Last updated : 3/12/19 12:40 PM     

EPF’s Retirement Advisory Service Wins World Pension Summit Innovation Awards

KUALA LUMPUR, 17 November 2016: The Employees Provident Fund’s (EPF) Retirement Advisory Service (RAS) has been awarded the 2016 Pensions & Investments WorldPensionSummit Innovation Awards in the Communications category during an award-winning ceremony at the Louwman Museum in The Hague, Netherlands.

 

The ceremony on 10 November 2016 was held in conjunction with the World Pension Summit to honour institutions with great initiatives and solutions in pensions. 

 

EPF Deputy Chairman Dato’ Siti Zauyah Mohd Desa, who accepted the award, said, “We are truly honoured to receive this award as it recognises and endorses our initiative of providing first-of-its-kind advisory service that is free of charge, provides independent advice, and open to all in a bid to empower members to take charge of their own retirement and ensure financial security in their golden years.”

 

First introduced on 1 July 2014 as a pilot project in its two main branches in Kuala Lumpur and Petaling Jaya, RAS serves as a platform for members to obtain personalised advisory from EPF’s trained officers pertaining to retirement planning. The initiative has since been expanded to other locations throughout Malaysia.

 

Deputy Chief Executive Officer (Operations) Dato’ Mohd Naim Daruwish said, “As one of the social security organisations in Southeast Asia to provide such service, we are stepping beyond our traditional role of managing investments and related transactional relationships towards advisory-focused services.”

 

He explained that currently there are 18 RAS counters in EPF branches nationwide and by 2018, the advisory service will be offered at all branches, including establishing a mobile RAS, which is an outreach service to rural areas.

 

RAS officers are required to undertake the Registered Financial Planner programme run by the Malaysian Financial Planning Council under the purview of the Securities Commission. They are also required to undergo attachment programmes with other financial advisory agencies for six months before assuming the role as RAS officers.

 

About the Employees Provident Fund (EPF)

The Employees Provident Fund (EPF) is Malaysia’s premier retirement savings fund to help its members achieve adequate savings for a comfortable retirement. This is in line with EPF’s vision to help members achieve a better future and the mission to safeguard members’ savings and deliver excellent services. The EPF has evolved significantly from transaction-centric to a professional fund management organisation with a strong focus on retirement security. The EPF is guided by a robust and professional governance framework when making investment decisions. It continues to play a catalytic role in the nation’s economic growth and seeks to cultivate a savings and investment culture among its members to improve the country’s financial literacy level.