EPF Must Help More Malaysians Achieve Retirement Adequacy -- Amir Hamzah

KUALA LUMPUR, Oct 27 (Bernama) -- The Employees Provident Fund (EPF) must help more Malaysians achieve retirement adequacy by adapting to changing employment patterns while continuing to deliver sustainable returns, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

He said EPF’s ambition beyond its 75th anniversary should go beyond growing its size to becoming more relevant, inclusive and impactful, while remaining true to its core responsibility of safeguarding members’ retirement savings.

“A modern retirement institution must see members not merely as contributors, but as people. People with aspirations and responsibilities. People raising children while caring for ageing parents. People whose lives do not always move in straight lines and whose needs evolve over time.

“That is why EPF’s journey continues to evolve. From savings to security. From security to wellbeing. And from serving individual members to helping build a stronger, more resilient nation,” he said at the EPF’s 75th Anniversary Gala Dinner yesterday.

Amir Hamzah, who served as EPF chief executive before being appointed Finance Minister II in 2023, said his experience at the fund and in government had given him two perspectives on its role.

From the government’s perspective, he said, retirement adequacy was closely linked to national resilience, household financial security underpinned economic stability, and long-term savings provided a foundation for investment and economic growth.

Meanwhile, EPF chairman Tan Sri Mohd Zuki Ali said the fund must continue to evolve alongside Malaysia while remaining anchored in the trust placed in it and its responsibility to members.

Over the past 75 years, EPF had grown alongside the country, navigating economic crises, technological change, shifts in employment patterns and the disruption caused by the COVID-19 pandemic, he said.

“Each period brought different pressures and choices. Yet one responsibility endured: to safeguard the financial futures of Malaysians while ensuring EPF remained resilient enough to carry that responsibility from one generation to the next,” he added.

-- BERNAMA