Tabung Haji’s April Fool’s joke

The annual inflation rate is “officially” 2-3% locally and globally (although most of us can tell you it is more than just 2-3%). Of course, in some countries the inflation rate can be in the double digits. Therefore any returns on deposits less than 4% is pointless. A reasonable return would be in the region of 5-6% and 8-9% would be more desirable. If not, better just keep your money under the mattress.

Lembaga Tabung Haji’s dividend pay out of less than 2% is a joke. Even 3% would be laughable. Is Tabung Haji serious about giving depositors a reasonable return on their money? I suppose now the Pakatan Harapan government is going to blame the previous government for this. And I suppose we shall be hearing this same excuse right up to the next general election.

During the nine years that Najib Tun Razak was Prime Minister, Tabung Haji paid between 5-8.25% dividends. How was this possible? And why are we now looking at slightly over 1%? Pakatan Harapan cannot brush this off by blaming the previous government any longer.

Is it too late for me to wish you happy April’s Fool’s Day?