MTUC to hold pickets over low EPF dividend

  • Nation
  • Tuesday, 22 Apr 2003


SUBANG JAYA: MTUC will hold pickets in front of all Employees’ Provident Fund offices to protest against the lower dividend payout for the year 2002.  

“This (continuing drop in dividends) is an issue that has been longstanding, and it is the right time for us to show our displeasure,” said MTUC President Zainal Rampak.  

The decision was made at Wisma MTUC during a delegates conference yesterday. 

The pickets will be preceded by a forum and other gatherings on May 1 and May 12 at the TW Building in Petaling Jaya, to explain the MTUC’s stand on the EPF issue to its members. 

Zainal also said that MTUC did not want to hear of any more schemes being introduced by the EPF.  

“We call on them (EPF) to stick to the concept of operating as the ‘Employees Provident Fund’ and just concentrate on being accountable for safeguarding the interests of the nine million contributing employees,” he said.  

“We are very unhappy. We do not, however, want people to misconstrue our decision (to picket). We will be holding picketing campaigns in a peaceful manner,” added Zainal.  

MUTC delegates had pointed out that the dividend of 4.25% for 2002, from 5% the previous year, was the lowest in 40 years.  

“We are concerned about the 70% of employees who are from the lower income group,” Zainal said, adding that the congress feared that if not checked, the dividend could drop to the 2.5% level of 1952. 

MUTC also proposed, in a recent meeting on March 30, with second finance minister Datuk Dr Jamaludin Jarjis, for the government to raise contributions from the current 11% for employees and 12% for employers, to 13% and 17.5% respectively.  

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