F0122: EPF Account 3 - Good or Bad?? (With Financial Experts Hann and Sani)

On 25 April, EPF officially announced Account 3, which is a new Account that will receive 10% of your monthly contributions.

This account will allow members to withdraw the balance any time, and EPF said this was to replace targeted withdrawals.

Old structure:

• 70% Account 1 (cannot be withdrawn until 55).
• 30% Account 2 (can be withdrawn early to pay for education, housing loan, and healthcare).

New structure:

• 75% Account 1.
• 15% Account 2.
• 10% Account 3 (can be withdrawn any time).

Along with financial experts Hann and Sani, we discussed the pros and cons of this move, plus tips on how to grow your retirement savings.

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Timestamps:

(00:02:52) Thoughts on Account 3? Yay or Nay?

(00:11:30) C ...