Monday, February 25, 2013

Contributors laud higher EPF payout

GOOD NEWS: It means higher savings in our old age, say people
KUALA LUMPUR: CONTRIBUTORS  to the Employees Provident Fund (EPF) are confident that this year's increased dividend of 6.15 per cent, the highest in 12 years, is just a preview of the compulsory savings scheme's stronger performance in the future.

Naviin Muthusamy, 28, one of the 13 million EPF contributors, said it was good news for middle income wage earners like him as it would mean higher savings in his old age.
"As the cost of living increases, it is good news to know that my savings in EPF will grow.
"I am hopeful that the increment remains steady in the coming years.
"If it is so, I will have enough to see me through my retirement."
For administration and human resources manager Neo Sing Hing, 35, the higher dividend he earned from EPF was great news.
Neo, who is from Batu Pahat, Johor, said the EPF dividend should not be compared to that of other savings schemes.
"This is the highest it has been in 12 years.
"It is something to shout about and to be enjoyed by every contributor.
"We should not compare it with other schemes because in order to get higher dividends, you have to invest more. "

Nor Safna Simun, 30, said the government had been doing a great job in managing the country and this should see EPF dividends rising every year.
"I hope in coming years, the dividends will increase so that my savings in EPF will grow," said the accountant from Gombak.
Muhammad Fadhli Ramli, 22, asked government detractors to stop accusing it of trying to fish for votes with the higher dividends.
"Some said this increment is one of the government's strategies to gain votes for the coming general election.
"If they look beyond politics, they will be able to see that dividends have been increasing since 2008.
"The government should be appreciated for making higher dividends possible and should not be accused of vote-buying."
Contributors from yesterday benefited from the 6.15 per cent dividend rate.
It totalled RM27.45 billion for the financial year ending last year.
The dividend was generated from a RM31.02 billion gross investment income (GII) last year.
The GII recorded last year was also the highest in EPF's history.
It beat the figures in 2011, which was RM27.23 billion, by 13.91 per cent.

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