【最新消息】EPF 2008年度派息4.5%

论坛废才

还好啦，4.5%好过没有，呵呵

sin1985

真的是少了点。
如果人们投资股票如投资于公积金那么积极、持之以恒，不贪心，一年回酬8%，相信退休后百万身家应该不是梦。

cheekhoon

4.5% 比去年少，但是高过 2.5% 的 FD

無所不在

不知道有没有这个命呢
相信退休后百万身家应该不是梦。

aburrida

The Employees Provident Fund has declared 4.5 per cent dividend for 2008, its lowest since 2003. It provided a list of questions and answers that accompanied its statement on the dividend yesterday.


QUESTION: Why is the EPF’s dividend for 2008 lower than that for 2007?

Answer: The EPF Board declared a dividend of 4.50 per cent for 2008. This dividend rate is lower compared to that of 2007 due to the increase in investment provisioning resulting from the sharp decline in global equity prices brought about by the worldwide financial crisis.

Although the EPF earned its highest ever gross income in 2008, the EPF has made provisions of RM4.69 billion for diminution in equity value after a sharp fall in equity prices as a consequence of the global financial crisis. This has significantly reduced our net earnings but this provision remains unrealised, as we have not sold off our shares. This provision will be written back once the equity markets recover.

Nonetheless, our dividend rate compares favourably with fixed-deposit rates offered by Malaysian banks. For instance, the current 12-month fixed-deposit rate for Malaysian banks is 2.50 per cent.

Additionally, an increased amount is needed to pay 1 per cent dividend to members for 2008. For 2008, the EPF required RM3.18 billion to pay 1per cent dividend compared with only RM2.89 billion in 2007.


Q: Why was the provision made for 2008 much larger than 2007?

A: The provision written into our books for 2008 is RM4.69 billion, of which RM3.2 billion was allocated for overseas equities. This figure is much higher than the provision for equity diminution in value in 2007, which was only RM0.52 billion. This provision is made due to the sharp drop in equity markets especially in the fourth quarter of last year. However, we are confident that this provision will be written back once recovery takes place.

Despite this provision, equities remained as the second biggest contributor to the EPF’s total gross income bringing in RM6.67 billion in 2008 compared with RM5.37 billion in 2007.

It should be highlighted that the EPF compares better than many other funds around the world. For example:

# The government pension fund of Norway suffered a US$92 billion loss on its investments in 2008. (BBC News, March 11 2009);

# Temasek Holdings suffered S$58 billion paper loss in eight months. (Singapore BT, February 11 2009);

# Government of Singapore Investment Corporation Private Ltd asset value fell 25 per cent from its peak. (Bloomberg, March 5 2009);

# California Public Employees’ Retirement System (CalPERS) suffered a US$68 billion loss in assets since October 2007 and a 41 per cent slide in its stock portfolio. (Bloomberg, February 26 2009); and

# Khazanah Nasional Bhd suffered a loss of one fifth of its investment portfolio and its realisable asset value of RM88.2 billion as of May 31 was reduced to RM70.4 billion at the end of 2008. (BT, January 20 2009)

Q: What is the EPF’s forecast for 2009?

A: We are bracing ourselves for a tough year ahead as the effects of the financial crisis continue to be felt. We expect 2009 to be a very challenging year, and the expected dividend will therefore not be more than 2008.

Q: How did the EPF manage to offer a dividend of 8 per cent in the 80s?

A: In the 80s, EPF’s investments were concentrated on interest-based investments, such as Malaysian Government Securities (MGS). It should be noted that the interest rate regime during those years were high, with the average base lending rates (BLR) hitting a peak of 12.25 per cent in 1984, compared to the significantly lower current BLR.

Consequently, investments in MGS during that era were able to produce very high returns for the EPF, making it possible for the fund to declare its highest dividend rates. However, the high interest rate regime also meant that cost of housing loans and hire purchase were considerably higher at that time than they are now.

Q: How safe is my money in the EPF?

A: Your money is very safe in the EPF. As a retirement fund, we will continue to maintain a prudent and low-risk investment policy backed by thorough research and in accordance with investment best practices.

Furthermore, the EPF Act 1991 guarantees that the dividend rate will not fall below 2.5 per cent.

Q: Why are other savings funds in Malaysia able to offer better dividends than the EPF?

A: The simplest explanation is that other funds have different investment objectives. The EPF maintains an asset allocation structure that does not expose the investments to high risk in line with its role as a retirement fund.
Other funds are also much smaller in size compared with the EPF which stands at RM340 billion.

一只字形容“强”

时光隧道

經濟疲弱‧投資嚴峻‧公積金派息恐續下滑
大馬財經 財經焦點  2009-03-17 19:22





（吉隆坡）僱員公積金局宣佈派息4.5%，與市場預期相符，但金融海嘯未見平息，經濟學家相信今年挑戰將更嚴峻，派息率恐進一步滑落，今年的派息可能低於4.5%。

不過，作為人民的退休基金管理，公積金局需繼續貫徹“穩中求勝”投資策略，繼續在風險與回酬平衡點間遊走，不宜過份提高投資風險。

公積金局宣佈，財政部批准2008年的派息率4.5%，與2002年有史以來最低的4.25%相差不遠，與2003年一樣，卻比2007年的5.8%減1.3%，主要是全球金融危機導致股市大跌，促使投資撥備增至46億9000萬令吉，令派息率相對走低，並預測2009年派息率料低於2008年的利率。

68.3%資金投入政府債券

目前，公積金局將旗下68.3%資金投放於政府債券等固定收入資產，但鑒於債券回酬走跌（其中大馬政府債券回酬從年初的3.581至4.508%下滑至2.888至3.733%）抵銷高投資評級企業債券（AA私人債券（PDS）回酬從4.788上漲至5.172%）賺益，促使此環節總投資收入僅成長8.6%至117億令吉，前期為108億令吉。

投資股市比重則為25.7%，儘管馬股和摩根士丹利資本國際（MSCI）去年重挫39%和43.5%，但股票投資仍是當局主要回酬來源，佔總投資收入的34.8%，按年成長24.2%至66億7000萬令吉（前期為53億7000萬令吉），顯著超越本地和海外證券市場表現。

馬銀行研究表示，在當前嚴峻的市況下，公積金局受債券回酬下滑以及疲憊股市拖累，全年派息下滑並不叫人意外，4.5%派息率與市場預期的4.5至5%相符。

比上不足比下有餘

分析員指出，儘管與其他投資機構比較，公積金局的表現較大馬武裝部隊基金（LTAT）的16%（7%股息+9%紅利）、國民投資公司的8.75%（7%股息+1.75%紅利）和朝聖基金的5%來得遜色，但在當前局勢下公積金局表現仍值得嘉許，主要是其退休基金僅允許採用較保守的投資哲學/授權和資產分配。

“此外，不少政府基金可通過儲備以改善其派息率，但公積金局僅可透過投資收入進行派息。”

鑫資金投有資限公司董事經理張國林指出，去年全球股市，包括馬股的投資回酬均出現萎縮，因此公積金局4.5%派息率，仍比一般的基金來得好。

“雖然公積金回酬率較其他政府基金為低，但各基金性質並不相同，直接對比並不公平，主要是公積金管理退休基金，為保障會員的退休生活，多半投資在風險較低的投資產品。”

大馬評估機構（RAM）首席經濟學家姚金龍博士說，公積金主要目標就是為會員提供資金保值，基準回酬以高於定期存款為目標，相比去年5.4%的通膨率，4.5%回酬並未為人民擺脫“定存負利”壓力，但在國內生產總值成長4.6%較市場預期為差，以及動震不安的投資環境下，相關回酬率仍處於合理水平。

“目前，多數機構基金、主權基金不是蒙虧，就是資產縮水30至40%，就連新加坡淡馬錫控股也蒙受360億美元巨虧，因此公積金表現仍叫人滿意。”

今年挑戰更大

張國林表示，全球經濟環境持續惡化，股市和債市仍未見曙光，料公積金局今年將面對更大的挑戰。

“最大的挑戰莫過於固定收入資產回酬減少，公積金局投資收入以固定收入資產為主，但低利率時代將侵蝕相關資產回酬，拖累整體收入表現，並對派息率帶來衝擊。”

姚金龍認為，在疲弱經濟成長以及嚴峻的投資環境夾攻下，今年公積金回酬將難以避免比去年遜色。

“不過，投資環境艱鉅對公積金影響已開始浮現，我們不應該設定太高的回酬目標，否則可能提昇公積金投資風險。”

維持保守投資策略

張國林表示，儘管回酬率不如人，但公積金應秉持其退休基金特點，維持其現有保守投資策略，不認為有提高風險必要。

姚金龍指出，相信公積金仍有改善空間，應在風險與回酬間尋找平衡點，避免風險過高侵蝕回酬，才能繼續為會員帶來高於通膨率的回酬。

“不過，除了審慎管理資金外，公積金也應該充份準備以迎接‘復甦時代’的到來，主要是股市通常較經濟提前6至9個月復甦，因此當前是當局放眼如何利用估值慘遭低估的資產進行佈局，以從經濟復甦時獲得更高的回酬。”

他補充，公積金局現應該開始搜尋和鑑定有能力、潛力良好的公司或股項進行投資，相信高風險的證券市場將有利於抵銷因減息而持續萎縮的利息收入影響。

星洲日報／財經‧2009.03.17

论坛废才

不过说真的，比新加坡好很多了

弹煮

当经济好景那时候，马奶下还是新杂波派息比较高？

th_khoo

原帖由 论坛废才 于 17-3-2009 09:48 AM 发表
你觉得丢进那个股海好呢？呵呵

心脏好的话，就进美股。。。
要稳的话，就选boleh land or sing....

论坛废才

请问要怎样看美股的价钱？谢谢

th_khoo

我是看http://finance.yahoo.com/

论坛废才

谢谢哦。刚才看了。心痛，因为没有买citibank

密码侦探

原本5.5% 1%拿去送老虎的股东

th_khoo

不用怕。。。
跌势要来了。。。

th_khoo

1%给老虎？
莫非你是EPF的人。。。

密码侦探

是的.


讲笑拉

弹煮

原帖由 密码侦探 于 18-3-2009 08:56 PM 发表
是的.

做么你的分数扣了一大半？

密码侦探

我去政治那边.
3个贴.300分.TMD:@ :@

这是由论坛系统自动发送的通知短消息。

以下您所发表的帖子被 等等 评分。引用:
OBAMA!!!!!!!!!发表时间: 7-3-2009 09:59 PM
所在论坛: 国内政局讨论区
所在主题: 副首相由你选。那位最理想 ？

评分分数: 积分 -100
操作理由: 恶意灌水

这是由论坛系统自动发送的通知短消息。

以下您所发表的帖子被 神凤 评分。引用:
NAJIS现在头痛着,阴魂不散的缠着他 发表时间: 9-3-2009 11:45 AM
所在论坛: 国内政局讨论区
所在主题: 纳吉地位，全不受外国蒙古女郎报道影响。

评分分数: 积分 -100
操作理由: 篡改名字，银牌会员扣100积分

以下您所发表的帖子被 神凤 评分。引用:
请问:鸡耳清高吗?拍人家裸照 发表时间: 8-3-2009 10:07 PM
所在论坛: 国内政局讨论区
所在主题: 民联没那么清高，都是充拆着贪婪者

评分分数: 积分 -100
操作理由: 违规内容: 篡改名字：鸡耳。
银牌会员，扣100分。

人民幣

你是個天才

988fulot10

原帖由 th_khoo 于 18-3-2009 08:51 PM 发表
1%给老虎？
莫非你是EPF的人。。。

       大家不要忘记
EPF也是大象银行的大股东,,,,