From 11% to 8%

I was repeating my routine life (jam all the way to office) this morning and heard in MY FM's morning news about KWSP is reducing employee's EPF contribution from 11% to 8%. The very first thing I did once I reached office was logon and surf about it. Couldn't see anything in the Home Page of KWSP (as usual). However, this is what I found - The Star Online: EPF to adjust members'contributions to 8% from January. Have a read if you got the time.

Anyway, you have the option to choose to change it back to 11%. Just go and knock the KWSP's door and let them know you want to remain as 11%. I did a simply calculation based on the average salary of a fresh graduate (it is way higher than me when I was a freshie :< ) as below: Note: calculations are excluded Tax and Socso reduction.

11% Based
Basic Salary: RM2500
11% EPF: RM275
Remaining: RM2225

8% Based
Basic Salary: RM2500
8% EPF: RM200
Remaining: RM RM2300

Conclusion: You have extra RM75 to spend per month, but you lost RM31,500 in you saving if you work for another 35years(assume you have a fix salary for 10year...Yes I know that is very sad....hehehehe).

So, you judge yourself whether you want that extra amount per month now or you would like to have that extra RM31K when you are 55?

Want to know my choice? I still haven't decide when I press the Publish Button.

Democracy

"Democrat Barack Obama was elected the 44th president of the United States on Tuesday, making history by becoming the first African American to win the post and completing a stunningly rapid rise to power." - quoted from USAToday.com

Even a black can be the white dominated country's president. This is what I called PEOPLE POWER and Democracy!!!

Nothing much to say about this....The only thing I would like to say is:

WAKE UP LAH BARISAN!!!!!!!!!!

or should be more sepcific deside just calling a general name - Barisan??

Read this for more details: Obama - The 44th US President