EPF’s Nurhisham Hussein - Malaysia’s Retirement Crisis Is Already Upon Us
ฝัง
- เผยแพร่เมื่อ 29 มิ.ย. 2024
- #retirement #malaysia #aged #pension #investing #savings
EPF’s Nurhisham Hussein - Malaysia’s Retirement Crisis Is Already Upon Us
With costs outrunning salaries and a rapidly ageing population, Malaysia’s retirement time bomb has already exploded.
Nurhisham Hussein, a longtime professional acquaintance and Chief Strategy Officer at the Employees Provident Fund (EPF), Malaysia’s largest pension fund, talks to Khoo Hsu Chuang about some solutions, both at a personal and policy level. (Hint: they’re both painful.)
(Many thanks to the Asia School of Business for their collaboration with The Do More Podcast, in whose studio this conversation was recorded. The Asia School of Business is a partnership between MIT Sloan School of Management and Bank Negara Malaysia).
CONTENTS
00:00:00 - Introduction
00:02:41 - Snapshot of Malaysia’s Retirement Crisis
00:14:20 - What is the Policy Response?
00:18:04 - How Are People Getting By?
00:19:35 - Who Is Responsible For Your Financial Future? You? Or The State?
00:25:25 - What To Do About the Ever-Weakening Ringgit
00:29:26 - Undeclared Assets
00:33:49 - Nonexistent Financial Literacy
00:38:29 - Priority List of Financial Planning
00:44:50 - Can Malaysia Raise Taxes Like in the West (to Pay for Social Safety Nets)?
00:48:09 - Do Subsidies Result in a Culture of Mediocrity?
00:50:10 - The Singapore Comparison is Painful
00:52:19 - Direction of Structural Reform
01:00:52 - How Both the State and Private Sector Can Rethink Retirement
01:04:17 - How Good Health is Instrumental in Old Age
01:06:00 - What’s the TL:DR Here? A Summary
01:11:57 - For People, Rethink Retirement
---
FOLLOW HISHAM HERE:
Blog: econsmalaysia.blogspot.com
Twitter: / econsmalaysia
LinkedIn: tinyurl.com/5ts79t5c
FB: tinyurl.com/2dk6npbp
--
Follow Chuang here:
URL: www.domore.my/
LinkedIn: / hsu-chuang-khoo-ab199343
FB: / khoo.chuang
IG: / khoohsuchuang
--
Follow DoMore here:
WEBSITE: www.domore.my/
TH-cam: / domoretakechargeofyour...
ITUNES: apple.co/2lQ47mS
GOOGLE PLAY: bit.ly/3b1l8iO
SPOTIFY: tinyurl.com/y6zufvcp
PODBEAN: domoreasia.podbean.com/
INSTAGRAM: / domore.asia
Dear all, just a short note once again to thank you for giving me and Hisham your time; as always, my guests and I always hope to be able to inform and inspire people so that we can all improve, even in small doses, our world and our lives.
I’d also like to apologise for the poor audio quality.
They occurred by accident and persisted for a few episodes, including this one with Hisham and myself. Thankfully, in more recent recordings the audio quality has since been vastly improved.
Thanks again and take care. Carpe Diem!
some audio tips:
- set to mono and not stereo audio in future.
- use some amount of dynamic compression to keep the audio levels constant for ease of listening. there are 2 problems here... it's too soft and levels varies too much.
in spite of 45% marginal income tax in Australia, govt services are a joke, an absolute joke. Tax dollars are wasted left right and centre. Malaysia's pay as you go system is 10x better
@@Tenelia actually the problem was both audio inputs were inserted into the same camera, rather than into a separate mixer. This made editing nearly impossible. Plus, audio from both inputs were audible on the main file. The softness and levels came from the cleanup process because the base file was already very poor. But thanks for the feedback. Valuable lessons were learnt!
Yes, people need to save and safely invest more. Did you know in the 90's, Malaysia Savings Rate was 35%, among the highest in Asia?
My account1 was reduced, someone inside it a goodtheif😢
Young people need to watch this please spread this to your friends and families
Start to invest now - save money
no need to go to concerts, have financial literacy
but that would just make Malaysia's economy go down. people need to spend. Also, as sound as it is...saving your money in the banks is now high risk especially due to high inflation - see Lebanon or other country with high inflation rate. Their life-saving basically becomes nothing. Its a vicious cycle, save your money and dont spend, leads to lower economy, which leads to a lower value for the currency, when the currency goes down...so does the value of your savings.
Is spending sustainable?
Balance - saving n spending both wisely 😊
Yes, people need to save and safely invest more. Did you know in the 90's, Malaysia Savings Rate was 35%, among the highest in Asia?
Could we possibly arrange more sessions with Mr. Hisham? My only concern is that this session is incredibly valuable for our English-speaking audience, whereas it's the Malay-speaking audience who would benefit the most from this knowledge.
I ALSO GO TO HEAVEN CAN COMMENT..DEAR DONKEY ...HELP FELLOW CONTRIBUTERS RIGHTS HE SHOULD DEFFEND LIKE A DEVIL..NOT LET GO THAN SAY FU.....KED UP STORIES..! TICKLING YOU IS IT..!
Please start teaching our children about finance in malaysia especially in primary and secondary schools. Start slow and progress with more material on saving money in primary school, how to spend wisely and how to allocate money for different purposes. In secondary school we can push financial study, investments, entrepreneurship, skills to read profit & loss reports (simple financial reports), scams, and money management in secondary school
At one point before 2010, I decided to increase my personal contribution to about 25% and it went on for a good 4 yrs before reverting back to the minimum (I think it was 11%). Good to see that the short term sacrifice has resulted in a healthy sum in my account despite the weakening ringgit
Thank you for the idea sir.
@@taneskumar3653I heard EPF's investment arm made pretty good money this yr. So I expect the dividend this yr (paid in 2024) will be good.
nice idea
Wait, u can increase EPF contribution to 25%? I thought the maximum contribution rate is only 13%, or maybe just my company thing
@@walauahahaha I am unsure what's the policy now but back then, minimum for employee contribution was 11%. With the 100K max for self contribution currently, this route seems more hassle free.
Watching as a Brit living in Singapore, it's striking how the same issues (lack of literacy, currency depreciation, lack of retirement planning, real wage cuts) are prevalent in many different countries. Thank you for the great discussion.
Well, europeans and american printing money to fund their wars. Not helping😅
it is a world wide phenomenon. Every country have problem with their retirement plan
😂 despite violent protests for 13 days, French government did raise the age retirement from 62 to 64...
Love this Malaysian EPF executive ..very intelligent.
Amazing interview. Mr Hisham is so knowledgable and great questions...❤ from Singapore
Ensuring the best interests of the depositers is such a noble cause by EPF. Please educate Malaysian children to be financially savvy. Introduce all the products available when they reach 18 years old.
Satu perkara ialah sejak sekian lama kerajaan dan pembangkang menunjukkan ilusi pembangunan. Masih tidak dapat mengenali pelakon! Tiada kerajaan telah melakukan apa yang perlu. Buat parti pembangkang langsung.
This is the responsibility of parents.
@@dgdfgbhjgdm ilusi pembangunan? pembangunan bergantung pada income rakyat. pembangunan yg lambat datang dari rakyat yg bodoh.
duit kita tanggungjawab kita. covid pun nak keluar sampai 30 ribu, dah nampak bagaimana bodohnya rakyat kita.
Agree but At 18 they might not know how to do so. Financial literacy must be taught in uni, college and maybe secondary schools.
Really enjoyed this episode and learned so much. Hope that there’ll be more interviews with En. Hisham or more policy makers.
Same here!
Thank God we have competent people like Nurhisham looking after and managing our EPF money.
Noticed how the right question is been asked and giving its guest the space needed for answers. Looking forward to more follow ups to this discussion with more specific focus. Great works!
The problem is....when you save money in government trust fund such as ASB, Tabung Haji, EPF ect, the previous government 'stole' and control the yield for investors. If Bank Negara lost in forex or other stupid political investment, they will cover loss by using the peoples' saving.
I watched this interview because I heard from the interviewee on BFM this morning. Honestly speaking, I much prefer this long form interview when it’s done right like what is done by Chuang. A lot of nuances can be lost when we’re diving into these difficult and complex topics.
Get into to the bottom of issues and what are the solutions. If EPF savings is inadequate for old age retirement, increase the present rate by 5 % either way by employee and employer is the solution.Too much story telling by EPF representative not relevant to core issues. Make it short and brief .
Financial literacy is big problem. I only knew of compound interest when I was 18 taking my diploma and attended business math class...
Thoroughly enjoyed this interview. Well done, both erudite and articulate men !
In my 70s, i regret not saving especially in EPF. Worst of all, we went along with Mahathir to demand early release from CPF. Luckily for me, SG sticked to the rules
Hisham is always insightful and entertaining. Thanks Chuang
Just discovered your channel, interesting and insightful at the same time. Liked and subscribed.
Well done. Excellent conversation.
Very interesting and sound financial advice....thanks Nurhisham for the good job that you are doing in looking after our retirement funds. More of these nature of relatable interviews please Chuang.
Great topic of discussion. Apart from just EFP deduction on a monthly basis from our jobs, we should also at least do more with a voluntary contribution whenever we can every year. EPF has just up their voluntary contribution from RM60k to RM100k in June this year and I personally think it's a good move.
Orang Benggali dan beberapa orang Kerala telah dibawa, Dapatkan wang yang dipanggil selamat bersara..
Since June 2023?
@@Rayang4ver yes
Or alternative (safe) savings options
more session with Hisham please...very insightful and informative !
On it!
Very insightful! Thank you.
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
Considering the increased complexity since the 2008 crash and COVID, I suggest diversifying your financial portfolio. I hired an advisor and successfully grew my portfolio by over $150K during this turbulent market using defensive strategies that protect and profit from market fluctuations.
@@maryHenokNft Kindly share the details for reaching your advisor. With inflation negatively affecting my funds, I'm in search of a more lucrative investment strategy to optimize their performance.
Much credit goes to *Camille Alicia Garcia* for her significant contributions. She maintains an online presence, making it easy to locate her. While other advisors might pose challenges to find, Julia has proven to be an excellent mentor throughout the year.
I appreciate the information. I did my own research, and your advisor seems to possess a great deal of expertise and knowledge. I've reached out to her via email and scheduled a phone call. I'm impressed by her expertise, and I'm looking forward to our discussion.
Middle-income trap, decades old Gov poor budgeting, extreme weather plus global fierce competition, it will be a total nightmare.
love how realistic the conversation is. great discussion. more of this pls.
I can only summarize the sharing from Nurhisham as 'Grim and Bleak', Say thank you to the politicians and the unthinking layer of the community.
Man power will be in the unskilled bracket as the direct outcome of low educational and aptitude quality, FDI decision will be influenced due to this.
Malaysia missed the opportunity to manage subsidy back in the 80's, to implement targeted subsidy now would be disastrous.
Good intellectual discussion though.
One thing I'm listening over and over again in this podcast is EDUCATION
hi Nafis
The other key takeaway is that everyone must also take responsibility for their retirement. We no longer live in an era where our EPF savings is enough for our old age nor should we expect the govt to meet our every need.
Really enjoyed this interview.
Just a suggestion, EPF can encourage or introduce saving program to School children from age of 10 up to age of 18 or 24. Once they start to work, they can convert this account as their employee/ employer EPF and continue to contribute.
Actually you can open EPF acc at the age of 14
EPF is for workers. For children there is e.g. Savings account to save $$$ from infant hood (of course parents help to open the account)
Singapore gov allow children from birth to open child development account (CDA). The fund can be used for education and any balance becomes part of cpf account at the age of 21.
I as Sporean like this talk is good sorry again if those rakyat know n understand about epf it will be good for the retirement for us our cpf and retirement and also our medisave have already put aside for our retirement and raining day.Tq to our Host and Mr Nurhisham
Good topic to begin with! It really an eye opening how the Malaysia economy retirement in crisis.
Did not expect to hear about early childhood development from a retirement fund person. Second time listening to Hisham. Clearly, he takes a holistic view of a complex issue.
Good insights & thanks to both of u.
As Malaysian, out top line is declining, and bottom line is increasing.
We spent to much time measuring GDP as our top line, unfortunately, GDP encapsulate both productivity and consumptions. The sad thing is, the consumptions are increasing (and also spent by borrowing) while the true productivity is declining.
We need seriously relook at the root cause, why is that so. Quality of our workforce, lack of skill knowledge workers, inconducive environment to nurture great future workforce, red tapes, nationalism, protectionism and etc etc. Take a good example, we lost Grab to Singapore... even though it's homegrown. We need to really do proper self reflection.
Out bottom line is worse than the toilet bin. Our efficient use of funds, corruptions, slackers, i wait for you, you wait for me, no sense of urgency culture..... all this increases overall cost of doing business and hence, translating to goods prices. We spent too much, I mean, too much of quick wins, such as subsidies, handouts and all to pacify the general public. All in all, it did not do any good to the country but, at least, the political party will get to keep their place.
We didn't spend enough in good quality educations to bring our nation to be more mature and able to weather storm better. We have instead nurtured massive population to be highly dependent on government for assistance and a society that can be preyed by the politicians to their own benefits.
I love my country and I hate to see the way it deteriorated to such point of fragmentation. What a waste to what our forefather left for us and we drove it to the ground.
An insightful session to deliberately consider all the keynotes. Wonderful having both of you discussing on this matter to open up about retirement for the millennial & young generation.
Chuang, you smashed it out of the park again. Excellent topic
I have listened to all your interviews on this channel.
Keep up the good work.
Thanks so much Jenny :-)))
He articulates his points well and ask good questions.
He is going easy on the epf guy
L
@@ongth601 During interviews one should have common courtesy, can't expect Chuang to go all guns blazing
Nurhisham got good experience and info. Very informative.
Thank you Nurhisam !. Lots of tips and info regarding the reality. Damn, I'm 28 and already feel the heat. :')
very productive sort of topic and epf need more such expertise
Great discussion..
Would love to hear more from Encik Nurhisham!
What are his strategies to over come the problems in a fast aging population of Malaysia? many will retire with just 50 -60 thousand ringgit to last them for 55 to 75 years if he lives another 20 years. Think of rising inflation and medical costs.many will end up sleeping on the streets.
Love this conversation. Very interesting and insightful! We need more of this kinda convo
Hi Johanna! Thanks for the nice comment. Yes me too. Issues which touch the heart and spoken with candour and credibility is the goal.
Chuang
I have seen my relatives make good use of their EPF i e purchase exp car, doing hse repairs works ect..just hopefully they have enough to survive when they retires.
Holy crap the comment section is giving me a headache, and this isn't even Facebook. Always been a fan of Hisham and his blog, rarely come across policy makers talk so eloquently about complicated and nuanced issues at length, much to think about (though chances are, people that would sit through this podcast are the ones that are financially better off)
This channel is so underrated.
Thank you so much Iszam :-)))
I am so glad we have sound & competent people helming the epf ❤
Savings will never be enough when salaries are so low in Malaysia. People are piling up high interest debt when EPF deductions are made from their salary and getting low returns on EPF savings. From a balance sheet point of view, it is a financial disaster. The only solution is to increase income, then only can you have more to save.
To increase income, people would need to move to sectors that benefit from rampant central bank money creations (eg investment banks), sectors that get government largesse or, high-tech sectors (not many, including myself, have the brain power for this). Either the above or work 2 or more jobs for the extra moolah (which is what more and more in the West are doing).
very agreed with the comment from this vid discussion
I think pensions need to be brought back. I see some elderly people who are still around living on pensions pretty comfortably. Even their widows are taken care off. Corporate greed is getting out of hand and governments are not doing enough to take care of the workers interest these days.
Look at Japan and their problems with the ageing population.
EPF is under the control of MOF Inc, which is control by Finance minister. This is an issue of trust when we have cases like 1MDB with previous PM
Indeed that's the main problem that we can't even trust our own government....sadly
What the hell are u talking about???
On top of that, Najib gave away our EPF monies for US investments during Trump administration, of course the real motive of the investment is to cover his 1MDB scandals. Then you have Abah Muhyiddin who gave the green light for the rakyats to clean sweep their hard earned pension monies on a single event. Malaysians are unlucky and cursed to have such leaders in office
Choose your leaders carefully and intelligently....a simple task that had failed for so many decades.
Ohhhhh politics
Unequivocally, it's interesting. Unquestionably, worth of my attention.
Nonetheless, well done gentlement!
Respectfully, thank you.
I enjoyed this particular episode very much, your guest Mr Nurhisham Hussein is a very knowledgeable and intelligent person who knows what he’s talking about. I am very happy for all Malaysians that he is working in the government. The topics covered in this interview are all significant to everyone in the country. I do hope many people watch this episode. Thank You for sharing 🙏!
Great conversation.... should be wake-up call for politicians still clamoring for EPF withdrawals just to ease the immediate difficulties!
Scary prospects.... savings of RM500,000 to RM1million just to be able to retire!
There is huge difference between a legal economic unfairness vs an illegal economic injustice. No matter how you taint or gaslight this difference with racial or religious overtones, it will be a big moral and political mistake to not understand this. The marurity of a nation is at stake when we confuse our youth with these issues.
I'm a Singaporean living in Singapore. Singapore is using old money and borrowing money too. To cover the loss caused by covid, the state increased GST and let property skyrocket to the point that we are higher than HK. Baby boomers' are delayed year after year, and we all have accepted our fate that we will not see our CPF in our lifetime. In Malaysia, the state sacrifice for the people. In Singapore, the people sacrifice for the state.
Property for sale in SG is not more expensive than HK even today. But rental costs are now around 10% lower than HK only. May even be around even very soon.
Come migrate and live with us in Malaysia ... our government will take care of you
The government delay the cpf payout from age 55 to 65 which the citizens received montly
*Sacrifice for the Lee family and their friends 🤣
Finally someone wakes up from the illusion of sg heaven
Very good topic covered. Btw out of topic, maybe just me, the sound might not be well mixed specifically 'balanced'. Thank you for quality contents!
we need to work together for freedom from financial illiteracy - these knowledge should be free and accessible to everyone
So true. Wish there was better financial literacy in the country. I think it should be mandatory in school or the workplace. I was lucky to have discovered financial gurus like Dave Ramsey etc in my early 30s, which set me on a path, however most Malaysians are blissfully unaware and suddenly panic when they reach their 50s and realise they don't have enough in EPF for retirement. Especially those that happily dipped into EPF along the way. FOMO and keeping up with the Joneses is really messing up the finances of our middle class.
There has to be financial education in school. Teach the concept of earn, save n invest. Delayed gratification is very important
As usual sir.. Good talk.....
Thank you Mr Teo
Chuang xx
Wage has been stagnant for soo long..but inflation is soaring
Thank you for sharing your thoughts and views, very informative and helpful. Young people should gain insights from this interview for their financial planning and sustainability for their not too distant future🤑
must like
If i am right, epf had reduced employer's contribution after 60 years to those who were still working. It was around 5% or 3%. Employer's contribution should remain same till retirement per salary bracket.
While the title is about retirement, the video articulately discusses a range of cognate issues - excellent.
PS: I can't agree with a number of comments that say the video sound being too low and somewhat inaudible. I think it's just fine.
It would be helpful of the volume was a bit higher.
Self discipline is the key. Make yourself always feel u don’t have enough then u will safe.
7:35 - Basically Nurhisham is admitting the looming retirement crisis is partly due to the Govt's misleadingly low inflation figures. Just last month the Govt announced a reduction in inflation to 2.5% and year-on-year the number seems to hover between around 2-3%, which is certainly NOT a reflection of the prices we see in the street by any stretch of the imagination!
Informative,and Sound quality can be improved.
The tag line says it all - take charge of YOUR LIFE. The only person that you can 100% depend on is YOURSELF. Don't wait for the perfect education system or healthcare system or government policy. Start taking charge as an adult.
Glad you said it. It's a malaise of modern society that people have of their volition (!) chosen to outsource some of the most important aspects of their existences, including
a. child care,
b. retirement
c. healthcare and
d. personal development.
Not good.
Another cost that the elderly will need to factor in for the future is maintenance cost. People are increasingly living in condos or gated guarded communities and the maintenance of these properties will last forever, even if you finish paying for your property. These maintenance fees are also getting higher and higher.
This is so true !
My parent live on landed property there's still maintenance such as the gardener every month if not the grass grows too long, house repairs etc. The only difference is from e.g. condo you can choose who and how much you want to pay for the necessary maintenance to have a livable house.
What is the rational for EPF contribution for those employees above 60yrs old reemployed is pegged at 4% employer share as against the 11% for pre retirement employees.
For EPF apps, add a bar/chart as a guideline indicator for the target amount corresponding to each age. This will tell individual how far they are left behind and discourage unnecessary withdrawals for gratitude purchases. @NurhishamHussein please adapt this strategy,
an insightful conversation which is based on info and knowledge plus understanding of what's going on. it's difficult for younger gen to understand this and not look at external factor such as parents for safety net. plus Malaysian shouldn't be fixated on the SGD-MYR exchange rate and complain.
Very good podcast but wish it can be longer. And for heaven sake the audio system is …….
Nice work. Could you record with louder voice? I am at 90% volume....
Family planning is very important. Don't just produce without braking and suffer later. That will plunge the ordinary wage earner into long term poverty.
The other problem are those that do not have enough kids. Thats the reason that leads to an aging population
A former PM once encouraged people to have 5 children when he took office. His rationale is simple. Majority wins. Politics is a numbers game.
Thank you for talking about something most people/ politics won't talk about
Oh maybe in future, can have this important topic in Bahasa Malaysia too 😊
One way is to enforce compulsory savings for employees for old age retirement is to increase the present rate of contribution. The present rate of about 20 % is definitely insufficient saving for old age due to rising inflation on food prices and medical treatment. A rate of 15% and another 20% by employer will help to increase a members credit to tide him after retirement. The rate of contribution in Singapore is much higher.Also, they have a medic care system for workers. The employee pay a small percentage deducted against his salary. When he is sick, he gets free treatment at approved clinics. Looking at the EPF credit balances of most EPF members of about 50 to 60 thousand ringgit, How are they going to sustain themselves upon retirement at 55 years assuming if he lives another 20 years after retirement in view of rising inflation on everything.Malaysia has a growing old age population. The present EPF system is not encompassing as an old age retirement fund. Much more can be done.
Why we save and invest money if the value is constantly diminished? Its a stupid move... the retirement saving is a mega ponzi pak man telo scheme... Save physical gold and produce lots of children may help u during retirement age
Most people won't agree with it. They just want their $$$$ now - instant gratification.
Yes, people need to save and safely invest more. Did you know in the 90's, Malaysia Savings Rate was 35%, among the highest in Asia?
In my life long working career. I discovered some employers I worked for failed to contribute my EPF ......Even I reported some cases to EPF officer. Nothing done to employers who owe me my contributation.
In my case the KWSP helped by warning my employer to pay staff when 2 people incl me made valid complaints to KWSP. Thank you, KWSP.
Please also dive into the details of EPF low contributors where majority of them have switched to civil service or were already covered under pension fund as government servants.
Yes, people need to save and safely invest more. Did you know in the 90's, Malaysia Savings Rate was 35%, among the highest in Asia?
It is good to teach our children to play monopoly when they are 4 yrs old and above. They will learn investment strategies and the value of money.
The Education Dept should embark on teaching soft skills to school children on the importance of saving and basic financial planning
The school education system must incorporate a curriculum on financial management. It will be good to start at a suitable young age, maybe around form 1. How many after even form 6 knows something about financial matters n wellbeing. How many have been informed that they should contribute more that the statutory employee contribution %, if the person has surplus to contribute. Imagine 11% vs 21% as an example. I stress education starts young on financial management.
Precisely. Financial management should be taught to school children from form 1. Encourage the habit of savings at an early age. The problem with Malaysians is to spend first rathan setting aside 10% of their pay as saving for use in emergency like an accident, loss of jobs, sickness,etc. How many malaysians have at least 6 months savings to tide over in case of loss of employment. It looks on 5 % have enough savings to sustain until they find a new job.The idea of saving once a person starts works cannot be overlooked for various reasons.
Many employees are living from paycheck to paycheck. having a few credit cards is the norm. Its a kind of debt culture. Buy first, pay later system as encouraged by business people.
Unit trust is really useless
Ageed.
i disagree. it's useful as a source of income for UT agents
Why do you guys say this tho? Like what was the bad experience you guys encountered. I think it’s great for beginners. Of course don’t go through an agent. Nowadays we have things like FSM, etc. that being said there are also things like StashAway etc that offers much lower rates.
Can’t agree more 😅 just invest to make tax claims nothing more. Rather take that money to invest in KWSP.
Nice talk . Just that the host should stop interrupt the guest and wait for him finish his sentence .
Great interview
but if I may offer some feedback - audio levels are too low and not very clear at times
Its hard. Wages are so blackballed, and to accrue enough equity to make it on yourself take so much time.
All education should be made free at least until pre-university .. And U education is subsidized for those outstanding students especially those who cannot afford it .
Tengku zafrul said malaysia economy bagus.
Interesting and informative talk....but En Hisham was not audible enough.😢
Informative but can be condensed. Go into the real issues and how to rectify.
The bills always come due. We reap what we sow.
It’s already happened since independence….the wage has to increase and this is a difficult task…
Defiantly
Love the interview however the sound system needs to be improved..cannot hear clearly the interview
Many apologies Aziz
It's since been rectified on newer episodes though ..
I am not the only one to think the audio system is poor.
Enjoy watching your videos. Just one feedback, do get a better mic.
This problem already been here long before this discussion. There are no solution either we increase wages or increase contribution or raise taxes and subsidize the contribution of the poorer section this will not be solved. No one wants to pay higher wages. No one want to pay higher taxes. And the Employees dont want to pay higher contribution. So these discussions are futile exercises
Telling us what we knew 30 years ago when everyone ignored us
Everyone should contribute to EPF including civil servants and part time workers and entrepreneurs. It is about inculcating a saving for retirement habit. If people actually saved 23% of all their income including allowances and bonuses , many would be better off in retirement.
Hope they have kids to take care of them