Netizens Divided Over EPF’s 2023 Dividend Amount
EPF announced a 5.5% dividend rate for conventional savings and 5.4% for syariah funds.
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Many people have mixed reactions toward the newly declared dividend for the Employees Provident Fund (EPF) for the year 2023.
For Conventional Savings, EPF announced a 5.5% dividend rate, with a total distribution of RM50.3 billion.
Meanwhile, RM7.5 billion was paid out at a 5.4% rate for Syariah Funds.
This amount is an increase from the dividend payments made in 2022, which were 5.35% for traditional savings accounts and 4.75% for Syariah accounts.
READ MORE: EPF Announces 5.5% Dividend Rate For 2023, 5.4% For Syariah Savings
As stated above, many people are divided on their opinions regarding the dividend rates that were declared.
Many are not happy with the percentage of dividends although it is higher compared to 2022.
Need to do better, average return.
— Han Leong (@nghanleong) March 3, 2024
Disappointing!!!!
— HumansAreEqual (@oyk8) March 3, 2024
Since EPF previously stated that the performance in Q1 to Q3 of 2023 was good, a 0.15% increase in the conventional savings rate seemed unacceptable to many.
Previously posted Q1-Q3 ‘24 performance so good – how come only 0.15% better than last year ??
— margaretc (@cttmeg) March 3, 2024
Very disappointed with the dividend considering the fact that EPF did very well for the first 9 months of 2023. And the final quarter saw global markets performed very well. Hence, would have expected way better dividends than 5.5%.
— Alex Chai (@alexchaish) March 3, 2024
A netizen however congratulated the good performance but still was disappointed with the dividend announced.
As an EPF member, he requested details of the investment profit and the decision on the distribution to be made transparent to the public.
Foremost, congrats for another good year. But since EPF is accountable to its members, as a member, I would like to request the detail of 2023 investment profit to be made transparent to the public. And the decision of the level of distribution and retained income. Terima kasih.
— Derick Khoo (@dk_derick72) March 3, 2024
1. Asking how @KWSPMalaysia differentiate convntional & syariah investmnt scheme & related profit distributn.
— conrad (@conrad_5) March 3, 2024
2. Pls share brkdown of profit attain in both this scheme relative to total savings by contributrs?
3. How much retain profit fr convntional & syariah for yr close 2023.
On the other hand, it seems like many are grateful for the percentage of dividends that were announced.
5.4% 👏🏼
— Don (@danialnordin_) March 3, 2024
Alhamdulillah. Road to early retirement.
— chill (@_soultz_) March 3, 2024
Alhamdulillah, InsyaAllah warga KWSP dipermudahkan seterusnya.
— mnrohani (@mnrohani1) March 3, 2024
For the Syariah dividend rate, many people are happy with the increase of 0.65% from the year 2022.
Many were seen to encourage others to convert their EPF savings from Conventional to Syariah.
One netizen pointed out that it was good to see that the Syariah Funds were as competitive as the Conventional Funds.
It’s great to see simpanan syariah pun competitive and its return is almost like konvensional. And both are even higher than ASB’s. Muslims yang tak convert lagi their kwsp fund to syariah can do so. https://t.co/Cq2m82x6NC
— izzy 🇵🇸 (@izdiyani) March 3, 2024
Really good imo, especially for those on the Shariah portfolio.
— Emir | The Millennial Finance (@themillennialf_) March 3, 2024
That returned quite a bit higher compared to 2022 https://t.co/Txmms5TPw1
Kalau tengok dari nombor ni, masih ramai yang muslim belum tukar ke simpanan shariah, marilah ramai2 bertukar ke simpanan shariah 🤲🏼 https://t.co/4T5gtEnXeo
— Naqib Nash (@naqibnash) March 3, 2024
However, another said it was a shocker to see that the Syariah Funds performed better than the Conventional Funds.
“Another shocker is the Shariah one. Such a huge jump from last year. What book did you cook to get that number. I have trust issue with EPF now,” the netizen commented.
Seriously thought it's gonna be at least 5.8%. So this disappointing. Another shocker is the Shariah one. Such a huge jump from last year. What book did you cook to get that number. I have trust issue with EPF now.
— Taevil (@Taevil4) March 3, 2024
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