EPF declares 5.2 pct dividend for 2020, total payouts at RM47.64 bln

The total payout for 2020 amounts to RM47.64 billion. File Photo

KUCHING (Feb 27): The Employees Provident Fund (EPF) has declared a 5.2 per cent dividend with a payout amounting to RM42.88 billion for conventional savings and 4.9 per cent for Shariah savings with a payout worth RM4.76 billion for the Year 2020.

Cumulatively, the total payout for 2020 amounts to RM47.64 billion, said a statement today.

“With an average five-year real dividend of 4.62 per cent for conventional savings and 4.32 per cent for Shariah savings after adjusting for inflation, the EPF has exceeded its strategic target of
declaring at least two per cent real dividend on average for a rolling five-year basis,” said the statement.

EPF chairman Tan Sri Ahmad Badri Mohd Zahir said: “We managed to safeguard our members’ retirement savings well while meeting their immediate needs to deal with the current challenges.”

“It was not easy at times as we had to walk a tightrope in ensuring that our members survive the difficult times while balancing their future needs. The quick spread of Covid-19 and its transmissibility made it a Black Swan event that many found challenging to manage.

“However, we were proactive in managing the pandemic and that helped us to ride through the challenges. Our focus on digitalisation enabled us to assist our members more efficiently and seamlessly while ensuring that we remain relevant to members who are more technology-savvy,” he was quoted as saying in the statement.

According to Ahmad Badri, the EPF’s speed of adaptability in its investment strategy and processes ensured that they were able to deliver optimum performance, and they further leveraged on the strength of their approximately 250-strong investment professionals who diligently managed the portfolios and took proactive measures.

He added that solid teamwork and digital infrastructure ensured that they could adapt seamlessly to the new work norms.

The EPF also rebalanced its investment portfolios based on thorough consideration on how the Covid-19 pandemic and global uncertainties such as the US presidential election in November last year, the continuous US-China trade dispute, and the impact of the Brexit negotiations had influenced capital markets worldwide, added the statement.

 

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