KUALA LUMPUR, Oct 16 (Bernama) -- Bursa Malaysia closed lower on Friday as buying interest shifted from index heavyweights to smaller-cap technology and telecommunications stocks as well as real estate investment trusts (REITs). At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 15.94 points, or 0.98 per cent, to 1,607.76 from Thursday’s close of 1,623.70. The benchmark index, which opened 1.13 points higher at 1,624.83, moved between 1,602.98 and 1,626.34 throughout the session. On the broader market, gainers outnumbered decliners 597 to 470, while 518 counters were unchanged, 1,258 untraded and 33 suspended. Turnover rose 3.13 billion units worth RM3.27 billion from 3.06 billion units worth RM3.03 billion on Thursday.
I'm continuing from where I left last year regarding this topic ..... links. No doubt, EPF is the safest bet for our retirement besides FD, which is why it is necessary for us to save some money in EPF. So this means that EPF is necessary.....only as retirement fund in which I would assume it will not be sufficient as well. The debate on EPF and KLCI is actually started when our DPM announced that EPF contribution by employee can be reduced to 8% where the extra 3% can be use to spur the economy ....as if the 3% would make a different. Unless your annual income is more than RM75k, reducing to 8% only benefits the government. You only pay more income tax by reducing it to 8%. Take the following scenario:- Annual income = RM55 000 a) EPF contribution (11%) = RM6 050 (max income tax deductable capped at 6k) b) EPF contribution (8%) = RM4 400 (RM1 600 extra is taxable) From the above scenario, by just changing the EPF contribution 3% less, you will have RM1600 extra, which is taxable,...