UPDATE 3 March 2024: The EPF 2023 dividend rates have been announced here.

The Employees Provident Fund (EPF) is expected to announce the 2023 dividends for its conventional and shariah savings on this coming Sunday, 3 March 2024.

According to the EPF, the announcement will be made by the new chief executive officer, Ahmad Zulqarnain Onn, who recently took over the helm of provident fund after Datuk Seri Amir Hamzah Azizan stepped down from the role. Datuk Seri Amir Hamzah had relinquished his position due to his appointment as Finance Minister II.

Leading up to the announcement, several economists and experts have suggested that the dividends for 2023 may be higher than those announced for the previous year. For 2022, the EPF declared a dividend rate of 5.35% for conventional savings, with a total payout of RM45.44 billion, and 4.75% for shariah savings, with a total payout of RM5.70 billion.

Chief economist of Bank Muamalat, Mohd Afzanizam Abdul Rashid, for instance, forecasted that the dividend rate could fall somewhere between 5.5% to 6% for conventional savings for 2023, and between 5% to 5.5% for shariah savings. This is as the EPF had reported an investment income of RM47.86 billion in the first nine months of 2023 (up to 30 Sept 2023) – a 33% increase from the RM36.04 billion earned during the same period in 2022.  

Similarly, economist Prof Dr Geoffrey Williams also said that EPF members can hope for a good return of around 5.5% to 6%, or maybe more. This is as the EPF’s investment portfolios have benefited from the strategic asset allocation (SAA) policy employed for the management of its portfolios.

(Source: New Straits Times)

• TAGS:
• Ahmad Zulqarnain Onn
• Datuk Seri Amir Hamzah Azizan
• Employees Provident Fund
• Employees Provident Fund (EPF)
• EPF Conventional Savings
• EPF Dividend 2023
• EPF Dividends
• EPF Shariah Savings