Do you know that Employee EPF contribution rate was changed 10 times since EPF was established in 1952? During the same period, Employer EPF contribution rate changed 3 times. The rate was calculated base on gross salary of the employee.
The changed was done due to various reason. For example in 2009, employee contribution rate reduced to 9 from 11 percent. The aim was to stimulate Malaysian economy due to recession by encouraging public to spend more. However, public can opt not to change it.
The table below is the historical Employees & Employers EPF Contribution Rate since 1952.
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For year 2010, Employees Provident Fund declared 5.80 percent dividend. For the same period, more than 6 million individuals were active EPF members with total combined savings of RM298.8 billion excluding 2010 dividend. Total savings including inactive members was at RM440.5 billion.
For those who interested to know the savings profile for active EPF members as of 2010, kindly take a look at the following table. It shows the savings range, number on members and total savings for each range.
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On the 4th July 2011, Prime Minister Datuk Seri Najib Tun Razak launched Program Perumahan 1Malaysia or 1Malaysia Housing Programme (PR1MA). The programme aim to assist the middle income group who can neither afford to buy high-end property nor are eligible for existing My First Home Scheme and others low-cost public housing scheme to own a home.
Middle income group are those with household income in between RM2,500 to RM7,500 per month regardless whether they work with the government, the private sector or self-employed.
The programme will be plan and coordinate projects by 1Malaysia Housing Programme Corporation, and placed under the Prime Minister’s Department. The corporation would also distribute houses under the projects to eligible recipients.
Below are the details of 1Malaysia Housing Programme (PR1MA).
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Every 3 months since March 2010, EPF reveal its top 30 equity investments in Bursa Malaysia. The aim for this is to promote greater transparency and to reassure members that investment undertaken are in the best interest of growing their retirement savings and in accordance to best practices in investment and governance.
The table below are the Top 30 Equity Investments in companies listed on Bursa Malaysia as of 31th March 2011.
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Economists predict that Employees Provident Fund (EPF) dividend payment to ease to around 4 to 5 percent for 2011 from 5.8 percent in 2010. Among the economists that expect this are from Malaysia Rating Corp Bhd (MARC), RAM Holdings Group and Allianz Life Insurance Malaysia Bhd.
For the past 10 years, EPF’s dividend ranged from 4.25 to 5.8 percent with an average of 5 percent. For previous year dividend, kindly refer to “Historical EPF Dividend Rate” page.
The reasons for lower dividend payments are,
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