EPF urged to declare higher dividend

The Malaysian Trades Union Congress (MTUC) today called on the Employees Provident Fund (EPF) to declare a higher dividend this year, saying the EPF had obtained increased income from its
investments.

MTUC vice-president A. Balasubramaniam said that in the last 10 years, the highest dividend paid was six per cent, in the year 2000.

In the other years, it was between 4.25 and 5.8 per cent, he said, adding that last year it was 4.5 per cent.

Balasubramaniam said the EPF had announced an income of RM5.5 billion in the third quarter of last year compared to RM3.6 billion in the similar quarter of 2008.

"As a result of this increased income, we expect the EPF to pay a higher dividend," he said.

The EPF has 12 million members, of whom 5.1 million are active contributors. -- Bernama