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Posted on 2017-06-08 00:00:00

Find out if you are doing the right thing for your retirement fund!

As one of the top 20 pension funds in the world, Employees Provident Fund (EPF) offers finance graduates rewarding careers at a top-tier global company and a chance to make an impact on society.

EPF manages the savings of nearly 14.8 million workers in Malaysia and it is responsible for growing these funds through smart, prudent and almost prescient investments in shares, money markets, properties and infrastructure projects worldwide.

This is so a worker can retire after saving up in the EPF with considerably more money than she had ever saved.

Therefore, EPF is always on the lookout for high performers with the right attitude and confidence, and who can deliver more than what is required of their task, says Datuk Mohamad Nasir Ab Latif, Deputy Chief Executive Officer in charge of investments.

“We want people of diverse backgrounds, skills and experience. We want people who are analytical, mentally agile and have integrity. But we also want positive attitudes,” says Nasir.

Since it is a pension fund, the EPF primarily hires graduates from accounting, finance, banking, economics and other related disciplines, including law, actuarial science, computing and so forth.

“However, graduates from other disciplines, such as engineering and sciences, are encouraged to apply provided they have a positive attitude, are fast learners and are willing to upskill themselves,” he adds.

To attract millennials, the EPF is enhancing its human capital development programme to match the learning styles and preferences of this younger generation. The organisation has robust on-the-job training aimed at upgrading their skills and developing their careers.

“EPF’s training schemes provide them with continuous education and place them in high-demand, high-opportunity jobs. We have in place several programmes to ensure that every employee is given the opportunity to upgrade his skills and knowledge so that he can rise through the ranks and continue to move to more important or responsible positions in the organisation. EPF also ensures that staff get proper professional certification, such as in accounting and actuarial science,” says Nasir.


There are two cardinal things you must remember and do when it comes to retirement – save first and save early.

“When it comes to savings, put away one-third of whatever you make in a month first. And then only spend the rest of whatever you have,” says Nasir.

“People tend to think that you spend first, then save whatever little you have. But in proper financial planning, it’s the other way around, you save first.”

But some people think this is impractical because there will never be enough money for all their needs.

“You ask anybody and they never ever have enough for their needs,” says Nasir, who has heard this line all too often.

“But what people always fail to do is to distinguish what they need from what they want and what they desire.”

Understanding the difference between these three will decide whether you live within your means or whether you end up in debt.

For example, you need a smartphone. But you want a Samsung and desire an iPhone. But you only have enough to buy what you need, so buy a cheaper phone.

Don’t buy what you want or desire unless you can afford it, he says.

Another important thing to remember is to save early, especially in the EPF because of the compound interest that multiplies every year, says Nasir.

“This is why it is important to start early so as to accumulate more profits from compound interest as time goes on. If you start saving when you are older, even if you put more money in, you won’t see the benefits compared with a person who started early but with a little.”

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