KUALA LUMPUR, March 3 – The Employees Provident Fund (EPF) has announced a dividend rate of 5.5% for conventional savings and 5.4% for shariah accounts for the year 2023, marking an increase from the previous year’s rates. During a press briefing on the retirement fund’s 2023 performance, EPF chief executive officer Ahmad Zulqarnain Onn attributed the higher dividend rates to the strong performance of its foreign investments, which constitute 38% of its total assets.
This increase reflects the fund’s efforts to maximize returns for its members amidst a challenging economic landscape. Compared to the rates for 2022, which stood at 5.35% for conventional savings and 4.75% for shariah accounts, the 2023 dividends represent a positive growth trajectory. Notably, the EPF has historically delivered strong returns to its members, with the highest dividends declared at 8.5% from 1983 to 1987 and 8% from 1988 to 1994, underscoring its commitment to ensuring financial security for contributors.
