EPF's "loss" after four withdrawals of RM145bil
The Employees Provident Fund discloses that the pension fund has missed an opportunity to bolster its investment activities following the combined RM145 billion of withdrawals by its members during the Covid-19 pandemic.
The RM145 billion was withdrawn by 8.1 million EPF members over four special withdrawal schemes namely the i-Lestari, i-Sinar, i-Citra and a special withdrawal programme.
EPF chief strategy officer Nurhisham Hussein said while the disbursement helped its members eased their financial burden, it had a significant impact on the investment portfolio of the retirement fund manager.
Nurhisham, nevertheless, said the performance of EPF investments and dividend payments was more influenced by the uncertainty in the global and domestic markets.
"The impact from the RM145 billion withdrawal is still under control. That amount only represents 15 per cent of the total assets under the management of the EPF which currently reaches RM1 trillion, which is still considered a small amount. Read More…
