EPF Ranks Among Largest Pension Funds In The World -- CEO
SHAH ALAM, March 1 (Bernama) -- The Employees Provident Fund (EPF) ranked the 13th largest pension fund in the world and the fifth largest in Asia as at September 2024, said chief executive officer Ahmad Zulqarnain Onn.
Its total fund size as at September last year was US$247 billion, he said.
“The EPF is one of the largest pension funds in the world. We will continue to grow and foresee growing over the next two decades at roughly the same rate -- eight to nine per cent compound annual growth rate (CAGR),” he said during the EPF’s 2024 dividend briefing here today.
Ahmad Zulqarnain said the EPF has also observed that there has been an improvement in the average and median saving rates of its members.
EPF’s investment assets stood at RM1.25 trillion as at Dec 31, 2024, of which 63 per cent was invested domestically.
It said domestic investments generated RM37.02 billion, or 49.7 per cent, of total investment income, which provided stability to the EPF’s total investment income.
The EPF today declared a dividend rate of 6.3 per cent for both Simpanan Konvensional and Simpanan Shariah, involving payouts of RM63.05 billion and RM10.19 billion respectively.
The total payout for 2024 amounts to RM73.24 billion.
-- BERNAMA