KUALA LUMPUR, Malaysia The Employees Provident Fund (EPF) expects its assets under management (AUM) to reach RM1 trillion within two to five years, said Deputy Chief Executive Officer (Strategy) Tunku Alizakri Alias.
As at March 31, 2018, EPF’s AUM stood at RM814.38 billion.
Tunku Alizakri said the optimism was based on market performance and contribution growth during the period, as well as the introduction of new schemes for its existing contributors.
He also noted that the retirement fund would also encourage those in the informal workforce to start contributing for their retirement.
“Within the last four years, more emphasis has been placed on social security…It is being talked about by the public. It is now a top priority for the government. A lot of resources (and) focus is now being put on that.
” For me, this is the right direction. You need to make sure that Malaysians are well taken care of, ” he told reporters on the sidelines of the International Social Security Conference 2018 held here yesterday.
He pointed out that the EPF would be more proactive in its operations with the introduction of digitalisation, which is part of a five-year rolling plan.
“It is going to be exciting for our members as the majority of them are going to be the young people who are digitally connected. We are going to start looking at the individual needs of our members in that sense,” said Tunku Alizakri.
Themed “A Better Tomorrow Here Today”, the two-day conference organised by the EPF ended yesterday.
Source: NAM News Network