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[UPDATED] EPF announces 6.3% dividend for 2024 | Scoop
EPF’s 6.3% dividend rate for 2024 comes on the back of gross investment income of RM74.46 billion for the financial year ended Dec 31, 2024, and is 11% higher from RM66.99 billion in 2023. - Scoop file pic, March 1, 2025
News

[UPDATED] EPF announces 6.3% dividend for 2024

The rate is the same for both conventional and shariah accounts and involves a total payout of RM73.24 billion

Scoop Reporters
Updated
12:43 PM MYT

 

KUALA LUMPUR  — The Employees Provident Fund (EPF) has announced a higher dividend rate of 6.3% for conventional savings and 6.3% for shariah accounts for 2024.

Its CEO Ahmad Zulqarnain Onn said the total payout for dividends for 2024 is RM73.24 billion, Bernama reports. The 6.3% dividend rate is also the highest since 2017, he added.

For the financial year ended Dec 31, 2024, the EPF recorded gross investment income of RM74.46 billion, up 11% from RM66.99 billion in 2023. 

The fund’s dividend payout for 2023 was 5.5% for conventional savings, and 5.4% for shariah accounts.

On the fund’s higher gross investment income for 2024, Ahmad Zulqarnain said the amount is “net of listed equity write downs recorded for the year,” he said during the EPF’s 2024 dividend briefing here today. 

EPF chairman Tan Sri Mohd Zuki Ali meanwhile said the fund’s higher dividends for 2024 is driven by recovering global and domestic markets, resilient economic growth, and sound portfolio management.

“Our diversified investment strategy allowed us to capitalise on growth opportunities, optimise returns, and reinforce the long-term financial security of our members.

“Domestically, strong investments, a healthy labour market, and stable inflation boosted demand while exports benefited from global stability and the tech upcycle,” he said.

Malaysia’s economy grew 5.1% last year (2023: 3.6%), while the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) registered double-digit growth of 12.9% and peaked at 1,678.80 points in August, the highest level since December 2020.

EPF also recorded strong membership growth, in line with the strength of the Malaysian labour market.

New member registrations reached 475,752, bringing its membership to 16.22 million, of which 8.78 million were active members, representing 51 per cent of Malaysia’s 17.32 million labour force.

The active-to-inactive member ratio also improved in 2024 to 54:46. – March 1, 2025


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