Latest news with #MohdZukiAli
New Straits Times
18-06-2025
- Business
- New Straits Times
EPF unveils sustainability commitment to drive inclusive, climate-resilient future
KUALA LUMPUR: The Employees' Provident Fund (EPF) unveiled its EPF Sustainability Commitment during the International Social Wellbeing Conference 2025, outlining a transformative roadmap toward a more sustainable, inclusive, and climate-resilient future. The announcement was made by EPF chairman Tan Sri Mohd Zuki Ali, who stressed the urgency of confronting global challenges while safeguarding long-term societal resilience. In his speech, he reflected on the conference's key themes, underscoring the need to prepare for longer lives by fundamentally rethinking societal resilience. "Preparing for longer lives requires more than policies and programmes. It demands fundamental rethinking of how we build resilience across all aspects of society," he said, calling for urgent and focused action. At the heart of the EPF Sustainability Commitment is a comprehensive strategy to embed sustainability across the organisation's operations, policies, and investments. The chairman explained that the initiative seeks to tackle climate resilience and promote low-carbon growth, enhance inclusion and equity within communities, and uphold transparency, integrity, and accountability. EPF envisions this initiative as a shift from safeguarding savings to stewarding futures, with the ultimate goal of creating long-term value for members and society. Mohd Zuki also shared the need to address the impacts of climate change, rising inequality, and economic uncertainty, noting that these challenges are already affecting lives and livelihoods, particularly among older populations. He highlighted that the effects of biodiversity loss and global warming make sustainability not just an ethical responsibility but also a strategic necessity. "Capital, when purposefully directed, can catalyse meaningful change," he stated, emphasising the role of institutional investments in fostering economic and environmental resilience. EPF's strategy underscores the importance of aligning financial stewardship with broader societal objectives. By investing in businesses and industries committed to sustainability, the EPF aims to secure the stability of its portfolio while contributing to a healthier economy, environment, and society. He also reiterated that sustainability is no longer a choice but an essential measure to safeguard the future. The speech concluded with a call to action, urging policymakers, academics, investors, employers, and citizens to collaborate in creating a secure, inclusive, and sustainable future. "Achieving a secure, inclusive, and sustainable future requires the collective effort of every sector," he said.
The Star
17-06-2025
- Business
- The Star
Ageing society will deeply affect healthcare and workforce, says EPF chairman
KUALA LUMPUR: The demographic transformation of Malaysia's ageing society will have a profound effect on the healthcare systems, workforce, and social fabric, says Employees Provident Fund (EPF) chairman Tan Sri Mohd Zuki Ali. He pointed out that older individuals are not simply recipients of care but also contributors, consumers, caregivers, volunteers and mentors. 'Longer lives also open up new frontiers. The rise of the longevity economy, shaped by the contributions, consumption and experience of older adults, is an opportunity for innovation," he said at the International Social Wellbeing Conference (ISWC) 2025 here on Tuesday (June 17). 'It extends beyond pensions and healthcare to encompass how we design cities, structure workforces, build inclusive technologies, and promote lifelong learning and active ageing. 'As such, our policies and systems must empower them to continue participating meaningfully in society, well into later life,' he said during his welcoming remarks. ALSO READ: EPF CEO says retirement systems must evolve ISWC 2025, themed "Living to a Hundred: Are We Prepared?", was officiated by Prime Minister Datuk Seri Anwar Ibrahim. Also present were Finance Minister II Senator Datuk Seri Amir Hamzah Azizan, EPF chief executive officer Ahmad Zulqarnain Onn, Cabinet ministers, senior government officials, and members of the EPF board and investment panel. As of 2023, 7.5% of Malaysians were aged 65 and above; by 2043, this number will nearly double to 14%, and by 2058, more than one in five Malaysians will be 65 or older. To address this, the EPF is advancing pension system reforms and financial innovation. In December, it introduced the Retirement Income Adequacy (RIA) Framework, enabling members to assess their retirement readiness across three tiers: basic, adequate and enhanced. An intergenerational transfer feature, announced in Budget 2025, will allow members to allocate part of their savings to support their family members' retirement. ALSO READ: Women receive less retirement income than men, says expert The EPF is also enhancing support for informal workers through its i-Saraan programme, which now offers a 20% government matching incentive, capped at RM500 annually and RM5,000 over a lifetime. Last year, the number of voluntary contributors grew by 32% to 1.2 million with more than 800,000 or close to 70% of contributors being individuals outside the formal labour force, comprising gig workers and other types of informal employment, contributing a total of RM13.7bil. Of these, more than 520,000 members contributed to i-Saraan, with total contributions amounting to RM2.6bil. 'We recognise that financial security is the bedrock of meaningful retirement. Planning for longevity starts with an honest understanding of the income required for a long and fulfilling life. 'We also acknowledge that retirement readiness is no longer an individual pursuit but a shared responsibility among families. "In this spirit, a new intergenerational savings transfer feature will be introduced by the end of this year, allowing family members to contribute to each other's retirement security. 'This reflects a more collaborative approach to long-term financial planning,' Zuki said. ALSO READ: Modern economy creates new insecure social class, says expert The event is jointly organised by the EPF, the Implementation Coordination Unit of the Prime Minister's Department and the Finance Ministry to catalyse ideas and policies around the longevity economy. Prominent participants of this year's ISWC include former prime minister of Sweden Fredrik Reinfeldt, Basic Income Earth Network founding member and honorary co-president Prof Guy Standing, World Economic Forum Longevity Economy lead Haleh Nazeri, and Sunway Centre for Planetary Health director Tan Sri Jemilah Mahmood.
New Straits Times
17-06-2025
- Business
- New Straits Times
EPF steps up retirement reforms ahead of ageing nation shift
KUALA LUMPUR: The Employees Provident Fund (EPF) is ramping up retirement reforms to address widening gaps in income security, as Malaysia braces for a demographic shift that will see 14 per cent of its population aged 65 and above by 2043. Chairman Tan Sri Mohd Zuki Ali said retirement adequacy must be built on fair wages and inclusive participation, noting that all government-linked investment companies (GLICs), including the EPF, have adopted a living wage policy. "That's why all GLICs, including the EPF, have adopted a living wage policy, and we will continue to engage our investee companies to champion decent work as a foundation for long-term security," he said in a statement today. The move comes as the EPF strengthens its long-term strategy to future-proof Malaysia's retirement landscape amid rising life expectancy and cost-of-living pressures. To address these challenges, the EPF introduced the Retirement Income Adequacy (RIA) Framework in December 2024, allowing members to assess their retirement preparedness across three tiers, namely basic, adequate and enhanced. Additionally, a new intergenerational transfer feature, announced under Budget 2025, enables members to allocate part of their savings to support the retirement of family members. This measure is seen as critical to promoting financial resilience across households. The EPF is also expanding coverage to informal and gig economy workers through its i-Saraan programme, which offers a 20 per cent government matching incentive capped at RM500 annually and RM5,000 over a lifetime. As of 2024, the number of voluntary contributors rose by 32 per cent to 1.2 million, with nearly 70 per cent comprising individuals outside the formal workforce. "Longer lives open new frontiers," Mohd Zuki said, in conjunction with the International Social Wellbeing Conference 2025 (ISWC 2025), which was officiated by Prime Minister Datuk Seri Anwar Ibrahim today. "The rise of the longevity economy, shaped by the contributions, consumption and experience of older adults, is an opportunity for innovation beyond pensions and healthcare. It includes how we structure our workforce, build inclusive technologies, and promote lifelong learning and active ageing," he added. Held under the theme "Living to a Hundred: Are We Prepared?", ISWC 2025 brought together policymakers and industry leaders to explore structural shifts needed to sustain a growing ageing population. The two-day event attracted more than 1,500 participants, including global experts such as former Swedish Prime Minister Fredrik Reinfeldt and World Economic Forum longevity lead Haleh Nazeri, who were scheduled to discuss policies, innovations and inclusive strategies to strengthen income security and social wellbeing.
The Sun
22-05-2025
- Business
- The Sun
EPF: RM213.2 billion outsourced to external fund managers as of Dec 31 2004
PETALING JAYA: The Employees Provident Fund (EPF) outsourced RM213.21 billion to external fund managers, representing 17% of its total investment assets, as of Dec 31, 2024. This was disclosed at the annual EPF External Fund Managers Annual Award Dinner held to honour the top-performing external fund managers in their respective mandates for 2024. The panel of external fund managers delivered a record total income of 24% of the EPF's overall investment income. EPF chairman Tan Sri Mohd Zuki Ali said, 'The achievement is a testament to the depth of talent, insight, and collaboration across the investment ecosystem cultivated by the EPF and its external fund managers. Despite the external headwinds and market volatility over the past year, the EPF and its external fund managers have demonstrated agility and resilience in managing a diversified portfolio aimed at delivering long-term value for our members.' For the financial year ended 2024, the EPF delivered a dividend rate of 6.3% for both Simpanan Konvensional and Simpanan Shariah, resulting in a total payout of RM73.24 billion. Of this amount, RM63.05 billion was distributed to Simpanan Konvensional, while RM10.19 billion to Simpanan Shariah. The EPF recorded a total investment income of RM74.46 billion in 2024, while the size of its investment assets grew to RM1.25 trillion – firmly positioning the EPF as one of the largest pension funds in the world. 'The EPF is committed to innovation, leveraging artificial intelligence and automation to enhance operational efficiency and develop a more agile, future-ready investment infrastructure. At the same time, the integration of ESG considerations across our portfolios remains a strategic priority to reinforce long-term resilience. We actively engage with our external fund managers to ensure they are aligned with our purpose for sustainable and inclusive growth,' said Mohd Zuki in a statement today.
New Straits Times
22-05-2025
- Business
- New Straits Times
EPF nets RM75bil from RM213bil outsourced funds
KUALA LUMPUR: A total of RM213.21 billion had been outsourced to external fund managers as at end-2024, representing 17 per cent of the Employees Provident Fund's (EPF) total investment assets. In a statement, the retirement savings fund said its panel of external fund managers delivered a record total income of 24 per cent of its overall investment income. EPF chairman Tan Sri Mohd Zuki Ali said the achievement reflects the depth of talent, insight and collaboration across the investment ecosystem cultivated by the EPF and its external fund managers. "Despite the external headwinds and market volatility over the past year, the EPF and its external fund managers have demonstrated agility and resilience in managing a diversified portfolio aimed at delivering long-term value for our members," he said. For the financial year ended 2024, the EPF delivered a dividend rate of 6.30 per cent for both Simpanan Konvensional and Simpanan Shariah, resulting in a total payout of RM73.24 billion. Of this amount, RM63.05 billion was distributed to Simpanan Konvensional, while RM10.19 billion to Simpanan Shariah. The EPF recorded a total investment income of RM74.46 billion in 2024, while the size of its investment assets grew to RM1.25 trillion. Mohd Zuki said the fund is committed to innovation, leveraging artificial intelligence and automation to enhance operational efficiency and develop a more agile, future-ready investment infrastructure. "At the same time, the integration of ESG considerations across our portfolios remains a strategic priority to reinforce long-term resilience. "We actively engage with our external fund managers to ensure they are aligned with our purpose for sustainable and inclusive growth," he added. To recognise their exceptional performance, the EPF honoured 12 top-performing external fund managers across their respective mandates at the annual EPF External Fund Managers Award Dinner. Among the winners are BNP Paribas Asset Management Najmah Malaysia Sdn Bhd named the Best Domestic Equity Fund Manager (Syariah) and Nomura Asset Management awarded the Best EPF Global Equity Fund Manager and Best EPF External Fund Manager.
