KUALA LUMPUR (Feb 27): Members saving their retirement fund with the Employees Provident Fund (EPF) should have a say if there is a change in the existing way dividends are being paid annually to a tiered structure, its outgoing CEO Tunku Alizakri Alias said.

“Tiered dividend is a very complex structure, it has both its pros as well as its disadvantages. We [the EPF] have always operated from an ‘everybody gets the same dividend’ base philosophy. Tiered dividend would actually suggest that there will be ways for us to go and deliver our dividends to our members in very different ways in the future, so again, this is a very complex issue and this is something that the EPF will have to go and touch base with our members at the end of the day because our members need to have a say in how the dividends that they will be receiving in the future should be structured,” Alizakri told reporters at a virtual media conference this afternoon after announcing the EPF’s 2020 dividend of 5.2% (conventional) and 4.9% (shariah).