The Employees Provident Fund (EPF) dividend for 2009 is expected to be higher compared to the 4.5% paid out in the previous year. EPF chairman Tan Sri Samsudin Osman said this was due to the local share market’s stable position and good investment returns. “A meeting on dividend rates will be held this month, while an announcement will be made in March,” he told reporters here yesterday.

Samsudin, who is also Putrajaya Corporation president, had earlier presented prizes to winners of a fishing competition held in conjunction with Federal Territory Day celebrations. In December, EPF announced that it obtained RM5.5bil in profits in the third quarter of last year, an increase of RM696.32mil compared to RM4.8bil in the previous quarter. EPF chief executive officer Tan Sri Azlan Zainol said EPF funds had now increased to RM361.09bil compared with RM353.93bil in the second quarter of last year. For the year 2008, 12 million EPF members received a dividend of 4.5%, which was lower than the 5.8% for 2007

I hope the EPF dividend will be about 6% or more this year and I have also upped my contribution to 50% by signing a form. Previously, the EPF personnel will come to my house to collect the monthly contribution but since late last year, I have sent in the cheques by post. Just like last year, the dividend for 2009 will only be updated in March.

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