Finance minister II Amir Hamzah Azizan said based on this strong performance, EPF contributors can expect better dividend distribution for 2024 compared with 2023.

“If we look at its performance up to the third quarter of last year, it (the performance) is encouraging. By the third quarter, the EPF has already earned RM57.5 billion (investment income), which is an improvement on the previous year.

“This performance will continue into the fourth quarter. The dividend will be encouraging. I cannot comment what it will be, (but) it will be better,” he told the media after an event organised by the finance ministry here today.

EPF declared a higher dividend of 5.50% for 2023 compared with 5.35% in 2022 for conventional savings, with total distribution of RM50.33 billion.

It was 5.40% compared with 4.75% in 2022 for shariah savings, with a total distribution of RM7.48 billion.

EPF is expected to announce the 2024 dividend rate in early March. Several economists and academics had previously predicted EPF’s 2024 dividend to exceed 6%.