The Dividend rate of 6.10% announced by the Employees Provident Fund (EPF) was nothing short of stellar considering that it was able to deliver a good dividend in an environment that was extremely challenging, an economist said
Socio-Economic Research Centre (SERC) executive director Lee Heng Guie said that considering FD rates that were very low, a dividend of 6.10% was indeed extremely heartening at a time when inflationary pressures were mounting on the economy and with the value of money eroding.
Lee complimented the professionalism and the financial ingenuity of EPF in ensuring that savings of the Malaysian public were well deployed into investments that were productive and gave Malaysians good bounties adding that he hope the present performance would be sustained.
The Employees Provident Fund (EPF) had earlier announced a dividend rate of 6.10% for conventional savings and 5.65% for shariah savings for 2021.
The pension fund said the total dividend payout amounts to RM56.72 billion, of which RM50.45 billion is for conventional savings and RM6.27 billion for shariah savings.
EPF chairman Tan Sri Ahmad Badri Mohd Zahir said EPF had managed to keep it steady for the year 2021 and remained resilient, due in part to its healthy and globally diversified portfolio.
“The RM101 billion pandemic-related withdrawals since the year 2020 had resulted in 48% of EPF members having less than RM10,000 in their accounts. “We hope that these dividends and our continued performance will help us begin the process of rebuilding our members’ retirement savings, as economic recovery takes shape over the course of the year,” said
