It is the end of the year and many employees are awaiting eagerly for their annual performance bonus at work. How are you planning to spend it? Here are some spending suggestions:
- For those with school going children, prepare your children for the new academic year with back-to-school shopping with the purchase of school uniforms, textbooks and stationery. Do not forget to put aside a sum of money for their tuition fees, exam fees, school bus as well as contribution to the Persatuan Ibu Bapa dan Guru (PIBG) of their respective schools.
- We look forward to festive seasons yearly but are worried about the price tag for the celebration. Why not start ahead and prepare some money for next year’s celebration?
- Refresh your body with a vacation. Start planning early for next year’s trip and put some money aside towards the holiday.
- Reduce your debts by paying off some of your borrowings. If possible, settle the outstanding amount.
- Invest some money in a legitimate scheme which is compatible with your risk appetite.
- Save money – build your emergency funds for rainy days.
- Come year-end, malls have sales and offer many discounts. When you do go shopping, remember to be moderate in your spending and look out for the best deals.
KUALA LUMPUR (Feb 16, 2014): The Employees Provident Fund (EPF) today announced a 6.35% dividend for 2013, higher than the 6.15% declared for 2012.
EPF chairman Tan Sri Samsudin Osman said in a statement that this would involve the highest sum in dividend payout to subscribers, totalling RM31.20 billion. It is 13.66% higher than the total dividend payout in 2012, which was RM27.45 billion, he added.
Samsudin said the dividend rate was declared on the back of a record gross investment income of RM35 billion, a 12.81% rise from the RM31.02 billion gross investment income recorded in 2012.
“The 2013 dividend payout was derived after deducting the net impairment allowance on financial assets, investment expenses, operating expenditures, statutory charges as well as dividend on withdrawals,” he said.
Samsudin said equities emerged as the largest contributor to the EPF’s gross investment income in 2013, generating RM19.52 billion of income, a significant increase of 40.39% compared with RM13.90 billion recorded in 2012.
“EPF’s equities portfolio generated double-digit realised returns, exceeding the performance of other similar funds,” he said.
Samsudin said the strong performance in its equities portfolio was helped by the local and global indices reaching new highs.
“This was attributable to investors’ confidence in the stability and fundamental economic strength of our domestic market with the conclusion of the 13th General Election,” he said.
Samsudin said that as the EPF membership rose to more than 13 million, a total of RM4.91 billion was required to pay every one per cent dividend rate for 2013.
“This was 10.06% higher compared with RM4.46 billion paid for every 1% dividend rate for 2012. The amount needed to pay a 1% dividend would continue to grow between 8% and 9% annually,” he said.
He also said: “Given the global economic slowdown and financial uncertainties, we remain steadfast and our achievements are testament to the EPF management’s continuous efforts and initiatives to maintain long-term financial stability.”
“Thanks to our robust yet prudent investment strategies, our performance has been consistently stable, especially in the past five years.
“Over the years, we have been diversifying our portfolio, thereby spreading out the scope of our assets to manage market risks and generate consistent returns.”
Samsudin said the EPF account statement for the crediting of the 2013 dividend is now available online via i-Akaun at the myEPF website (www.kwsp.gov.my). Alternatively, members could obtain their EPF account statement from the EPF kiosks or at any EPF branch from tomorrow.
The 2013 dividend could also be viewed on the EPF Facebook page at Kumpulan Wang Simpanan Pekerja, Twitter at KWSPBuzz and on YouTube. – Bernama
KUALA LUMPUR, Jan 30 — Lembaga Tabung Haji today announced an annual bonus of six per cent and an additional haj bonus of two per cent for its financial year ended Dec 31, 2013.
The six per cent annual bonus is competitive and is three percentage points above the rate for fixed deposit accounts at Islamic and conventional banks.
Minister in the Prime Minister’s Department Datuk Seri Jamil Khir Baharom said Tabung Haji had recorded an encouraging financial performance and the haj bonus payment showed its commitment in caring for the depositors’ welfare.
“Tabung Haji’s bonus rate is competitive considering that its investment profile is limited to investments based on Shariah while savings in Tabung Haji is voluntary and without limit,” he said at a press conference to announce Tabung Haji’s financial performance today.
For 2013, Tabung Haji achieved an income of RM3.7 billion, an increase of 34 per cent from RM2.8 billion a year earlier.
Net income after zakat amounted to RM2.6 billion in 2013 compared with RM2.1 billion in 2012.
Tabung Haji has 8.3 million depositors, out of whom 7.7 million have not performed the haj.
The majority of the depositors’ accounts (7.2 million) has an average minimum balance of less than the haj payment of RM9,980.
PETALING JAYA: The Cabinet has decided not to go ahead with the proposal to link the National Higher Education Fund (PTPTN) with Bank Negara’s credit reference database.
Youth and Sports Minister Khairy Jamaluddin on Wednesday in his tweet, thanked Prime Minister Datuk Seri Najib Tun Razak and the education ministers for the decision.
“Just finished with the Cabinet meeting. PTPTN will not go ahead with its proposal to list the defaulters under CCRIS”.
Last Monday, Education Minister II Datuk Seri Idris Jusoh had announced that PTPTN would be collaborating with Bank Negera to list PTPTN loan defaulters under the Central Credit Reference Information System (CCRIS).
He said the system would be put in place for those who are adamant about not repaying their loans.
The announcement has drawn flak from many quarters across the political divide, saying that the move would create more difficulties to the students.