Why I Think EPF Account 3 Is A Good Thing

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EPF just announced an all new account, account 3 or akaun fleksibel.

This allows Malaysians to withdraw 10% of their EPF money whenever they want without needing to provide a reason.

Some Malaysians think its a bad thing considering many of us already don't have much in EPF. In my opinion, this is actually a good thing because of the flexibility it gives us with our money.

⌚ Timestamps:
00:00 Intro
00:26 What is account 3 and what changes have been made
2:07 The downside of account 3
5:12 Why I think Account 3 is good

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Great! Ive transferred my money from account 2 to 3! 😍

SaadonAksah
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Yea, agreed. It is more to emergency use or investment or studies. Don't be that uncle who used up all his EPF saving of 750k on expenditures and blamed their children for not giving him enough money. I rather put that 750K back to EPF and get monthly dividend lol....

jcsenhamster
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very good advice and break down, thanks for sharing !

Viv-xhyv
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Open account 3 and increase petrol price next month. Good move

Jjames
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Can you self contribute to Account 3 and get tax deductions of up to RM3K?

KishenSingh-yiqi
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Robinson David Walker Barbara Walker Anthony

BartonSebastiane-pp