TAPAH: The gap between the Employees Provident Fund (EPF) dividend rate for conventional and syariah savings declared this year has reduced compared to previous year, says Datuk Seri Amir Hamzah Azizan. "If we look at the returns, the 5.5% dividend rate is among the highest declared. EPF earlier on Sunday declared a dividend rate of 5.5% for conventional savings for 2023, with a total payout of RM50.3bil and a 5.4% dividend rate for syariah savings, with a total payout of RM7.5bil. For 2022, EPF declared a dividend rate of 5.35% for conventional savings with a total payout of RM45.44bil and 4.75% for syariah savings, with a payout amounting to RM5.7bil. So for EPF, we see the longer one keeps their money, there is a bigger compounding (interest) effect," he said.

Source: The Star March 03, 2024 22:09 UTC