How the system works?


The e-PPA was designed to connect the various unit trust companies (called Institusi-institusi Pengurusan Dana or IPD), EPF and the participating bank so that the submission and processing of applications are seamless and automated, once they are loaded into the system.

eppa-diagram

EPF members intending to invest in a unit trust fund using their retirement funds need to complete the necessary investment or redemption applications, affix their thumbprints on the relevant form as well as provide a photo ID.  The IPDs will scan and digitise these documents for submission to Rexit via the e-PPA system.
The e-PPA system collates the applications from the various IPDs, carries out the necessary verification before transmitting them to EPF within the agreed timeframe.  The response files from EPF would be processed, transmitted to Rexit via the e-PPA system for dissemination to the respective IPDs.  The relevant banking details are also sent to the IPDs via the e-PPA system for verification.   The redemption process is carried out in a similar manner using the e-PPA system.


The e-PPA system allows three functions to be carried out, namely:
•    Eligibility Check (same day response)
•    Investment
•    Redemption

The implementation of the e-PPA system has significantly reduced the financial risk to the IPDs while the automated processes have reduced the operational risks to EPF with various validation checks being included.  Additionally, the digital checking of the encrypted thumbprints has eliminated the reliance on eyeballing which is prone to human error.

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