KUALA LUMPUR – The Employees Provident Fund (EPF) announced 5.2 percent of dividend distribution amounting to RM42.88 billion for Conventional Savings, and 4.9 percent for the Shariah Savings (RM4.76 billion).
In a statement today, the EPF said that the total dividend for 2020 amounted to RM47.64 billion and is was driven by strong performance from the operational and financial aspects.
“With the five years average of actual dividend at the rate of 4.62 percent for the Conventional Savings and 4.32 percent for the Shariah Savings after inflation adjustments, the EPF has overcome strategic target by declaring the average actual dividend declaration of not less than 2.00 percent for the period of five years in a row,” said the EPF.
According to the statement, the EPF has also successfully recorded an encouraging performance for 2020 despite facing the unforeseen situation of the Covid-19 pandemic, and, in a unique environment of witnessing the world facing with the health and economic double crisis.
Meanwhile, the Chairman of EPF, Tan Sri Ahmad Badri Mohd Zahir said: “EPF has successfully protected the retirement funds of its members well, besides, fulfilling their dire needs to overcome the current challenges.”
According to him, EPF sometimes had to make tough decisions to ensure that its members can withstand the challenging current situation and at the same time, balance their needs in the future.
Ahmad Badri said, the highly contagious and fast spreading Covid-19 has caused difficulties in curbing and controlling the outbreak.
However, he said that the proactive approaches by EPF in overcoming the outbreak has helped the group in overcoming various challenges.
“Focussing on digitalisation enables us to help the members more efficiently and smoothly besides ensuring the EPF remains relevant to its members who are getting more technologically savvy,” he said.
“The quick response of EPF in adapting strategies and investment process has successfully ensured that it reaches the optimum performance.
“We will also continue to utilise our strength of approximately 250 EPF professional investors who are committed and proactive in managing the investment portfolio. Strong cooperation and resilient digital infrastructure will also facilitate our adaptation to the new normal way of working,” he said.
EPF has also balanced all investment portfolios based on careful and thorough consideration.
This factored in various global events such as the Covid-19 pandemic, uncertainties in the United States Presidential Election in November 2020, continuous USA – China trade war and the effects from the Brexit negotiation on the global capital market. –MalaysiaGazette
