{"id":62030,"date":"2024-03-04T10:20:17","date_gmt":"2024-03-04T02:20:17","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=62030"},"modified":"2024-03-04T10:20:17","modified_gmt":"2024-03-04T02:20:17","slug":"epf-higher-dividend-rates","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/epf-higher-dividend-rates","title":{"rendered":"EPF Announces Higher Dividends For Conventional And Shariah Savings"},"content":{"rendered":"

The Employees Provident Fund (EPF) Board has just recently announced a dividend rate of 5.50% for Simpanan Konvensional, with a total payout of RM50.33 billion; and 5.40% for Simpanan Shariah, with a total payout of RM7.48 billion. This brings the total payout amount for 2023 to RM57.81 billion.<\/span><\/p>\n

As of 31 December 2023, the EPF revealed a total investment income of <\/span>RM66.99 billion<\/span><\/a>, a 29% increase from RM51.91 billion in 2022. The amount is net of listed equity write downs recorded for the year. Out of this RM66.99 billion, RM5.72 billion were generated from mark-to-market (MTM) gains of securities that have not been realised and will not be part of the dividend distribution. EPF\u2019s common practice is to only pay dividends out of realised income.<\/span><\/p>\n

The EPF\u2019s investment assets also continued to see respectable growth, rising up to RM1,135.82 billion, an increase of 13% compared to 2022. The increase comprised of income from the portfolio and healthy collection of contributions of RM97.56 billion in 2023, an increase of 15% from RM84.78 billion in 2022.<\/span><\/p>\n

Thanks to its portfolio diversification and active fund management, the EPF was able to deliver improved dividends for 2023. The RM57.81 billion dividend distribution is set to benefit more than 16 million EPF members, encompassing individuals from both formal and informal sectors.\u00a0<\/span><\/p>\n

<\/span>2024 outlook<\/b><\/span><\/h2>\n

According to the EPF statement, the International Monetary Fund (IMF) currently predicts a global growth rate of 3.1% for 2024. This is below the historical average of 3.8%. As such, major central banks are expected to begin to lower policy rates as inflation starts to subside.<\/span><\/p>\n

Bank Negara Malaysia (BNM) has projected a GDP growth of 4% to 5%. This is mainly being driven by continued growth in domestic demand and a recovery in external demand. Global financial markets remain at risk to geopolitical developments, particularly in relation to ongoing regional conflicts.<\/span><\/p>\n

\u201cViews are still mixed on the global growth outlook. Since the pandemic, the world has had several years of uncertainty and countries have demonstrated a real sense of resilience and agility. While the global markets presented formidable challenges, the EPF\u2019s resilient investment approach and unwavering focus on long-term value creation should set the path for it to continue to deliver strong performance and uphold its commitment to its members,\u201d said EPF Chairman Tan Sri Ahmad Badri Mohd Zahir.<\/span><\/p>\n

As of January 2023,\u00a0 the EPF has separated its Simpanan Konvensional and Simpanan Shariah portfolios in relation to their Shariah-compliant investment. This is being done to allow each portfolio\u2019s returns to be optimised in the long run with each portfolio having an independent Strategic Asset Allocation (SAA). This seperation also serves to ensure that assets under both Simpanan Shariah and Simpanan Konvensional are well diversified across asset classes, markets, geographic, etc.<\/span><\/p>\n

<\/span>Retirement security still a high priority<\/b><\/span><\/h2>\n

EPF seeks to embark on several new initiatives to meet the evolving needs of its members in 2024. Ensuring the financial resilience and wellbeing of members during their retirement years remains a top priority for the organisation.\u00a0<\/span><\/p>\n

In order to achieve this goal, the EPF\u2019s range of products and services have been enhanced to tailor to different life stages and financial goals. This includes the enhancement to the EPF\u2019s i-Saraan programme in which the Government\u2019s maximum matching incentive limit for the EPF\u2019s i-Saraan programme has been increased from RM300 to RM500 per year in order to encourage members to continue saving for retirement.\u00a0<\/span><\/p>\n

The EPF\u2019s <\/span>i-Lindung Phase 2<\/span><\/a> was also launched in February 2024, which allows members to use funds in their Account 2 to purchase insurance and takaful products consisting of life and critical illness protection for their immediate family members.\u00a0<\/span><\/p>\n

Tan Sri Ahmad Badri said the EPF will continue to support the implementation of initiatives that seek to catalyse the accumulation and strengthen member\u2019s retirement income, with a view to helping EPF members and future members achieve a dignified retirement.\u00a0<\/span><\/p>\n

The crediting of the dividends for both Simpanan Konvensional and Simpanan Shariah was completed on Sunday, 3 March 2024. Members may check their accounts via i-Akaun or get their statement from EPF\u2019s Self-Service Terminal (SST) nationwide.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

This is thanks to a more diverse portfolio and active fund management.<\/p>\n","protected":false},"author":58,"featured_media":59264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[216,240],"tags":[1486,340,678,1381,530,766,982,649,650],"class_list":["post-62030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates","category-retirement-planning","tag-dividend","tag-epf","tag-epf-dividend","tag-epf-members","tag-kwsp","tag-money-management","tag-news","tag-retirement","tag-retirement-planning"],"acf":[],"yoast_head":"\nEPF Reveals Higher Dividend Rates For 2023<\/title>\n<meta name=\"description\" content=\"The EPF has just announced higher dividend rates for the year of 2023 for both Simpanan Konvensional and Simpanan Shariah.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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