Malaysia’s Employees Provident Fund announces highest-ever dividend payout of RM57.8 billion in 2023
[KUALA LUMPUR] Malaysia’s Employees Provident Fund (EPF) announced its highest dividend payout of RM57.8 billion (S$16.4 billion) for 2023, comprising a 5.5 per cent dividend for members under the conventional savings account and 5.4 per cent for members under the syariah savings account.
At a media conference on Sunday (Mar 3), EPF chief executive officer Ahmad Zulqarnain Onn said the real dividend (after netting off the inflation rate) for conventional savings accounts members was 2.89 per cent and 2.51 per cent for syariah account members.
As at end-2023, EPF had 8.5 million active members – 6.7 million under the conventional savings account, with the remaining under the syariah savings account.
The latest dividend payout of the conventional savings account (5.5 per cent) was higher than the 5.35 per cent for 2022, but lower than its historical high of 8.5 per cent from 1983 to 1987.
The dividends were announced on the back of a total investment income of close to RM67 billion, a 29 per cent increase from RM51.9 billion in 2022.
The EPF’s total fund size has also grown by 13 per cent to RM1.1 trillion in 2023, driven by improvements in investment income and collection contributions.