My last post about Unit trust was back in Oct 2010. The post was FAQ(2) about investing in unit trust. So what is next?
Apart from investing using in-hand money, we can invest in unit trust using our money in account 1 in EPF.How simple is that?
Requirement : Need to have minimum balance in the Account 1 of EPF.
What is the minimum balance? Please refer to below table.
Required Basic Savings In Account 1
Age
(Years) |
Basic Savings
(RM) |
Age
(Years) |
Basic Saving
(RM) |
18
|
1,000
|
37
|
34,000
|
19
|
2,000
|
38
|
37,000
|
20
|
3,000
|
39
|
41,000
|
21
|
4,000
|
40
|
44,000
|
22
|
5,000
|
41
|
48,000
|
23
|
7,000
|
42
|
51,000
|
24
|
8,000
|
43
|
55,000
|
25
|
9,000
|
44
|
59,000
|
26
|
11,000
|
45
|
64,000
|
27
|
12,000
|
46
|
68,000
|
28
|
14,000
|
47
|
73,000
|
29
|
16,000
|
48
|
78,000
|
30
|
18,000
|
49
|
84,000
|
31
|
20,000
|
50
|
90,000
|
32
|
22,000
|
51
|
96,000
|
33
|
24,000
|
52
|
102,000
|
34
|
26,000
|
53
|
109,000
|
35
|
29,000
|
54
|
116,000
|
36
|
32,000
|
55
|
120,000
|
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.
|
Contact me to invest using EPF through CIMB Wealth Advisors.
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