Investment Eligibility
Members below the age of 55 years
Members may transfer their savings to invest as follows:
Calculation formula:
(Account 1 - Basic Savings) x 30%.
Members aged 55 years and above
Note: Members are advised to check the remaining balance of Account 1 /Akaun 55/Akaun Emas and the amount of investment eligibility first through i-Account (Member) before making the investment.
Sample of Eligibility Calculation
| Member | Age | Savings in Account 1 (RM) | New Basic Savings (RM) | Calculation for Investment (30%) | Eligibility |
|---|---|---|---|---|---|
| A | 22 | 4,000 | 10,000 | - | Member is not eligible, savings in Account 1 is less than the new Basic Savings |
| B | 22 | 11,000 | 10,000 | 11,000-10,000 x 30% = RM300 | Member is not eligible, minimum eligibility amount is RM1,000 |
| C | 25 | 24,000 | 18,000 | 24,000-18,000 x 30% = RM1,800 | Member is eligible, minimum eligibility amount is RM1,000 and maximum amount is RM1,800 |
What is Basic Savings?
Basic Savings is a pre-determined amount set according to age in Account 1 to enable members achieve a minimum savings of RM240,000 when they reach age 55. The implementation of Basic Savings is to ensure that members have sufficient savings at a minimum amount of RM1,000 per month when they retire in order to support their basic retirement needs for 20 years from age 55 to 75, in line with the average national life expectancy.
The amount in excess of the Basic Savings can be invested in appointed fund management institutions. The latest revision in this quantum has been in effect since 1 January 2019.
| Age | Basic Savings that has to be maintained in Account 1 (RM) |
|---|---|
| 18 | 2000 |
| 19 | 4000 |
| 20 | 6000 |
| 21 | 8000 |
| 22 | 10000 |
| 23 | 13000 |
| 24 | 15000 |
| 25 | 18000 |
| 26 | 21000 |
| 27 | 24000 |
| 28 | 27000 |
| 29 | 31000 |
| 30 | 35000 |
| 31 | 39000 |
| 32 | 43000 |
| 33 | 47000 |
| 34 | 52000 |
| 35 | 57000 |
| 36 | 62000 |
| 37 | 68000 |
| 38 | 74000 |
| 39 | 80000 |
| 40 | 86000 |
| 41 | 93000 |
| 42 | 101000 |
| 43 | 108000 |
| 44 | 116000 |
| 45 | 125000 |
| 46 | 134000 |
| 47 | 144000 |
| 48 | 154000 |
| 49 | 164000 |
| 50 | 175000 |
| 51 | 187000 |
| 52 | 199000 |
| 53 | 212000 |
| 54 | 226000 |
| 55 | 240000 |