EPF assures 14m members all proposals scrutinised

The Employees Provident Fund is the main source of savings for nearly all Malaysians in the private sector.

KUALA LUMPUR: The Employees Provident Fund Board has assured its 14 million members that all investment proposals are thoroughly scrutinised and invested only in assets that fit its risk-return profile before it it put forwards to the investment panel.

According to statement issued by the retirement fund on Friday, it said that a a statutory body, the EPF is governed by its board, whose members include representatives from employees, employers, industry professionals and the government.

On Tuesday, Bernama reported the EPF and Khazanah Nasional Bhd plan to expand their investments in the United States during Prime Minister Datuk Seri Najib Tun Razak's visit to the country. The EPF alone is expected to invest between US$3bil and US$4bil.

Below is the statement issued by the EPF:

When deliberating any investment decisons, the EPF follows a process that requires it to first go through the management committee.

This where proposals are scrutinsed in accordance with our longt term diversification strategy.

This is also in line with the EPF's mandate to grow its members' retirement savings by investing only in assets that fit its risk-return profile.

Final approval is then obtained from the investment panel, comprising senior members of EPF Management, industry professionals and the government.

As a statutory body, the EPF is governed by its board, whose members include representatives from employees, employers, industry professionals and the government.

The board ensures that the EPF carries out its responsibility to safeguard the interest of its 14 million members.

Click on link to the EPF's statement: http://www.kwsp.gov.my/portal/documents/10180/4230235/EPF_Investment_Decision_Framework_15.09.2017.pdf