FINANCE Minister II, Datuk Seri Amir Hamzah Azizan, has praised the Employees Provident Fund (EPF) for its impressive dividend rates in 2024, highlighting the fund’s resilience and steadfast dedication to securing the financial futures of its members during retirement.
In a post shared on Instagram, Amir Hamzah commended the EPF for surpassing expectations, particularly in light of global economic uncertainties.
"The EPF has once again exceeded expectations despite facing global economic uncertainties," he said.
EPF Declares Impressive Dividends for 2024
For 2024, the EPF reiterated a competitive dividend rate of 6.30% for both its Simpanan Konvensional and Simpanan Shariah portfolios. This translates into payouts of RM63.05 billion and RM10.19 billion, respectively. The total payout for the year amounts to RM73.24 billion.
Amir Hamzah noted that the performance of the Simpanan Shariah portfolio was particularly noteworthy, stating, "The Simpanan Shariah portfolio's performance was on par with Simpanan Konvensional following the separation of both portfolios in January 2024."
Growth in Voluntary Contributions Signals Positive Trends
The Minister also pointed to the increase in voluntary contributions as a positive indicator, reflecting growing awareness among Malaysians about the importance of saving for retirement.
"The increase in voluntary contributions clearly indicates that more Malaysians are choosing to ensure they have sufficient savings when they retire," he said today.
EPF’s Outreach Programme Sees Significant Growth
In a statement issued by the EPF, it was revealed that the fund’s Outreach Programme experienced remarkable growth, with voluntary contributors rising to 1.19 million in 2024, a significant 32% increase from 902,213 contributors in the previous year.
“These three achievements—strong dividend performance, the surge in Simpanan Shariah’s growth, and the rise in voluntary contributions—are clear signs that the nation's economy is on an upward trajectory,” Amir Hamzah said.
EPF’s Role in Strengthening National Economy
Amir Hamzah elaborated on how EPF's excellent dividend performance not only benefits its members but also plays a crucial role in boosting Malaysia’s overall economy.
"The EPF's outstanding dividend performance not only enhances the retirement savings of its members but also contributes to the nation’s economic strength," he said.
Supporting Economic Growth through MADANI Framework
Under the leadership of Prime Minister Datuk Seri Anwar Ibrahim, Amir Hamzah credited the government’s pro-growth policies, investments in infrastructure, and fiscal measures under the MADANI Economy framework for enhancing business confidence and supporting vital sectors like manufacturing, services, and technology.
The EPF is one of six government-linked investment companies (GLICs) participating in the Finance Ministry-led GEAR-uP programme, which aims to accelerate the restructuring of Malaysia's economy under the MADANI framework.
GEAR-uP Programme to Boost Economic Restructuring
As part of the GEAR-uP programme, the participating GLICs are committed to investing RM120 billion in domestic direct investments over the next five years, in addition to RM440 billion in public market investments.
Other GLICs involved in the programme include Khazanah Nasional Bhd, the Retirement Fund Inc (KWAP), Permodalan Nasional Bhd, Lembaga Tabung Haji, and the Armed Forces Fund Board (LTAT).
Together, these efforts are set to play a pivotal role in driving Malaysia’s economic transformation.EPF. March 1, 2025
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