The Employees Provident Fund (EPF) has announced a higher 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. In 2022, the dividends were 5.35% for conventional savings and 4.75% for shariah accounts.

This enhanced dividend distribution is attributed to the favorable performance of the EPF's foreign investments, constituting 38% of its total assets. CEO Ahmad Zulqarnain Onn revealed these rates during the press briefing on the retirement fund's 2023 performance. The highest historical dividends were recorded at 8.5% from 1983 to 1987 and 8% from 1988 to 1994.

Source / Image Credit : Bernama, The Star, Astro Awani