Worrying trend: The EPF building in Kuala Lumpur. The fund says many Malaysians do not have enough wealth for their retirement years.
KUALA LUMPUR: The Employees Provident Fund ended 2016 with RM46.56bil in total gross investment income, up from RM44.23bil, it recorded the previous year amid a low global growth and lackluster corporate earnings.
Chief executive officer Datuk Shahril Ridza Ridzuan said the slump in crude oil prices, a weak domestic currency, lackluster corporate earnings and large-scale withdrawal of capital from emerging market economies to developed economies and safe-safe haven currencies also impacted the fund.
EPF announced a dividend of 5.7% for 2016 versus 6.4% in 2015.
The fund, which released its annual report 2016 today, recorded a 2.68% rise in annual contributions to RM61.59bil against total annual amount withdrawn of RM46.80bil. This resulted in a net inflow of RM14.79bil.
The annual report, themed “Achieving a Better Future”, was tabled in Parliament on April 5, 2017 and revealed a 6.81% increase in total investment assets to RM731.11bil from RM684.53bil in 2015. - Bernama
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