Ever wonder where do Employees Provident Fund (EPF) invest our money?
Now, it is possible to gather this information because EPF make a decision to publish its Top 30 Equity Investments in companies listed on the Bursa Malaysia on a quarterly basis.
The aim for this excercise is to promote greater transparency and to reassure members that investment decisions undertaken are in the best interest of growing their retirement savings and in accordance with best practices in investment and governance.
The table below shows the Top 30 Equity Investments in companies listed on the Bursa Malaysia as of 31st March 2010.
Federation of Investment Managers Malaysia (FIMM) unveil a new system called Elektronik-Pilihan Pelaburan Ahli (E-PPA). With the new system EPF members’ could now submit their applications online for withdrawing part of their EPF saving to invest in unit trust funds.
The E-PPA system was jointly developed by FIMM and the EPF and it aim to reduce the application processing time to two days from between 15 to 20 days under the manual system.
Previously we looked at world’s largest sovereign fund & world’s largest pension funds where Malaysian funds position quite well in the ranking. The different between sovereign and non-sovereign funds are the fund ownership. Sovereign fund is state or government owned. So, this raking is quite similar to world’s largest pension funds but without private funds such as General Motors pension funds.
As of early 2009, EPF is at number 6 among the world’s largest pension funds with $98.8 billion in assets up from number 8 with $94.4 billion in assets previous year.
The table below shows top 22 world’s largest sovereign pension funds.
I believe most of you know that we are eligible to withdraw EPF or KWSP money from account II for the purpose on buying new house or reducing loan amount or monthly loan repayment. I believe this is great facility offered by EPF.
However, I am shock when I come across an article where someone claim that EPF scam us if we withdraw money from Account II for monthly housing loan repayment.
The Employees Provident Fund (EPF) has declared a dividend rate of 5.65 per cent for the financial year ended Dec 31, 2009. The dividend paid in 2009 is 1.15 percent higher than the amount paid in 2008. In 2008 the dividend rate was 4.5 percent. News on higher dividend for year 2009 was in mainstream media last October. You can have a look at previous year dividend here.
In 2009, EPF make agreat achievement by securing highest ever net income at RM19.63 billion. This is 34.82 percent or RM14.56 billion higher than the amount recorded in 2008.