It's bad news for Employees Provident Fund (EPF) contributors - the dividend is expected to be as low as 4.5% for 2008.
And this is what unionists are telling their members to expect, claiming that their source is reliable.. They say it is too low despite the fund doing well for the first nine months of 2008 as announced in its third quarter results last year.
National Union of Bank Employees (Nube) secretary general J Solomon said employees were looking forward to better dividends because the fund claimed that it had prudently invested in long-term securities.
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Meanwhile, stock market analysts forecast that the dividend for 2008 will be lower and range between 4.5% and 5%. The dividends which will benefit about 10 million EPF contributors has still not been announced. Last year, Second Finance Minister Nor Mohamed Yakcop, announced dividend rate of 5.8 % on Jan 22.
Pensioners have complained of the delay by writing to the media. They urged the government to announce the dividends soon as they depend on it for an income. Following the announcement of the dividends last year, EPF chairperson Samsudin Osman said, “The buoyant stock market in 2007 was consequential to the higher dividend declared for the year, as was the efficient and effective management of the EPF funds.” The rate declared for 2007 marks the fifth consecutive year that the EPF has increased its dividend rate. In 2006, the dividend was 5.15%.
(Source: Malaysiakini)
National Union of Bank Employees (Nube) secretary general J Solomon said employees were looking forward to better dividends because the fund claimed that it had prudently invested in long-term securities....
Meanwhile, stock market analysts forecast that the dividend for 2008 will be lower and range between 4.5% and 5%. The dividends which will benefit about 10 million EPF contributors has still not been announced. Last year, Second Finance Minister Nor Mohamed Yakcop, announced dividend rate of 5.8 % on Jan 22.
Pensioners have complained of the delay by writing to the media. They urged the government to announce the dividends soon as they depend on it for an income. Following the announcement of the dividends last year, EPF chairperson Samsudin Osman said, “The buoyant stock market in 2007 was consequential to the higher dividend declared for the year, as was the efficient and effective management of the EPF funds.” The rate declared for 2007 marks the fifth consecutive year that the EPF has increased its dividend rate. In 2006, the dividend was 5.15%.
(Source: Malaysiakini)
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