KUALA LUMPUR: The strong and competitive dividend rates achieved by the Employees Provident Fund (EPF) for 2024 demonstrate the fund’s resilience and commitment in ensuring a secure future for its members during retirement, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
In an Instagram post, he said the EPF has again exceeded expectations despite facing global economic uncertainties.
The EPF today announced a dividend rate of 6.30 per cent for both Simpanan Konvensional and Simpanan Shariah, involving payouts of RM63.05 billion and RM10.19 billion respectively.
The total payout for 2024 amounts to RM73.24 billion.
Amir Hamzah said it was an achievement to be proud of that the Simpanan Shariah portfolio’s performance was on par with Simpanan Konvensional following the separation of both portfolios in January 2024.
“The increase in voluntary contributions also clearly indicates that more Malaysians are choosing to have sufficient savings when they retire,” he added.
In its statement today, the EPF said its Outreach Programme recorded encouraging growth in voluntary contributors to 1.19 million in 2024, a 32 per cent increase from 902,213 in the preceding year.
“These three achievements, namely dividend performance, the surge in Simpanan Shariah’s performance, and the significant rise in voluntary contributions, are key indicators that the nation’s economy is becoming stronger,” said Amir Hamzah.
The minister said the EPF’s excellent dividend performance not only boosts the members’ retirement savings but also contributes to the overall national economy.
He said that under the administration of Prime Minister Datuk Seri Anwar Ibrahim, the government’s pro-growth policies, investments in infrastructure, and fiscal measures under the MADANI Economy framework play a critical role in boosting business confidence and supporting key sectors such as manufacturing, services and technology.
The EPF is one of six government-linked investment companies (GLICs) participating in the Finance Ministry-led GEAR-uP programme to accelerate the restructuring of the nation’s economy under the MADANI Economy framework.
Under this programme, the participating GLICs are committed to investing RM120 billion in domestic direct investments over five years, on top of RM440 billion in public market investments.
The other GLICs participating in the GEAR-Up programme are Khazanah Nasional Bhd, the Retirement Fund Inc (KWAP), Permodalan Nasional Bhd, Lembaga Tabung Haji, and the Armed Forces Fund Board (LTAT).
