EPF Dividend 2024 Expected to Rise
With the dividend payout expected to be higher than last year, EPF members can expect a significant boost to their retirement savings. The exact dividend rate will be announced on March 1, and members are advised to check their accounts for updates.
The Employees Provident Fund (EPF) is set to declare its 2024 dividend payout on March 1, with expectations of higher returns due to strong investment performance, driven by positive equity markets and stable fixed-income investments.
The EPF's strong performance in 2024 has been attributed to its impressive investment income, which rose to RM57.57 billion for the first nine months of 2024, a 20% increase from the same period in 2023. The fund's equity investments generated RM18.32 billion in the third quarter of 2024, nearly double the RM9.17 billion recorded in the same period in 2023. Fixed income investments also contributed significantly, with RM6.51 billion, or 33% of the EPF's total investment income for the third quarter of 2024.
Analysts predict a higher dividend payout, with some expecting up to 6% for conventional savings and 5.5% to 5.6% for syariah funds. This would be higher than the 5.5% declared for conventional savings and 5.4% for syariah savings in 2023. The expected higher returns are a welcome relief for EPF members, who have been eagerly awaiting the announcement.
As the EPF prepares to declare its 2024 dividend payout, members can look forward to a potentially higher return on their investments. The strong performance of the EPF is a testament to the fund's sound investment strategy and its ability to navigate challenging market conditions.
