KUALA LUMPUR, March 2 (Bernama) -- The Employees Provident Fund's (EPF) announcement of a high dividend rate for 2024 shows its effectiveness as the manager of workers’ retirement savings, said the Union Network International – Malaysian Liaison Council (UNI-MLC).
UNI-MLC president Datuk Mohamed Shafie BP Mammal said the dividend payout, the highest since 2017, also demonstrated EPF’s ability to generate better returns compared to other savings platforms, including banks.
“As a body representing workers and comprising more than 100 trade unions, UNI-MLC views this increase in dividend rates as a boost to contributors’ confidence in EPF as the custodian of workers’ savings in Malaysia,” he said in a statement today.
Yesterday, EPF announced a dividend rate of 6.30 per cent for Conventional Savings, with a total payout of RM63.05 billion, and 6.30 per cent for Shariah Savings, with a total payout of RM10.19 billion.
Mohamed Shafie added that UNI-MLC believes this "good news" will also encourage more voluntary contributions and savings.
“UNI-MLC is confident that EPF will continue enhancing its investment capabilities to generate better returns for the benefit of its contributors,” he said.
-- BERNAMA
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