‘World class’ EPF praised for keeping coffers healthy

  • Nation
  • Thursday, 12 Jun 2014

THE coffers of the Employees Provident Fund (EPF) continue to be healthy with gross income from its investments increasing by 58% this year.

Praising the EPF management as “world class”, Public Accounts Committee (PAC) chairman Datuk Nur Jazlan Mohamed said the fund recorded a gross income of RM8.8bil in the first quarter this year, compared to RM5.6bil in the same period last year.

“This means there has been a 58% rise in total domestic and foreign investments made by EPF,” he told reporters at Parliament House yesterday.

The PAC was earlier briefed by EPF and Treasury officers on how the fund manages its investments.

Nur Jazlan said the investments were in the form of equity bonds, property and foreign exchange.

“The results from the investments by EPF this year have been remarkable. This shows that EPF management is solid and this should allay fears among the public that it will go bankrupt,” he said.

On EPF foreign investments in property, Nur Jazlan said the organisation had assets worth RM6.4bil overseas.

These were in Britain (RM4bil), Australia (RM1.5bil), Singapore (RM550mil) and Europe (RM300mil).

Nur Jazlan said all investments made by the EPF are approved first by the Finance Ministry as it cannot act independently.

He said the public, especially retirees, could rest assured that their investment in the EPF is safe.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Nation

Peter Anthony uses Sabah budget debate to apologise for 'words, actions' during GE15
Sarawak gets 60 requests for temporary papers from stateless persons under 21
Perikatan man's remarks on unity govt an insult to royal institution, says Fahmi
Despatch rider gets three years jail for snatch theft
It's not chicken feed: Poultry industry hit with RM500K in compounds since Feb 5
Ismail Sabri's suit against Lokman Adam may be settled without trial, says lawyer
More congratulatory messages for Anwar, including from Arab diplomats in KL
Perak to table anti-party hopping law, state budget when assembly convenes on Dec 19, says MB
Zahid should be in Cabinet, govt experience a 'plus', says Tian Chua
Preacher charged with nine counts of rape, sexual assault

Others Also Read