Second Finance Minister, Dato' Seri Amir Hamzah, anticipates that the Employees Provident Fund (EPF)'s outstanding performance in the third quarter of last year will bring lucrative dividend returns for members.
He stated that based on the EPF's strong performance in the third quarter of 2024, members can expect better news regarding the 2024 dividend compared to the previous year.
“If we review the performance of the third quarter of last year, it is very encouraging. Up to the third quarter, the EPF has profited by RM57.5 billion (investment returns). Better than the previous year.”
“Therefore, God willing, the performance of the fourth quarter will continue, and the dividends will be encouraging. But I cannot comment on what the dividend rate will be. We have to wait. I can only say that things will be better, God willing.”
He stated this to reporters after officiating the ASEAN Run: Financial Journey@MOF organized by the Ministry of Finance on Sunday (23rd).
In 2023, the EPF increased its dividend, the conventional savings dividend rate was 5.5%, compared to 5.35% in 2022, with a total dividend amount of RM50.33 billion.
As for the Islamic accounts, the dividend rate in 2020 was 5.4%, while in 2022 it was 4.75%, with a total amount of RM7.48 billion.
The EPF is expected to announce its 2024 dividend rate in early March.
Previously, several economic experts and scholars estimated the EPF dividend for 2024 to exceed 6%.
Held in conjunction with Malaysia's chairmanship of ASEAN this year, the ASEAN Run: Financial Journey@MOF saw the participation of over 3,700 participants, including finance ministry staff and the public.
Amir, together with high-level management from the Ministry of Finance, successfully completed the 3-kilometer run.
He stated that the event aims to inform Ministry of Finance personnel and the public about the establishment of ASEAN, its role and importance to Malaysia and its member countries, and the series of events already and to be held this year, especially those introduced by the Ministry of Finance through financial channels in conjunction with Malaysia's chairmanship of ASEAN.
He said that the running event also supports a healthy lifestyle, especially for ministry employees, which aligns with Malaysia Madani's emphasis on balanced living and harmonious values.