EPF

SHAH ALAM, March 4 — The Employees' Provident Fund (EPF) said today it is not in favour of another round of early withdrawal as many Bumiputera account ...

The scary thing is that only 19 per cent of our active members have reached this very threshold we have set for basic savings. Meanwhile, a 4.75 per cent dividend with a total payout of RM5.70 billion for 2022 will be given to Shariah savings members. The EPF announced today a dividend rate of 5.35 per cent will be given to conventional savings for 2022, with a total payout of RM45.44 billion. He also voiced his concern over the fact that only 19 per cent of active members have achieved the basic saving targets while only 3 per cent reached the adequate saving target, which stands at having RM600,000 in the EPF account by the age of 55. He pointed out that median EPF savings for Bumiputera savers have gone down from RM15,500 to RM4,900 as of December 2022, a significant 70 per cent drop. Meanwhile, Amir Hamzah said that Malaysians’ retirement security remains EPF’s key priority because only 36 per cent of its near-retirement members have achieved the basic savings requirements.

The Employees Provident Fund (EPF) has declared a dividend rate of 5.35% for conventional savings for 2022, with a total payout of RM45.44 billion.

Amir said to ensure long-term portfolio health, the fund had taken the measure of writing down RM3.43 billion of its listed equity portfolio in 2022, higher than the RM1.15 billion write down recorded in 2021, in line with the volatility in the equity markets. In 2022, the equities asset class contributed RM30.54 billion, or 55% of the EPF’s total gross income, lower than the RM41.06 billion recorded in 2021. As of Dec 31, 2022, the EPF had recorded a lower total gross investment income of RM55.33 billion compared with RM68.89 billion in 2021, driven by high market volatility and lower valuations across equity and fixed income markets. EPF CEO Amir Hamzah Azizan also announced a 4.75% dividend for shariah savings with total payout of RM5.70 billion for 2022. "Notwithstanding the economic situation, we will continue to prioritise the long-term success of our investment portfolio and the rebuilding of our members’ retirement savings," he added. The Employees Provident Fund (EPF) has declared a dividend rate of 5.35% for conventional savings for 2022, with a total payout of RM45.44 billion.

KUALA LUMPUR: The Employees' Provident Fund (EPF) has cautioned that the investment climate will remain challenging after announcing lower investment income ...

SHAH ALAM: The low wage structure in Malaysia is one of the reasons why there is inadequacy of retirement savings, says the Employees Provident Fund (EPF).

"We need to push for living wage to address the inadequacy," he said. As for those who own a car, they would need RM2,600. "I think this is the biggest push that needs to happen in the country," he added. This he said was higher than the minimum wage rate of RM1,500 and lower than the living wage rate of RM2,700. He said there was a need to increase the base for savings and the issue of low wage structure must be addressed as the minimum wage of RM1,500 was significantly below the living wage and minimum expenditure required. "This is too low and we will support the initiative to push towards a living wage," he said.

The median savings of the Employees Provident Fund's (EPF) Bumiputera and Indian members have dropped significantly, following the multiple Covid-19 ...

This was followed by the middle 40% group (M40), whose median savings declined 34% to RM19,926, from RM30,113 over the same period. In terms of income groups, Amir Hamzah said the median savings of EPF members in the bottom 40% group (B40) were hit the most, falling 70% to RM577 as at December 2022, from RM2,434 as at April 2020. Bumiputera EPF members saw a whopping 70% drop in median savings to RM4,900 as at December 2022, from RM15,500 as at April 2020, while Indian EPF members’ median savings declined 40% to RM14,900 from RM25,700 during the same period, said EPF chief executive officer Datuk Seri Amir Hamzah Azizan at a media briefing to announce the fund's 2022 financial performance on Saturday (March 4).

SHAH ALAM: The Employees' Provident Fund (EPF) said today it is not in favour of another round of early withdrawal as many Bumiputera account holders have ...

The scary thing is that only 19 per cent of our active members have reached this very threshold we have set for basic savings. ADVERTISEMENT The EPF announced today a dividend rate of 5.35 per cent will be given to conventional savings for 2022, with a total payout of RM45.44 billion. He also voiced his concern over the fact that only 19 per cent of active members have achieved the basic saving targets while only 3 per cent reached the adequate saving target, which stands at having RM600,000 in the EPF account by the age of 55.

Chief executive officer Datuk Seri Amir Hamzah Azizan said multiple pandemic-related withdrawals have significantly eroded saving levels for Bumiputera and ...

The scary thing is that only 19 per cent of our active members have reached this very threshold we have set for basic savings. The EPF announced today a dividend rate of 5.35 per cent will be given to conventional savings for 2022, with a total payout of RM45.44 billion. He also voiced his concern over the fact that only 19 per cent of active members have achieved the basic saving targets while only 3 per cent reached the adequate saving target, which stands at having RM600,000 in the EPF account by the age of 55.

PETALING JAYA: With the current economic challenges, the 5.35% dividend by the Employees Provident Fund (EPF) for 2022 is considered good for contributors, ...

And the contributions are automatic and accounted for,” she said. Therefore, many growth funds are earning much lower returns because of the financial market downturn in 2022 as evident by the nearly 20% decline in the Global MSCI (Morgan Stanley Capital International) benchmark,” he pointed out. “EPF has to be cautious in its investments in the current volatile market since the fund cited this as a reason for the lower gross investment returns,” she added. “This is worrying and the EPF is a fixed and reliable investment most Malaysians rely on. “As such, the scenario has to adjust to the collection they have,” she said. “The performance is also respectable as the fund had to adjust its portfolio to meet the large withdrawals allowed as part of the Covid-19 pandemic support packages,” he said in response to EPF’s announcement yesterday.

As at December 31, 2022, the EPF recorded a lower total gross investment income of RM55.33 billion, compared to RM68.89 billion in 2021, driven by high ...

This is in addition to the 15 mobile vehicles and 63 employees already deployed by the Mobile Team. A total of 74 per cent of the total amount came from Shariah-compliant counters that underperformed, which in turn impacted the EPF’s Simpanan Shariah performance for the year. It also highlights the continuous trust in the EPF to safeguard members’ lifelong savings. Tan Sri Ahmad Badri said: “We anticipate that the 2023 investment climate will continue to be challenging in the short and medium term. With almost half of the EPF’s total asset allocation in Fixed Income instruments, comprising Malaysian Government Securities and Equivalent, as well as Loans and Bonds, the retirement fund was able to maintain steady returns. Income from the portfolio contributed RM18.19 billion, or 33 per cent of the EPF’s total gross income. The Equities asset class contributed RM30.54 billion, or 55 per cent of the EPF’s total gross income, lower compared to the RM41.06 billion recorded in 2021. The performance of these two asset classes is in line with the return expectations set by the SAA. Notwithstanding the economic situation, we will continue to prioritise the long-term success of our investment portfolio and the rebuilding of our members’ retirement savings.” Geopolitical instability was also a major factor in driving market gyrations, with the Russian invasion of Ukraine causing a major dislocation in commodity prices, compounded by sabre rattling between the US and China. The financial year 2022 was marked by both slower global growth and high inflation rates, compounded by the tightening of monetary policies by major central banks to reel in inflationary pressure. This was largely due to our overarching strategy that emphasises long term sustainability of investments and returns, in line with the EPF’s Strategic Asset Allocation (SAA).

SHAH ALAM: The Employees Provident Fund (EPF) withdrawals, amounting to RM145.5bil since 2020, are larger than the individual gross domestic product (GDP) ...

The country needs to focus in terms of addressing a potential retirement crisis. “Only 19% of our active members today have reached the threshold that we have set for basic savings. Amir noted that the inadequate retirement savings remains a challenge as only 19%, or 2.5 million members, had achieved the minimum basic savings threshold of RM240,000 by the age of 55. The median savings of the Bottom 40 (B40) dropped by 76% to RM577 – from RM2,434. “The basic savings have been reduced by 70% because of the withdrawals,” he said, while highlighting the prevalence of withdrawals in the community. The median savings of the Middle 40 (M40) shrank by 34% from RM30,113 to RM19,926.

SHAH ALAM, March 4 — The Employees Provident Fund (EPF) has declared a dividend rate of 5.35 per cent for conventional savings for 2022 with a total payout ...

During the EPF 2022 financial performance media briefing, its chief executive officer, Datuk Seri Amir Hamzah Azizan, also announced a 4.75 per cent dividend for shariah savings with total payout of RM5.70 billion for 2022. This brings the total payout amount for 2022 to RM51.14 billion. SHAH ALAM, March 4 — The Employees Provident Fund (EPF) has declared a dividend rate of 5.35 per cent for conventional savings for 2022 with a total payout of RM45.44 billion.

KUALA LUMPUR, March 5 (Bernama) — The lower 2022 Employees Provident Fund (EPF) dividend rate for conventional savings and shariah savings were within the ...

“As more people get employed, the greater number of workers become EPF members. “Meaning to say, how much financial assistance one could get on a per capita basis. Amir Hamzah also stressed that the urgency of withdrawals is not something that the EPF supports and hopes that the government continue to support the “no more withdrawal” decision due to the lower savings recorded by the members. In an announcement yesterday, the EPF declared a dividend rate of 5.35 per cent for conventional savings for 2022 with a total payout of RM45.44 billion, while a 4.75 per cent dividend for shariah savings with a total payout of RM5.70 billion. Commenting on the positive growth of EPF memberships, Mohd Afzanizam said this indicates that the improvement in the labour market is moving along with the higher number of EPF members. “Despite all the calamities, the EPF managed to deliver a dividend that is above the inflation rate of 3.3 per cent in 2022 and higher than the 10-year Malaysian Government Securities (MGS) yields of 3.87 per cent at the end of last year,” he told Bernama.

SHAH ALAM: The Employees Provident Fund (EPF) has declared a dividend rate of 5.35 per cent for conventional savings for 2022, with a total payout of ...

Its Chief Executive Officer Datuk Seri Amir Hamzah Azizan also announced a 4.75 per cent dividend for Shariah savings with total payout of RM5.70 billion for 2022. Amir Hamzah said to ensure long-term portfolio health, the fund took the prudent measure of writing down RM3.43 billion of its listed equity portfolio in 2022, which was higher than the RM1.15 billion write down recorded in 2021, in line with the volatility in the equity markets. - Pix by RinggitPlus ADVERTISEMENT SHAH ALAM: The Employees Provident Fund (EPF) has declared a dividend rate of 5.35 per cent for conventional savings for 2022, with a total payout of RM45.44 billion. As at Dec 31, 2022, the EPF recorded a lower total gross investment income of RM55.33 billion, compared with RM68.89 billion in 2021, driven by high market volatility and lower valuations across equity and fixed income markets.

KUALA LUMPUR: The lower 2022 Employees Provident Fund (EPF) dividend rate for conventional savings and shariah savings were within the ambit of expectation, ...

"Meaning to say, how much financial assistance one could get on a per capita basis. "As more people get employed, the greater number of workers become EPF members. ALSO READ: