EPF Q2 investment income up 23.4pc

The Employees Provident Fund (EPF) recorded an investment income of RM5.93 billion for the second quarter of this year, up 23.47 per cent from RM4.80 billion in the same quarter of 2009.
Chief executive officer Tan Sri Azlan Zainol said the positive performance was mainly due to the country's robust economic growth in the first half of the year. "The increase in performance was primarily encouraged by improvements in both domestic and global equity markets and supported by the higher interest rates compared to the previous corresponding period," he said in a statement here today.

He said the growth was led significantly by equities that contributed RM2.72 billion. Loans and bonds was the second largest contributor with an income of RM1.90 billion, an increase by 4.72 per cent over the RM1.81 billion earned in the same quarter of 2009.

However, there was 1.02 per cent decline in income from investments in the Malaysian Government Securities which contributed RM1.10 billion, compared with RM1.11 billion previously. Investment income derived from Money Market Instruments, meanwhile, posted the most significant increase at 94.23 per cent to contribute RM183.10 million against RM94.27 million in second quarter of last year. The increase was attributed to higher asset holding and interest rates.

EPF also saw higher income from properties where it rose by 9.37 per cent compard with the previous corresponding quarter, contributing RM22.76 million. Going forward, Azlan said although EPF had performed well in the first half of this year, the pension fund remained cautious over the outlook in the second half.

"Nonetheless, we will continuously seek to optimise returns and add value to members' retirement," he added.

Source: Bernama

How to Use Technology to Switch Careers

There’s no reason why work has to feel like, well, work. While it’s a tough market out there, the good news is there’s no better time than now to reinvent yourself and your career.

You’re probably well-aware of the ways job seekers are using technology to find and apply for new positions. But you might not know that the same tools can be leveraged not only to find a new job, but also to plan for a new career.
    
The prospect of switching careers can be downright scary for many job seekers; like all major changes, it requires a little planning and a lot of courage. Of course, incurring this short-term risk creates some long-term rewards, namely a long-term, rewarding career doing something you’re passionate about.  

Here are five simple steps for using technology to research potential paths and find out which career is the right one for you.

1. Get the Official Story: After identifying your strengths and natural talents, you’ll want to apply these as a filter to start researching which careers are the best fits for you.  

Monster’s new Career Snapshots tool provides official details, such as qualifications, skills and duties, for more than 2,500 careers, ranging from accountants to fashion models and everything in between. Career Snapshots also provide industry forecasts collected from thousands of job postings, offering valuable data on current and anticipated job market trends.

2.  Get the Unofficial Story: Online professional networks are a great way to learn more about a specific industry or function. Once you determine what you want to do for a living, you’ll need to prove a commitment and dedication to your chosen field, or else your dream job will remain just that.  

While most job seekers use social networks as professional marketing vehicles to connect with people in a targeted field, they also provide a great way to pick up industry knowledge, terminology and trends.  

Monster Communities feature a variety of unique professional networks aligning with various job functions and industries, such as marketing, human resources and healthcare to help connect better. Participating in online communities provides opportunities to learn more about industry and professional trends, engage with influencers and employers, and expand your network simultaneously. 

3. See How You Compare: Monster recently introduced Career Benchmarking, a cutting-edge resource that shows job seekers how they compare with their peers. Featuring a wide variety of topics, ranging from compensation to commute times, Career Benchmarking compares your information against local and national averages for thousands of unique job titles. The data provided is priceless; fortunately, Monster offers this powerful tool for free to all job seekers.

4. Read Job Listings: Using a job board like Monster to access and read job descriptions also provides valuable insight into building a long-term strategy for your new career. Browsing for postings in a targeted function or industry helps give a good sense of the experience, training and skills you’ll be expected to have as well as the recurring responsibilities involved in day-to-day work.

5. Make a Choice: Be sure you have strong, valid reasons to change careers; doing so might mean drastic changes in self-perception, working environment, income, work-life balance, healthcare benefits and a myriad of other considerations.  

You have to be able to state your case effectively, clearly and passionately as to why you’re picking a new career and what you hope to gain from the change. Incorporating this message into your social profiles and personal brand is critical, and an easy way to advertise your decision (and availability) to your network, both online and off.

If you’re having trouble creating a compelling case about why you’re making the move, you might be better off exploring another path or focusing on advancing your current career. While technology can help with exploring new careers, it can’t decide which path is right for you. That’s your job.

Source: Matt Charney, Monster Social Media Engagement

EPF Dividend For 2009 Expected To Be Higher

PUTRAJAYA, Feb 7 (Bernama) -- The Employees Provident Fund (EPF) dividend for 2009 is expected to be higher compared to the 4.5 per cent paid out in the previous year.


EPF chairman Tan Sri Samsudin Osman said this was due to the local share market's stable position and good investment returns.

"A meeting on dividend rates will be held this month, while an announcement on it will be made in March," he told reporters, here Sunday.

Samsudin, who is also Putrajaya Corporation president, had earlier presented prizes to winners of a fishing competition held in conjunction with Federal Territory Day celebrations.

In December, EPF announced that it obtained RM5.5 billion in profits in the third quarter last year, which was an increase of RM696.32 million (14.51 per cent) compared to RM4.8 billion in the previous quarter.

EPF chief executive officer Tan Sri Azlan Zainol said EPF funds had now increased to RM361.09 billion compared with RM353.93 billion in the second quarter last year.

For the year 2008, 12 million EPF members received a dividend of 4.5 per cent, which was lower than the 5.8 per cent for 2007.



Source: BERNAMA