NUBE asks EPF make public its investments

(Bernama) — Calling for transparency, the National Union of Bank Employees (NUBE) has urged the Employees Provident Fund (EPF) to make public all its investments in light of the dividends declared in the past few years.

NUBE general secretary J. Solomon suggested that EPF make its investments public through the EPF website which could be done with minimum cost.

He said the move would, to some extent, allay any rightful concerns of the contributors about their monies invested by EPF.

“Though we are not privy to the decision-making process, at least, we should know the outcome of the decision,” said Solomon in a press statement Saturday.

He added that EPF’s reason for the limited amount of dividends declared was that it was justified due to the economic crisis was not compelling enough.

Solomon said a big question mark loomed over the type of investments being made, and whether they were made in the best interest of the fund, or for some other reason.

“EPF savings are the main source of livelihood of retirees from the private sector, at least for most people.

“The EPF Investment Board must be mindful of this fundamental fact and act in accordance with the spirit of providing for the retirement fund of contributors,” he said.