Should you opt-in for the one-off irreversible transfer to the new Flexible Account from EPF Account 2 and effectively restructure your current EPF savings? That’s a key question that Enterprise Explores with Rajen Devadason, Licensed Financial Planner with Manulife Investment Management (Malaysia) Berhad. On top of that we also dive into how EPF members should navigate this incoming change and the narrative that we need to build around Akaun Fleksibel and its uses.



It’s no secret that EPF’s recently announced restructuring has been divisive to say the least, but love it or hate it, it’s coming later this week. Starting from Saturday May 11th 2024, EPF contributions will be split into 3 accounts, where 75% goes to Akaun Persaraan, 15% into Akaun Sejahtera, and 10% into Akaun Fleksibel.



More importantly, EPF members will have until August 31st to make a big decision -  whether to opt-in to restructure your existing balance and transfer an initial amount into your Flexible Account. This one-off, initial transfer will be irreversible. Effectively, if you’ve never withdrawn funds from EPF, this move should restructure your EPF savings to follow the new 75:15:10 ratio.

Should you opt-in for the one-off irreversible transfer to the new Flexible Account from EPF Account 2 and effectively restructure your current EPF savings? That’s a key question that Enterprise Explores with Rajen Devadason, Licensed Financial Planner with Manulife Investment Management (Malaysia) Berhad. On top of that we also dive into how EPF members should navigate this incoming change and the narrative that we need to build around Akaun Fleksibel and its uses.It’s no secret that EPF’s recently announced restructuring has been divisive to say the least, but love it or hate it, it’s coming later this week. Starting from Saturday May 11th 2024, EPF contributions will be split into 3 accounts, where 75% goes to Akaun Persaraan, 15% into Akaun Sejahtera, and 10% into Akaun Fleksibel. More importantly, EPF members will have until August 31st to make a big decision - whether to opt-in to restructure your existing balance and transfer an initial amount into your Flexible Account. This one-off, initial transfer will be irreversible. Effectively, if you’ve never withdrawn funds from EPF, this move should restructure your EPF savings to follow the new 75:15:10 ratio.

Helping you navigate the ever-changing universe of business, from headlines to the bottom line

Helping you navigate the ever-changing universe of business, from headlines to the bottom line

Enterprise Explores

EPF's Flexible Account: Opt-In for the Account 2 One-Off Irreversible Transfer?

'Nothing is certain except death and taxes', and while paying taxes may be a certainty, how much can be a very different story as we’ve seen just this week with the Court of Appeal ordering LHDN to refund a Penang-based manufacturer RM286 million for additional taxes and penalties imposed back in 2008. There are a variety of issues to unpack here, but today we dive into navigating tax disputes in Malaysia with Renganathan Kannan​, Executive Director at tax advisory firm Tratax.



Ideally a tax system should provide some degree of tax certainty to taxpayers so that they’re better able to plan, however we're witnessing an increasing number of disputes between businesses and the Inland Revenue Board (LHDN).



Renganathan will help us unpack these issues and provide insights into achieving greater tax certainty, as well as provide taxpayers some guidance on how to better address all this, including the key obligations that businesses must manage, navigating the grey areas proactively, the appeals and dispute process, and tax certainty strategies and best practices.

'Nothing is certain except death and taxes', and while paying taxes may be a certainty, how much can be a very different story as we’ve seen just this week with the Court of Appeal ordering LHDN to refund a Penang-based manufacturer RM286 million for additional taxes and penalties imposed back in 2008. There are a variety of issues to unpack here, but today we dive into navigating tax disputes in Malaysia with Renganathan Kannan​, Executive Director at tax advisory firm Tratax.Ideally a tax system should provide some degree of tax certainty to taxpayers so that they’re better able to plan, however we're witnessing an increasing number of disputes between businesses and the Inland Revenue Board (LHDN).Renganathan will help us unpack these issues and provide insights into achieving greater tax certainty, as well as provide taxpayers some guidance on how to better address all this, including the key obligations that businesses must manage, navigating the grey areas proactively, the appeals and dispute process, and tax certainty strategies and best practices.

Taxpayers v LHDN: Navigating Grey Areas and Tax Disputes

Pixlr is at the forefront of AI-driven creative tools, recently featured at Google I/O 2024 as the ultimate AI editing tool for Chromebook users. In collaboration with Malaysia’s Ministry of Education, Pixlr is providing a free AI course worth RM1,000,000 to 500 teachers, revolutionising educational practices with AI.



Today, we speak with Warren Leow, CEO at Pixlr Group to discuss their latest initiatives, the impact of being featured at Google I/O, and how AI is transforming both creative industries and education.

Pixlr is at the forefront of AI-driven creative tools, recently featured at Google I/O 2024 as the ultimate AI editing tool for Chromebook users. In collaboration with Malaysia’s Ministry of Education, Pixlr is providing a free AI course worth RM1,000,000 to 500 teachers, revolutionising educational practices with AI.Today, we speak with Warren Leow, CEO at Pixlr Group to discuss their latest initiatives, the impact of being featured at Google I/O, and how AI is transforming both creative industries and education.

Empowering Creativity With AI

Sustainability and a clean energy future are topics that consumers are more interested in today than ever before. However, the majority are not willing to commit more resources to be more sustainable in their energy usage, according to the EY Energy Transition Consumer Insights Report 2024.



The EY survey covered 100,000 residential energy consumers in 21 markets around the world over three years, with close to 6,900 respondents across Malaysia, Indonesia and Singapore.



It reveals that consumer behaviour is pivotal to the success of the energy transition, with 70% of its success hinging on how consumers act. Despite this, only 30% of consumers believe they can do more, highlighting a significant gap between interest and action.



This year’s report highlights the three "As" of energy: Access, appeal, and affordability as central pillars of energy experience.



In this episode, Enterprise Explores the report’s key findings to further understand the significant gap between consumer interest and action and what strategies can energy providers implement to bridge this gap.



We speak with Mark Bennett, the Asia-Pacific Energy & Resources Customer Experience Transformation Leader at EY, on why addressing consumer apathy is essential for advancing the energy transition.

Sustainability and a clean energy future are topics that consumers are more interested in today than ever before. However, the majority are not willing to commit more resources to be more sustainable in their energy usage, according to the EY Energy Transition Consumer Insights Report 2024.The EY survey covered 100,000 residential energy consumers in 21 markets around the world over three years, with close to 6,900 respondents across Malaysia, Indonesia and Singapore.It reveals that consumer behaviour is pivotal to the success of the energy transition, with 70% of its success hinging on how consumers act. Despite this, only 30% of consumers believe they can do more, highlighting a significant gap between interest and action.This year’s report highlights the three "As" of energy: Access, appeal, and affordability as central pillars of energy experience.In this episode, Enterprise Explores the report’s key findings to further understand the significant gap between consumer interest and action and what strategies can energy providers implement to bridge this gap. We speak with Mark Bennett, the Asia-Pacific Energy &amp; Resources Customer Experience Transformation Leader at EY, on why addressing consumer apathy is essential for advancing the energy transition.

EPF's Flexible Account: Opt-In for the Account 2 One-Off Irreversible Transfer?

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