SHAH ALAM: The Employees Provident Fund (EPF) recorded RM66.99bil in total investment income for the financial year ended Dec 31, 2023 – which is a 29% year-on-year increase from the RM51.91bil reported in 2022. The total investment income was reported after netting off equity write-downs. Of the RM66.99bil in total investment income, RM5.72bil was generated from mark-to-market...
KUALA LUMPUR: The Employees' Provident Fund (EPF) is expected to announce the flexible account or Account 3 initiative in April, including the withdrawal mechanism and flexibility for contributors, Finance Minister II Datuk Seri Amir Hamzah Azizan said. He said Account 3 will be explained to contributors after the dividend distribution announcement this Sunday. "They (EPF) will also...
PETALING JAYA: The Employees' Provident Fund (EPF) is expected to announce the 2023 dividends on Sunday (March 3). As in previous years, dividends for the conventional and syariah savings for 2023 are expected to be announced during the retirement fund’s annual financial performance briefing, which will be on Sunday. Analysts have previously indicated that the dividends for...
PETALING JAYA: Contributors are hoping for a higher dividend payout by the Employees Provident Fund (EPF) this year to grow their retirement nest egg. Jeremy Koh, 56, who holds both the Emas and conventional savings account, is hoping for a higher dividend as it will benefit both accounts. “As a person who is above 55 yet still...
PETALING JAYA: With the Employees Provident Fund (EPF) recording a stronger performance in the first nine months of the 2023 financial year (FY23), experts are anticipating a higher dividend declaration this year. The dividend announcement is expected to be made in early March. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid expects the dividend rate...
PETALING JAYA: Even a small voluntary contribution into the Employees Provident Fund (EPF) can snowball over time and workers in the informal sectors should not miss out, say financial experts. The power of “compound interest”, they pointed out, would increase even with the minimum RM10 contribution to EPF. ALSO READ: EPF continues to be flexible for long-term gains When...
KUALA LUMPUR: The Employees Provident Fund (EPF) today announced the disbursement of a RM708mil Government Additional Contribution incentive to its 1.4 million members aged between 40 and under 55. The incentive was allocated to individuals with EPF savings of RM10,000 and below in their Account 1 as of Feb 24, 2023, it said in a statement. "The...
KUALA LUMPUR: The Employees Provident Fund (EPF) today announced the disbursement of a RM708mil Government Additional Contribution incentive to its 1.4 million members aged between 40 and under 55. The incentive was allocated to individuals with EPF savings of RM10,000 and below in their Account 1 as of Feb 24, 2023, it said in a statement. "The...
KUALA LUMPUR: Any new additional pre-retirement withdrawals, whether targeted or open, will further exacerbate the issue of insufficient retirement savings, which is currently at a very alarming level, the Finance Ministry said. The ministry said it is also not a solution to the increasing financial burden of the people. "As of Sept 30, 2023, a total of...
KUALA LUMPUR: The government has agreed to study the proposal for a phased expansion of social protection coverage to the working-age population of Malaysia reaching 18 years old to ensure old age income security from 2024 onwards. Prime Minister Datuk Seri Anwar Ibrahim said that this decision was made during the 6th Meeting of the Malaysian...
