Posted by nhbeen > 2022-01-21 09:33 | Report Abuse

The writer suggestion seems like Robinhood, "robbing" the rich and "rescue" the not so rich. Every EPF contributor works hard to make a living and contribute towards the retirement fund fairly according to their earning capability. Their contribution should be treated equally in respect on dividend to be received. Else, contributor should have a choice to park their retirement fund somewhere else to earn higher return.

Posted by nhbeen > 2022-01-21 09:35 | Report Abuse

Helping the not so well being EPF contributors should come in other forms such as restructuring the economic structure, upgrading skills, more high added value employment opportunities etc to help improve contributor's earning and as such higher EPF contribution.

Posted by joerakmo > 2022-01-21 10:14 | Report Abuse

BS article .excuse for Gov to dip into EPF

1 YOU CANNOT LEGISLATE THE POOR INTO PROSPERITY BY LEGISLATING THE WEALTHY OUT OF PROSPERITY

2 WHAT ONE PERSON RECEIVES WITHOUT WORKING FOR,ANOTHER PERSON MUST WORK FOR WITHOUT RECEIVING.

3 THE GOVERNMENT CANNOT GIVE TO ANYBODY ANYTHING THAT THE GOVERNMENT DOES NOT FIRST TAKE FROM SOMEBODY ELSE.

4 YOU CANNOT MULTIPLY WEALTH BY DIVIDING IT.

5 WHEN HALF OF THE PEOPLE GET THE IDEA THAT THEY DO NOT HAVE TO WORK,BECAUSE THE OTHER HALF IS GOING TO TAKE CARE OF THEM,AND WHEN THE OTHER HALF GETS THE IDEA THAT IT DOES NO GOOD TO WORK,BECAUSE SOMEBODY ELSE IS GOING TO GET WHAT THEY WORK FOR,THAT IS THE BEGINNING OF THE END OF ANY NATION

Posted by pkchong > 2022-01-21 11:07 | Report Abuse

Implementing the dividend tier may cause significant outflow from EPF and may cause catastrophic impact to the market and may be more detrimental to the so called "poor" contributors! Per EPF Annual Report 2020, there are ~7.6M active members with total saving of ~$721B.

Member with $500K and above stood at 207,669 with total saving of !$198B. This is ~2.47% percent of the active members and ~27.41% of the total saving.

Should EPF implementing lower dividend at 3% or less for saving >=$500K, I believe this group of member will opt out of the EPF and park their money elsewhere as their saving are equally hard earned. As a matter of fact, we need to be prudent in financial planning in order to build up saving in EPF as well as on our own!