In February, KWSP did not disclose the amount of its payout.
The Employees Provident Fund (KWSP), like in past years, will disclose the specifics of dividends on the second to fourth Saturday of February each year, but this year, KWSP broke with tradition and did not announce payouts in February.
According to KWSP’s response to netizens’ responses on the Facebook post, the payout information would be announced in early March. According to Sin Chew Daily, KWSP will issue its dividend on March 2nd (Wednesday).
The terms of the payout have yet to be revealed by KWSP. This year, KWSP may adopt a unique way to calculate the dividend. In past years, payouts were computed solely on the basis of the members’ deposit amounts. Many members, however, have ran out of savings after repeated withdrawal plans this year. It is possible that KWSP will use a unique approach to calculate dividends.
Given the pressure from many members and lawmakers to allow the latest i-Citra withdrawal, KWSP may implement a bonus dividend system to repay these shareholders.
Another reason for KWSP’s delay in announcing its dividend is that state elections in Johor will be held on March 12. By offering a generous payout, the administration is sure to gain votes.
The dividend for KWSP is estimated to be between 5.20 percent and 6.00 percent.
