EPF 2024 dividend expected to be better than 2023, says Amir Hamzah

PUTRAJAYA (Feb 23): The Employees Provident Fund’s (EPF) encouraging performance for the third quarter of 2024 is expected to yield good returns for contributors.

Second Finance Minister Datuk Seri Amir Hamzah Azizan said based on this strong performance, EPF contributors can expect better dividend distribution for 2024 against 2023.

“If we look at its performance up to third quarter of last year, it (the performance) is encouraging. By the third quarter, the EPF has already earned RM57.5 billion (investment income), which is better than the previous year.

“This performance will continue into the fourth quarter. The dividend will be encouraging but I cannot comment what it will be. Just wait for it. It will be better,” he told the media after completing the Larian Asean: Trek Kewangan @MOF event organised by the Finance Ministry (MOF) here today.

EPF declared a higher dividend of 5.50 per cent for 2023 versus 5.35 per cent in 2022 for conventional savings, with total distribution of RM50.33 billion.

It was 5.40 per cent versus 4.75 per cent in 2022 for Shariah savings, with a total distribution of RM7.48 billion.

EPF is expected to announce 2024 dividend rate in early March. Several economists and academics had previously predicted EPF’s 2024 dividend to exceed six per cent.

More than 3,700 MOF staff and members of the public participated in the event held in conjunction with Malaysia’s Asean chairmanship 2025. Amir Hamzah and MOF top management completed the three-kilometre category.

The purpose of the run was to expose MOF staff and the public to Asean, in terms of its establishment, role, its importance to Malaysia and member countries, as well as the activities that have been and will be carried out throughout the year, especially by MOF.

“The run also supports healthy living practices, especially among MOF staff in line with the Madani values of well-being, which emphasise balance in life,” he said.