Date: 12 Oct 2020
EPF Conducts Public Consultation To Seek Input For Scheme Enhancement

KUALA LUMPUR, 12 October 2020: Recognising the ever changing needs and requirements of its members, especially in this volatile and uncertain world, the Employees Provident Fund (EPF) is inviting all members of the public to participate in the EPF 2020 Public Consultation Survey.

The survey, which runs online for eight weeks beginning 8 October 2020, is in line with the EPF’s vision to help members achieve a better future while at the same time safeguarding their savings and delivering excellent services. Towards this end, the EPF is seeking to gather as much input as possible to help develop, improve, and potentially redesign the EPF scheme for the future.

EPF Chief Strategy Officer, Nurhisham Hussein said, “We are cognisant that our members’ needs change depending on their circumstances in life, their age or career progression. On top of members’ needs, the job landscape and work culture has changed with the adoption of technology and economic conditions. Hence, the time is ripe for us to relook the EPF scheme and to do this well, we have to solicit the public’s opinion.

“Our members’ well-being matters to us and we believe that the best way to serve them better is to go back to the public, including Malaysian and non-Malaysian members. We want to know about what they think on how we can improve or do better”.

Nurhisham added, “We last conducted a survey in 2015 and at that point, it was the largest ever public consultation carried out in Malaysia. We cannot stress enough how important the public’s feedback is as the responses were the basis of subsequent changes and improvements we made. With 2021 around the corner, we feel that it is timely to conduct another survey in order for us to better understand the public’s needs and how we can help them to prepare for their retirement”.

The EPF 2020 Public Consultation Survey aims to:

  • Obtain public views and opinions related to the existing EPF Scheme and its improvement.
  • Understand the needs of members and prospective members before and after retirement.
  • Strengthen aspects of direction and strategy in implementing improvements to the EPF scheme and its products and services.

Nurhisham also said, “The survey’s focus is on matters which our members have, in recent years, brought to our attention. While we have done our best to respond with various innovations and service improvements, we feel that we can improve even more by asking more specific questions related to the heart of members’ aspirations. Therefore, for this year’s survey, we have questions covering areas such as contributions, withdrawals, dividends, and the EPF account structure. We wish to emphasise that the survey is for the public, whether they are contributors to the EPF or not, as we want to hear from everyone in order to design an EPF scheme that is inclusive and sustainable”.

EPF 2020 Public Consultation Survey is open until 30 November 2020 to all Malaysians, as well as non-Malaysians who are working in the country.

Issued by the EPF Media Desk
Corporate Affairs Department
12 October 2020

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