It Pays To Save! EPF Contributors Have 6.3% More Reason To Smile
The Employees Provident Fund (EPF) has announced a 6.3% dividend payout for 2024, bringing good news to its contributors. This marks an increase from the previous year’s rates of 5.5% for conventional savings and 5.4% for syariah savings.
With a total payout amounting to RM73.24 billion, this rise reflects EPF’s strong performance in managing investment returns amidst improving economic conditions.
Economic Growth Fuels Higher Dividends
Financial analysts had anticipated a dividend rate of 6% or higher, given the robust economic expansion both globally and domestically. Malaysia’s economy saw a 5.1% growth last year, contributing significantly to the improved returns for EPF investments.
Mohd Sedek Jantan, head of investment research at UOB Kay Hian Wealth Advisors Sdn Bhd, highlighted that the nation’s economic performance played a crucial role in boosting EPF’s overall dividend rate.
Steady Growth for Retirement Security
With this increase, EPF continues to solidify its role in securing better retirement savings for Malaysians. The higher dividends serve as an incentive for contributors to maintain and grow their savings for the future.
Source: The Rakyat Post
