KWSP (Kumpulan Wang Simpanan Pekerja) Malaysia
Posted by KhoKing on Tuesday Oct 23, 2007 Under RojakKWSP stands for Kumpulan Wang Simpanan Pekerja. Which is the government body that managed the money for workers that can only be withdrew after retired (age of 55). Certain part of the KWSP saving can be withdraw before the age of 55 (eg. for house loan, computer purchase (no longer available), medical expenses…etc.).
Do you know how much your KWSP is?
Quite a lot actually. Every month, both employee and employer have to pay a good amount of money from the basic salary to KWSP. It is illegal if your boss did not do that.
Monthly
- Employee = 11%
- Employer = 12%
- Total = 23%
This means that every month you are saving at 23% from your basic salary with KWSP. If your basic salary is RM2000, you are saving RM460 monthly. Every year, you are saving RM5520. With 5% annual interest (most of the time is higher, vary depends on KWSP investment performance) given by KWSP, you have around RM5796 saving per year. Work for 10 years, you have RM57960 at least in your KWSP account.
Say if you started working at the age of 25 (university graduate), average RM3000 salary, retired at age 55, total working period = 30 years, you then got RM260k at least with KWSP. You can take out the money in one big lump sum and enjoy your life…but do remember…RM100 nowadays is probably only worth like RM10 after 30 years, so spend wisely. 
October 25th, 2007 at 9:06 pm
” It is illegal if your boss did not do that.”
DO I NEED TO bring out in my general meeting? Do you think my boss will put into his consideration??? hope so ho
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October 12th, 2008 at 12:41 pm
sory sbb menggu….
ni nak kongsi ckit..pasal petugas kaunter kat kwsp sri manjung, staf nama Norazira mmg best sgt bila atend ngan die…dia amat utamakan costumer n senang bila berkomunikasi ngan die..die attend mcm pelanggan 2 mcm dah lama sangat kenal…xtau nak comment kat maner pasal die, so komenla kat cni…g kwsp sri manjung,ettend ngan die, sure puas hati…
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November 10th, 2008 at 1:36 pm
Why can’t KWSP money use to Pay Off my Bankrupcy Money as its my own saving money…???
No Point for me to keep till 55 yrs old as I’m suffering from a Bankrupcy proceeding now as I can’t travel overseas to work as I will still need to apply..?
I will wanted to start Fresh again with a New Born Life, if I could withdraw some of my KWSP saving to Clear my Debts.
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November 10th, 2008 at 8:30 pm
Hi Daniel,
That’s a good point you have there, but I guess KWSP is more of a retired saving for you to use after you retired, else you might have nothing left after 55. Of course, this is just my opinion…some people prefer to use the money earlier, some not.
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June 29th, 2009 at 11:25 am
Macamana nak check duit epf ayah mertua saya yang telah meninggal dunia pada tahun 1969. Ibu mertua saya masih ada. Masih boleh di tuntut ka.
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August 9th, 2009 at 3:26 pm
tasha..
saya menyewa diflat dbkl selama hampir 4tahun..dan sekarang pihak dbkl akan menjual kepada penduduk….masalah saya sekarang wang epf hanya ada rm14,591.04…kini saya tidak bekerja kerana menjaga anak2x..bolehkah saya mengeluarkan wang epf akaun 2, sebagai wang deposit….buntu!!!
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August 10th, 2009 at 12:40 am
What is buntu? Does not sound like a nice word to me…
I don’t think you can withdraw the money, but I am not sure. You need to call KWSP and ask the staff there.
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October 30th, 2009 at 12:38 pm
sysy dah lama menyewa dan berharap dapat beli rumah sendiri tapi tak tahu cara yang betul dan kekurangan modal bolehkah saya keluarkan duit epf untuk itu?
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October 30th, 2009 at 1:48 pm
Hi Zamri,
Setahu saya, ada 20% dari KWSP yang boleh digunakan untuk membeli rumah PERTAMA anda. Untuk lanjutan, sila periksa dengan KWSP.
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November 6th, 2009 at 7:12 pm
Can the bankrupcy department apply to KWSP to withhold
our retirement fund at the age of 55.
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November 7th, 2009 at 12:33 am
[...] more here: KOH KHO KING » KWSP (Kumpulan Wang Simpanan Pekerja) Malaysia No Comments| Posted by : ceriabiz Read More Hyprobulksms-Sistem Affiliate terhebat malaysia [...]
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September 30th, 2010 at 12:29 am
Normally when did the annual interest payment by government? Is it on April of every year?
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September 30th, 2010 at 8:55 am
Hi KB,
Not sure, as regardless of how much the interest, we can only withdraw it when we retired….at 55…
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April 5th, 2012 at 11:13 am
may i know can use EPF to buy ipad?
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February 20th, 2013 at 7:54 am
JUST WONDERING TO KNOW HOW CAN I WITHDRAW ALL OF MY KWSP MONEY, SINCE I AM HOLDING WITH THE NEW ZEALAND PERMENENT RESIDENT. AND I HAVE CHOOSE DO NOT COME BACK TO STAY AT MALAYSIA IN MY FUTURE.
THANKS AND BEST REGARDS.
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April 28th, 2013 at 2:34 pm
Eller er du рå utkikk etter еt uforpliktende og ukomplisert selskap.
En overraskende forhøyet seksuell spenning og nytelse.
Du må bare registerer en profil, så er det bare å lete i vei.
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