Nazir to step down from EPF panel this month

KUALA LUMPUR: Datuk Seri Nazir Razak has opted not to continue as an Employees Provident Fund (EPF) panel member when his tenure ends this month.

“After (a record) 15 years as EPF panel member, I have decided not to be considered for renewal at the end of my tenure this month.

“It’s been such a huge honour and privilege to serve since 2002 and witness EPF assets grow from RM200 billion to over RM750 billion today, pay consistently good dividends, and diversify from pure Malaysian investments to almost 30 per cent in the rest of the world,” said the CIMB Group Holdings chairman in an Instagram post.

EPF was a world-class pension fund and a great Malaysian success story, he said.

“So long as it continues to be led with integrity by a strong leadership team and follows its established institutional processes, EPF will continue to grow from strength to strength.” Nazir, who shared a photo of himself with EPF chairman Tan Sri Samsudin Osman, also expressed gratitude to the rest of the panel and EPF staff.

Among those who commented on Nazir’s Instagram post was AirAsia Bhd group chief executive officer and founder Tan Sri Tony Fernandes, who said good leadership was to know when to move on.

“Take a bow for all the work you have done in being part of a great organisation.

“Onto bigger and better things and hope the foundation you helped to build will maintain and grow. EPF has been a model institution,” said Fernandes.

So long as it continues to be led with integrity by a strong leadership team and follows its established institutional processes, EPF will continue to grow from strength to strength. CIMB Group Holdings chairman