EPF launches sustainability commitment to enhance retirement security
by FARAH SOLHI
THE Employes Provident Fund (EPF) has launched its Sustainability Commitment agenda, aimed to promote a just transition for Malaysians towards a more inclusive, climate-resilient and secure future.
While its core mandate remains steadfast, the commitment is to assist Malaysians in achieving a comfortable retirement income.
Chairman Tan Sri Mohd Zuki Ali said preparing for longer life expectancy requires not just policies and programmes, but also fundamental rethinking of how resilience could be built and achieved in all aspects of society.
'From reimagining retirement systems to fostering healthier, more inclusive communities, we must now act with urgency and purpose.
'Retirement security cannot be detached from rising inequality, ecological degradation or economic volatility (and) we must respond with foresight, courage and a collective will to act,' he said during the launch of the commitments at the International Social Wellbeing Conference 2025 (ISWC 2025) today.
Mohd Zuki noted that EPF is aligning its strategies with a broader vision of sustainable and inclusive growth, one that protects not only capital but communities; that builds not only returns, but also resilience.
He said the role of institutions like EPF must now evolve from safeguarding savings to stewarding futures.
'We believe that capital, when directed with purpose, can be a powerful lever for change.'
Mohd Zuki also said sustainability is no longer optional but a strategic imperative. He outlined the three pillars of the commitments, namely environmental action, social impact, and culture and governance.
Environmental action aims to drive climate resilience and low-carbon growth, while social impact focuses on promoting inclusion, equity and community wellbeing. The third pillar, culture and governance, ensures transparency, integrity and accountability in EPF's actions.
'In making sustainability a core part of our DNA, we move from aspiration to action and from intent to impact — this is how we ensure that as our members retire, they do so in a world that is still worth living in,' he added.
The launch of the sustainability commitments reaffirms EPF's role as a national institution committed to the wellbeing of all Malaysians.
In support of these, EPF has also undertaken a strategic refresh of its existing sustainable investment policies to reinforce its elevated ambitions and revised expectations of investee companies.
The revised policies — namely the Sustainable Investment Policy, Climate Change Policy, Workers Wellbeing Policy and Priority Sectors Policy, and Sustainable Investment Stewardship Policy, also reflect EPF's efforts to deepens its stewardship practices and realign with national and global sustainability frameworks.
The commitments launched today reflect EPF's broader alignment with the Madani Economy framework, particularly in supporting efforts to raise the standard of living and promote inclusive growth.
They also align with Malaysia's net zero aspirations and contribute to a more climate-resilient future for the nation.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
2 hours ago
- New Straits Times
RHB unveils faster, more secure banking app for customers
KUALA LUMPUR: RHB Banking Group has launched its new RHB Mobile Banking App (MBK App), offering customers a faster, simpler and more secure way to manage their everyday finances. The bank said the app is a key milestone in its broader digitalisation agenda under its three-year PROGRESS27 strategy. The app features a redesigned interface that delivers a more intuitive and seamless user experience. "With faster load times and enhanced security features, the app is protected by biometric login, a built-in safety layer for all transactions called SecurePlus, and malicious app protection," it said. RHB managing director of group community banking Jeffrey Ng said the new app reflects the bank's ongoing commitment to making banking more accessible, seamless and secure for all Malaysians. "We have designed this app with user experience at its core, empowering our customers to take control of their finances anytime, anywhere with confidence and ease," he noted. RHB said one of its standout features is Malaysia's first-ever banking widget, allowing users to perform essential transactions such as payments and transfers directly from their home screen without opening the app. The new app also features RHB's multi-currency account, enabling customers to buy and sell foreign currencies at competitive rates, all within a few taps. Additionally, customers can redeem in-app reward points earned from day-to-day banking activities, for a wide range of preferred items. RHB claimed that the upgrades have boosted customer satisfaction, with app ratings rising from 3.5 to 4.7 on Google Play and maintaining a 4.8 on the Apple App Store. It added that the app's user interface has also been reimagined to offer a one-glance view of finances across accounts, cards, and more, streamlining banking like never before. As part of the rollout, RHB partnered with Payments Network Malaysia Sdn Bhd to launch an exclusive customer rewards campaign, encouraging wider use of QR code payments, a space where Malaysia now ranks second globally with 66.1 per cent adoption, just behind China.
New Straits Times
4 hours ago
- New Straits Times
Bank Rakyat unveils new scheme for private sector's employees
KUALA LUMPUR: Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) has launched Pembiayaan Peribadi-i Swasta (InstaCash), a new Shariah-compliant personal financing product targeted at private-sector employees. The initiative forms part of the bank's wider strategy offering up to RM50,000 with approval granted within 24 hours. Bank Rakyat chief retail banking officer Khairudin Abdul Rahman said InstaCash is designed to meet the day-to-day financial needs of private-sector workers. "InstaCash comes with competitive profit rates and is structured to support financial wellness among underserved segments, in line with Islamic banking principles. "In just two days since its soft launch, the product has already recorded RM1.3 million in financing disbursed, with 88 applications approved, underscoring the strong early demand," he said at a media engagement today. Khairudin highlighted the application requires minimal documentation, such as salary slips and Employees Provident Fund (EPF) statements, chosen for their reliability and difficulty to forge. "EPF data is harder to fake. If needed, customers can come in, provide a thumbprint and we can verify it instantly through online access. That is part of our risk mitigation strategy," he added. To further streamline the application process, the bank has introduced a QR Brick scan feature, enabling users to initiate their InstaCash application instantly via mobile. Once approved, no guarantor is needed, and customers can sign the financing contract on the same day. Disbursement follows the next morning in accordance with Bank Negara Malaysia's settlement regulations. "This marks a major expansion for the cooperative bank, which currently counts 1.2 million out of Malaysia's 1.6 million civil servants as customers. "With only about 400,000 civil servants left and many already with other banks, it's a saturated space. So it's time we look to the private sector," Khairudin added. Bank Rakyat expects InstaCash to contribute RM130 million in financing by December this year, with an annual target of RM240 million starting from 2026. "If performance and demand are strong, we're open to expanding the facility. But all changes will go through a review cycle for six months, or a year," Khairudin said.
Malaysian Reserve
6 hours ago
- Malaysian Reserve
EPF launches sustainability commitment to enhance retirement security
by FARAH SOLHI THE Employes Provident Fund (EPF) has launched its Sustainability Commitment agenda, aimed to promote a just transition for Malaysians towards a more inclusive, climate-resilient and secure future. While its core mandate remains steadfast, the commitment is to assist Malaysians in achieving a comfortable retirement income. Chairman Tan Sri Mohd Zuki Ali said preparing for longer life expectancy requires not just policies and programmes, but also fundamental rethinking of how resilience could be built and achieved in all aspects of society. 'From reimagining retirement systems to fostering healthier, more inclusive communities, we must now act with urgency and purpose. 'Retirement security cannot be detached from rising inequality, ecological degradation or economic volatility (and) we must respond with foresight, courage and a collective will to act,' he said during the launch of the commitments at the International Social Wellbeing Conference 2025 (ISWC 2025) today. Mohd Zuki noted that EPF is aligning its strategies with a broader vision of sustainable and inclusive growth, one that protects not only capital but communities; that builds not only returns, but also resilience. He said the role of institutions like EPF must now evolve from safeguarding savings to stewarding futures. 'We believe that capital, when directed with purpose, can be a powerful lever for change.' Mohd Zuki also said sustainability is no longer optional but a strategic imperative. He outlined the three pillars of the commitments, namely environmental action, social impact, and culture and governance. Environmental action aims to drive climate resilience and low-carbon growth, while social impact focuses on promoting inclusion, equity and community wellbeing. The third pillar, culture and governance, ensures transparency, integrity and accountability in EPF's actions. 'In making sustainability a core part of our DNA, we move from aspiration to action and from intent to impact — this is how we ensure that as our members retire, they do so in a world that is still worth living in,' he added. The launch of the sustainability commitments reaffirms EPF's role as a national institution committed to the wellbeing of all Malaysians. In support of these, EPF has also undertaken a strategic refresh of its existing sustainable investment policies to reinforce its elevated ambitions and revised expectations of investee companies. The revised policies — namely the Sustainable Investment Policy, Climate Change Policy, Workers Wellbeing Policy and Priority Sectors Policy, and Sustainable Investment Stewardship Policy, also reflect EPF's efforts to deepens its stewardship practices and realign with national and global sustainability frameworks. The commitments launched today reflect EPF's broader alignment with the Madani Economy framework, particularly in supporting efforts to raise the standard of living and promote inclusive growth. They also align with Malaysia's net zero aspirations and contribute to a more climate-resilient future for the nation.
