The Employment Provident Fund has declared a 5.5% dividend for the year for those under the conventional savings and 5.4% for this under the Syariah savings fund this year. In 2022 the body announced 5.35% for conventional and 4.75% for Syariah.
Total distribution for the conventional will be RM50.33 billion and for Shariah Savings ill be a total allocation of RM7.48 billion, making the total income distribution for year 2023 to RM57.81 billion.
This was around the estimation by most economists while the was also exaggerations of going beyond this to 6.5%. Accordingly the total asset under management by the statutory body surged 13% to RM1.1 trillion in 2023 compared to 2022 despite massive withdrawals taking place during the i-sinar programmes.
The body noted that withdrawals in 2023 returned to normalcy with total withdrawals going up by just 13% of 2019.
