About e-PPA


logo-fimmThe Employees' Provident Fund or EPF is a Malaysian government agency under the Ministry of Finance. It manages the compulsory savings plan and retirement planning for private sector workers in Malaysia. Membership of the EPF is mandatory for Malaysian citizens employed in the private sector, and voluntary for non-Malaysian citizens.


Members of the EPF are allowed to withdraw a portion of their funds to invest in approved unit trust funds. The process of withdrawal and return of funds for this investment process was manual and took between 7 to 14 days, during which the unit trust companies had to pre-fund the purchases of the fund units, leaving these companies exposed to the vagaries of price fluctuations. The redemption process in which the EPF members sold their investments and have the proceeds credited into their respective EPF accounts also took a similar timeframe.


Furthermore, the process was also exposed to possible human errors as fingerprints had to be verified manually as part of the approval process, which was also paper-driven.


In 2008, the Federation of Malaysian Unit Trust Managers (now known as the Federation of Investment Managers Malaysia or FIMM) appointed Rexit Software as the Third Party Administrator (“TPA”) to facilitate the process between the various parties.  The implementation of the e-Pilihan Pelaburan Ahli (“e-PPA”) reduced the processing time of both the investment and redemption process to no more than 3 days in total.


The e-PPA garnered two awards for EPF, namely the IDC-Enterprise Innovation Awards 2010 and the Share Guide Association of Malaysia (SGAM) ICT Awards for Best Process Innovation Award 2010.

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