‘Big shoes to fill as CEO’

> Alizakri calls appointment an unexpected honour, but it’s business as usual come Aug 20

KUALA LUMPUR: Employees Provident Fund (EPF) CEOdesignate Tunku Alizakri Raja Muhammad Alias said he has big shoes to fill, taking over from outgoing CEO Datuk Shahril Ridza Ridzuan, who was there for five years.

Shahril is due to report for duty at Khazanah Nasional Bhd as managing director on Aug 20.

Calling it an unexpected honour, Alizakri said the driver might be different but the destination is the same, adding that it will be business as usual under his helm.

“I think it is a clear indication that the government is starting to view from a people perspective and also people agenda … the social security agenda of Malaysians,” he said.

Meanwhile, EPF chairman Tan Sri Samsudin Osman said he is pleased with Alizakri succeeding Shahril, considering that he is from the organisation and is familiar with its culture and system, allowing for a smooth transition.

He expressed confidence that Alizakri will bring EPF to greater heights and maintain its stability.

Shahril, on the other hand, said that he is glad to leave the EPF in such a great state and expects it to be a better and more sophisticated organisation in five years.

“If you look at EPF today I think we are an extremely strong organisation. We are actually known for our strong governance, standards of integrity and service,” he said.

The organisation transformed from being operationally driven to being advisory driven. About 80% of its transactions are done online or via self-service. Last year, the EPF delivered its biggest profit ever and biggest dividend in 20 years.

“Our mandate has expanded from just purely collecting contributions, we invest and pass it back at a determined future, now we are going for a better future with our members,” said Alizakri.

He said this will include financial empowerment, health and also to enable a purposeful life for members.

“The last two areas are going to be a bit of a challenge for us because it is not within our direct control, but what we can actually do is to influence and advise the government on the importance of social security and social protection and by working with sister agencies,” he added.

Samsudin concurred, citing statistics which revealed that 62% of the 22 million workingaged Malaysians are selfemployed and not covered by any formal social protection, such as the EPF and government pension scheme, while those who are contributing to the fund are falling short in terms of savings.

The EPF is also in discussion with Grab to enable its drivers to start contributing, as Grab drivers are not considered as employees.