EPF e-PAYROLL WINS WORLDPENSIONSUMMIT 2021 INNOVATION AWARD
KUALA LUMPUR, 15 October 2021: The Employees Provident Fund (EPF) has been named the winner of the Pensions & Investments WorldPensionSummit 2021 Innovation Award in the Technology category for its e-Payroll system during an award ceremony held on 14 October 2021.
The ceremony took place in conjunction with the annual WorldPensionSummit conference held in The Hague, Netherlands, to recognise innovation in communication, plan design, technology, and investment. The EPF’s e-Payroll was developed to assist small and medium-sized enterprise (SME) users of i-Akaun (Employer) who are not using any payroll management system or do not have the financial means to utilise a payroll solution.
EPF Chairman Tan Sri Ahmad Badri Mohd Zahir said, “We are proud to be a recipient of this international award as it recognises and endorses our e-Payroll initiative in providing digital solutions to improve our offerings to benefit both our employers and employees.”
“As a social security institution, it is paramount that we do our part to alleviate challenges faced by SMEs and improve pension coverage in Malaysia amid the COVID-19 pandemic.”
Launched in June 2021, the EPF e-Payroll provides employers with the capability to digitally store the records of their employees, helping to enhance process efficiency by reducing the time needed to manage activities related to statutory obligations.
Chief Executive Officer Datuk Seri Amir Hamzah said, “The pandemic has accelerated the adoption of digital technologies and because we at the EPF manage a large member and employer database on a daily basis, it is imperative that we step up on our initiatives to digitally enable our products and services for greater operational and cost efficiency.”
He added that the recognition by the WorldPensionSummit would serve as an impetus for the EPF to continue to innovate and offer the highest level of service while meeting the expectations of its members and employers.
This is the second award received from the WorldPensionSummit after bagging the 2016 Innovation Communication Award for Retirement Advisory Service (RAS).
Issued by the EPF Media Desk Corporate Affairs Department 15 October 2021
About the Employees Provident Fund (EPF)
The Employees Provident Fund (“EPF”) is one of the oldest retirement funds in the world. Established in 1951, the EPF is a social-security organisation focused on safeguarding member savings and delivering excellent services. In recent years, in line with its vision of helping members achieve a better future, the EPF has expanded its role to encompass the creation of a comprehensive social well-being ecosystem. Today, the EPF remains steadfast in its commitment to members through consistent efforts to update and improve itself, in order to build the foundation for sustainable, holistic and equitable well-being for all Malaysians