SINTOK, 10 December 2024: The launch of the UUM-KWSP Touch N Go Card serves as a means to promote savings within the Universiti Utara Malaysia (UUM) campus community while encouraging them to become members of the Employees Provident Fund (EPF).
The Vice-Chancellor, Prof. Dato’ Dr Mohd Foad Sakdan said that the primary aim of this initiative is to enhance financial literacy awareness among UUM students and staff. He also expressed hope that the utilisation of the card could be made compulsory for all students.
According to him, the EPF was established to manage compulsory retirement savings for employees in the private sector, rather than for public sector pensions. Over time, it has evolved to foster voluntary retirement savings across various levels of society.
He said that UUM possesses the necessary expertise and resources to collaborate with the EPF in promoting a culture of financial planning within the community, especially among UUM students and staff.
“Involvement in programmes such as treasure hunts, poster exhibitions and financial literacy video screenings as well as various activities, are the most effective means to familiarise students and the broader community with essential financial management strategies.
“The involvement of industry partners such as FWD, Kedah State Zakat Board, EPF, Tabung Haji, Amanah Saham Nasional Berhad and others underscores the ongoing commitment to strategic collaboration between universities and industries. This partnership aims to enhance the value and quality of education for students, especially at UUM,” he said this in his speech delivered by UUM COB Assistant Vice-Chancellor, Prof. Dr Ram Al Jaffri Saad at the Opening Ceremony of Financial Literacy Week and launch of UUM-EPF Touch N Go Cards at the Foyer of the Sultanah Bahiyah Library this morning.
He expressed confidence that these efforts would yield positive outcomes for the nation and hoped they would be blessed with divine favour.
Meanwhile, the Director of the EPF Northern Region, Mr. Jeffary Mohamed Isa shared that EPF’s collaboration with UUM, initiated in 2023, has focused on advancing financial education and organising retirement planning programmes at the university.
He also highlighted a recent collaboration between the Islamic Business School (IBS) and EPF to raise awareness among EPF members about the significance of takaful protection through the FWD Takaful product.
He said that the EPF has also introduced i-Saraan, a voluntary contribution programme that offers self-employed individuals and gig economy workers without a stable income the chance to obtain special government incentives for retirement, subject to specific conditions.
“I fervently hope that the partnership between the EPF and UUM will continue in the future, especially considering that a total of 30,000 UUM students are registered with the EPF, enjoying numerous benefits.
“All members of the UUM community, including students and staff, are encouraged to take advantage of this opportunity. The Touch N Go card is provided at no cost to those who join as EPF members and receive a minimum one-time payment of RM30.
“This initiative is also being implemented at other universities and is expected to serve as an incentive for registration while promoting long-term savings,” he said.
Also in attendance were the Dean of IBS, Assoc. Prof. Dr Selamah Maamor, along with senior university officials.
