The DAP today launched a public campaign demanding an explanation from the Employees Provident Fund (EPF) over the accumulation of the RM15 billion 'paper losses' which had led to a record-low dividend payment for last year.

DAP secretary-general Kerk Kim Hock said the campaign's objectives are to protest the 40-year low dividend of 4.25% for last year, to demand for greater accountability, transparency, quality and security of funds and to reform the investment policy.

"There have also been excuses that Sars (severe acute respiratory syndrome) and the Iraq war had caused the lowest dividend," he told reporters at a day market in Petaling Jaya.

"These are unacceptable excuses as Sars and the war only occurred this year while the dividend was for last year."