EMPLOYEES Provident Fund (EPF) declares a 5.5% dividend for conventional savings in 2023, totalling RM50.3 bil payout, up from 5.35% in 2022. Shariah savings are at 5.4%, RM7.5 bil payout. However, the total dividend payout of RM57.8 bil is the highest in EPF’s history.But many of those who have their savings with the EPF say they are disappointed with the dividends, as they expected a better percentage.Some users on the X platform are saying the EPF board should divest from their current investment portfolio to focus on US ETFs, for example. They believe these will reap better benefits for EPF account holders.Others are saying individuals who invest in some stocks, like Maybank will probably get a 7% return, showing disbelief that EPF could only pull 5.5%.Meanwhile, some netizens on X are asking why there are two types of EPF savings, the conventional and the Shariah, arguing that the conventional is the one pumping the funds into the Shariah savings. – March 3, 2024
Achieving a 5.4-5.5% return is feasible for anyone investing in U.S. fixed deposits (FDs) and funds, no need for a fund manager. They create two funds indirectly creating trust deficit between races and EPF.
— Kah Wooi (@kahwooi_tan) March 3, 2024
bollocks! Need the forensic accountants to evaluate if non shariah earnings was used to subsidise the shariah portfolio
— LKHee (@StevenL5750) March 3, 2024
5.5 pct with tens of proffesional fund mgrs is below par! we expect better
— adambakri (@Adam_bakri) March 3, 2024
