum savings for its contributors to ensure they have more money in their twilight years, but this indirectly cuts investments into the country's vibrant unit trust industry.
The new rules by the Employees’ Provident Fund (EPF) to cut investments in unit trusts comes at a time when rising costs have shown contributors' savings are not enough to cover retirement after turning 55, five years below Putrajaya's new retirement age of 60.
“The EPF will revise upwards the basic savings quantum of its members to RM196,800 by the age of 55 effective January 2014, to ensure enough savings to finance members' retirement needs,”
Kenali Mahkamah Tuntutan Kecil
BAYANGKAN senario ini. Pada suatu petang, anda duduk 'mengeteh' dengan sahabat baik anda.
Sambil menghirup teh tarik, dia buka cerita. Katanya, dia bercadang untuk mengembangkan perniagaan yang dimilikinya, tetapi tidak cukup modal. Sahabat anda memohon pertolongan anda.
Oleh sebab anda berdua rakan rapat, anda mengambil keputusan untuk membantunya. Tetapi anda tidak punya banyak duit untuk dipinjam.
Hanya RM5,000. Dipersetujui antara anda berdua bahawa dia akan memulangkan wang tersebut dalam masa 1 tahun. Oleh kerana anda berdua rapat, anda tidak menuntut apa-apa faedah daripadanya.
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