Monday, July 22, 2013

EPF tightens FMI guidelines to safeguard retirement savings (MALAYSIA NEWS)

KUALA LUMPUR: The Employees Provident Fund (EPF) has introduced comprehensive guidelines to further enhance its supervision on the Fund Management Institutions (FMIs) appointed under the EPF Members Investment Scheme to safeguard members’ retirement savings.
The guidelines, which took effect on Monday, are to ensure the appointed FMIs and approved funds offered by the FMIs were operating under best industry standards and investment practices.
Deputy CEO for investment Mohamad Nasir Ab Latif said the guidelines would instil a higher level of best practices, and clearly underline roles and responsibilities of the appointed FMIs in offering funds as an option for members to enhance their retirement savings. – Bernama 
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