Did you hear about the RM 15 million deal for a company worth about 4.67% that amount? Can't understand the impact of this? Imagine exchanging RM 20 that you have now with RM 1. That's the kind of deal our friendly EPF who manages 23% of what we earn in our lifetime did. I hope this is not like cockroaches, for every 1 you find there's 20 that remains hidden...
As soon as my Account 1 hits 55k, I'm signing up for the mutual fund program thingy. I'll have to research to see whether low-load index funds are included in this program. I don't want to give 7% away (and 1.5% annually henceforth) everytime I buy into it.
Update #1: To be fair, they issued a press release in defense. But where are the facts?
Update #2: Tried looking around in the newly revamped EPF website, but couldn't find any info on the mutual fund program thingy. I can only find the list of appointed fund management institutions in the google cache. Crap now I have to go through them one by one to see if any of them sells index funds.
