EPF – Growing or Otherwise?
G. Manimaran did many Malaysians a favor by writing his report on Unionists insist on ‘security net’ as EPF invests more in The Malaysian Insider this morning. It comes as no surprise that unionists are asking for guarantees on workers’ contributions to Malaysia’s largest pension fund as the Najib administration turns to the Employees Provident Fund (EPF) to invest more on the local and foreign fronts.
Many are deeply concerned that there are BIG fingers dipping directly into the EPF i.e. the rakyat’s pockets as the EPF is the result of our blood, sweat, toil and tears over the years and MUST BE SACROSANCT.
Does the EPF seem to be the last pot of gold for some to achieve their dreams or to leave a legacy? Input and output have to balance – otherwise we will be very poor in the long run.
Should our money be used for dubious projects in the name of nation-building? We want transparency in the investments.
Why is the EPF paying a lower dividend than the ASM when the funds from EPF are MUCH LARGER than ASM funds?
Amanah Saham Nasional Berhad, a wholly owned subsidiary of Permodalan Nasional Berhad (PNB) launched Amanah Saham Malaysia on 20th April 2000. Click here for more information.
According to The Malaysian Insider, “as at 31 December 2009, EPF’s investment portfolio grew 8.55 per cent or RM29.25 billion to RM371.26 billion compared to RM342.01 billion in 2008.”
Please refer to THIS SITE to see the Historical ASM Dividend Rate since 2001. You can see the dividends paid out for the last ten years are MUCH HIGHER than EPF dividends on a year by year basis.
According to the EPF official page HERE:
EPF dividends for 2009 was 5.65%. The dividend rate was declared on the back of the highest ever net income achieved of RM19.63 billion. According to THIS SITE, until March 19, 2010, ASM recorded a gross income of RM 800.83 million. Click here for more.
The dividend rate declared for year 2008 was 4.50%.
This site says that the EPF dividend rate for 2007 was 5.8%.
The dividend for 2006 was 5.15%. As at 31 December 2007, total accumulated investments increased by RM26.88 billion to RM312.80 billion compared to RM285.92 billion a year ago, and these were invested in asset classes detailed in Table 1. Click HERE for more.
In a nutshell:
