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  • Felda defers deduction on settlers’ income until June

    Felda defers deduction on settlers’ income until June

    Felda defers deduction on settlers’ income until June 1

    KUALA LUMPUR: The Federal Land Development Authority (Felda) is deferring deduction of its settlers’ income for repayment of crop and socio-economic loans for the month of April to June to help them cope with the situation brought about by the Covid-19 crisis.

    Its general manager, Datuk Dr Othman Omar, said it would involve their harvest for the month of March to May, but would not involve deduction for Kedai D’Mart and the agency’s development and security department (JKKR).

    “All setters automatically get it. There is no need for them to apply to the Felda management. The deferred deduction will be rescheduled after the postponement period is over. This initiative will benefit more than 92,000 settlers,” he said in a statement today.

    Apart from that, Felda has taken proactive steps by setting up the community food centre to assist settlers having financial problems during these trying times.

    The centre was set up following an initiative by the Settlers Consultancy Committee (JKPP) and the Settlers and Community Development Department, he added.

    Any inquiry on the deferment of the deduction or other matters can be e-mailed to jkk@felda.net.my or Felda Facebook.

    Othman said Felda is also offering the use of its hostels and other facilities as quarantine centres to help the government, especially the Ministry of Health (MOH), with its preparation in anticipating the increase in Covid-19 patients next month.

    Besides the three hostels in Kuala Lumpur, Johor Bahru and Kuantan in Pahang, Felda also has three training centres (in Kuala Lumpur, Kerteh in Terengganu and Chini in Pahang) and four Felda Residence, at Tanjung Leman in Johor, Sugai Tekam in Pahang, Trolak in Perak and an Felda Sahabat in Sabah.

    All these facilities are suitable for use as quarantine centres and can accommodate more than 1,500 people, he said, adding that Felda Sahabat has been activated as a quarantine centre that accommodates 52 patients. – Bernama

    Felda defers deduction on settlers’ income until June
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    https://www.thesundaily.my/local/felda-defers-deduction-on-settlers-income-until-june-BA2200542

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  • Perlis Regent tells people to abide by MCO

    Perlis Regent tells people to abide by MCO

    Perlis Regent tells people to abide by MCO 2

    KANGAR: Raja Muda of Perlis Tuanku Faizuddin Putra Jamalullail (pix) has decreed that the people in Perlis strictly abide by the movement control order (MCO) because a failure to do so may cause the order to be further extended.

    “We should only leave our homes with valid reasons,“ he said in reference to the MCO which was adopted to help the country reduce the spread of the Covid-19 virus.

    In a statement, Tuanku Faizuddin said the people should unhesitatingly adhere to the MCO until it expires.

    “We need to be responsible and committed with a first-class mentality in our actions to stick by the government’s directive.”

    The Regent urged his subjects not to be stubborn or lackadaisical because it will impact society, the state and country in a negative light.

    “We do not want the MCO to be extended in view that the cases may rise even more.”

    His royal message was aired by the state religious affairs council here on Saturday.

    Perlis has recorded nine Covid-19 cases so far.

    Tuanku Faizuddin, who is the president of the state religious affairs council, said that people should only exit their houses if they need to purchase food, groceries, and for healthcare needs.

    They should not leave the state unless they possess valid reasons.

    Tuanku Faizuddin noted with dismay that after three days of enforcing the MCO, there are still a number of people who are disobeying the directive, thus forcing the army to be called in.

    “I hope everyone understands the need to strictly abide by the order so we can reduce the pandemic impact as soon as possible. But if we stray, we are only inviting a possible curfew to be implemented. We still have choices.”

    Meanwhile, the council’s chief executive officer Mohd Nazim Mohd Noor said that all mosque and surau activities have been deferred until the MCO is lifted.

    Perlis Regent tells people to abide by MCO
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    https://www.thesundaily.my/local/perlis-regent-tells-people-to-abide-by-mco-YA2165616

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  • Four Different Types of Annuities

    Annuities are periodic payments paid to you, usually on a monthly basis and often for life. They can be left to your loved one in the event of your death. Once fully funded, the annuity pays a set amount each month for either the life of the contract or your life. The remaining funds can be left to your spouse, child, or other loved one in a lump sum or a monthly payment. There are four types of annuities you need to know about.

    Immediate Annuity

    This type of annuity is usually used by someone who is already in retirement, getting ready to retire, or just came into a windfall such as an inheritance or lottery and they want to protect their money while providing an income for themselves each month.

    An immediate annuity needs a large investment to be beneficial. The average age someone buys this type of annuity is usually between 65 and 70 years old. If you had a million dollars cash laying around and you put it into this type of annuity, you would immediately start collecting monthly payments that would total about $65,000 a year for 20 years (or life depending on the type you purchase). You’d earn your principal back in about 15 years.

    Deferred Income Annuity

    This type of annuity can be had for as little as $5,000 to $10,000. Then you can add to it every month until you retire. The calculations for payments are made based on the input you promise to send and your initial investment, plus interest, subtracting fees, and other costs.

    Many people who have maxed out their 401K and IRA contributions, plus already have plenty of access to other cash for emergencies, like to purchase this type of annuity to ensure a set monthly payment for their retirement years to offset risks from other investments.

    Fixed Annuity

    The returns increase in value based on a set interest rate that is known at the time of the purchase. Usually, this is the type of annuity you get when you set up a deferred income annuity. They have better interest rates than CDs (certificates of deposit), and all the interest you earn is tax-deferred until you start receiving payments.

    Normally, you don’t have to choose your exact payment dates until closer to your retirement. At that time, they will work out the payments that you’ll receive after you stop paying into the fund. However, you will have an idea of what you’ll get based on interest rates, the payments you pay in monthly, plus when you start taking payments.

    Variable Annuity

    This type of annuity’s interest rate is tied to another fund, such as the S&P 500. It’s a lot riskier, but you can end up with more returns and still get some protecting regarding your principal. Your income is still tax-deferred, and you still have a minimum monthly guarantee. In some cases, you can also take some cash, and you can assign a death benefit to your relatives.

    Now that you know this information about the four different types of annuities, do you think they are good financial options for your retirement income? The ability to put money away in a safe place while also collecting a monthly income is special, because most financial products don’t offer this facility. There are more types of annuities than these four, but these are the main ones. Each institution has different plans and combinations of choices.

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