Its president Datuk Abdul Halim Mansor said while MTUC was not entirely satisfied with the rate of 5.45%, he noted EPF’s heavy responsibility in deciding the rate based on the returns from its investments, impacted by economic uncertainties.
“All these developments have impacted EPF’s investments. We are confident EPF will take appropriate measures to strengthen investment policies and tackle the economic headwinds ahead,” he said. “In this context, we are confident EPF can make improvements to its internal processes and procedures to approve investments locally and abroad to maximise returns,” he said.
Yesterday, EPF declared a dividend of 5.45% for Conventional Savings and 5% for Syariah Savings for 2019.This is the lowest dividend rate for Conventional Savings since 2008.The EPF said its overall investment assets grew to RM924.75bil as it experienced a 2.8% growth in membership to 14.6 million while its registered employer base expanded by 3% to 522,300 employers.EPF chief executive officer Tunku Alizakri Alias said as anticipated, there was substantially more volatility in 2019.
Tunku Alizakri said the domestic markets also did not support the income-generating capabilities of the EPF as 70% of the fund’s assets were in Malaysia, with a major part in domestic equities.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: fmtoday - 🏆 5. / 72 Read more »
Source: msianinsight - 🏆 8. / 63 Read more »
Source: NST_Online - 🏆 17. / 53 Read more »
Source: msianinsight - 🏆 8. / 63 Read more »
Source: staronline - 🏆 4. / 75 Read more »
Source: malaymail - 🏆 1. / 86 Read more »