Higher EPF dividend of
6.3% for conventional,
shariah accounts
The rates are an increase from 5.5% and 5.4%, respectively, given out for 2023.
The total payout for both accounts will amount to RM73.24 billion.
The 6.3% rates represent an upward trend on the dividends for both accounts over the past three years.
For 2023, EPF declared a 5.5% rate for conventional savings and 5.4% for shariah savings. It was 5.35% and 4.7% for conventional and shariah accounts, respectively, the year before that.
“The EPF is pleased to announce higher dividends for 2024, driven by recovering global and domestic markets, resilient economic growth, and sound portfolio management,” said its chairman, Zuki Ali, in a statement.
“Our diversified investment strategy has allowed us to capitalise on growth opportunities, optimise returns, and reinforce the long-term financial security of our members.
“Domestically, strong investments, a healthy labour market, and stable inflation boosted demand, while exports benefited from global stability and the tech upcycle.”
The EPF said its conventional savings account holders will see a total payout of RM63.05 billion while the shariah account holders will receive a total payout of RM10.10 billion, bringing the total payout for 2024 to RM73.24 billion.
It said that as of Dec 31, 2024, investment assets stood at RM1,249.71 billion, an increase of 10% from RM1,135.82 billion in 2023.
This increase was driven by portfolio income and net contributions of RM108.22 billion, an 11% rise from RM97.50 billion in 2023.
The EPF also recorded a total investment income of RM74.46 billion last year, 11% higher than the RM68.99 billion recorded in 2023.
Here's the reality about Conventional and Syaria accounts having the same dividend.
ReplyDeleteSyaria accounts give up some very profitable investments in gaming , alcohol and tobacco corporations.
So, I suspect the Syaria accounts dividends are being cross-subsidised.
of coz
Delete