Mohamad Nasir Ab Latif, the Malaysia Employee Provident Fund’s deputy chief executive officer (investment), will stay on until the end of next year to ensure a successful leadership transition for the $194.6 billion pension organization.
Nasir was initially scheduled to retire Wednesday, as he turned 60, the national retirement age. He has worked at the fund for 36 years.
“The decision to extend his tenure is to ensure continuity in the EPF’s investment division and enable a smooth succession plan,” the fund said in a Monday statement.
In addition to his other responsibilities, the deputy CEO also acts as the fund’s chief investment officer. Nasir is one of three deputies who run the Employee Provident Fund’s investments. Mohd Naim Daruwish oversees the investment operations, while the third deputy post, which handles strategy, has been vacant since August.
This is because longtime CEO Ridza Ridzuan left the fund to run Khazanah Nasional Berhad, the Malaysia government’s strategic investment arm. To fill the void, the fund bumped then-deputy Alizakri Alias to CEO without a replacement.
The pension plan manages the compulsory savings and retirement planning for Malaysia’s private sector employees.
Nasir, whose new retirement date is December 31, 2019, also sits on the boards of Sime Darby Plantation Berhad, PLUS Malaysia Berhad, Yinson Holdings Berhad, BBCC Development Sdn Bhd, the Battersea Project, and Yarra Park City Pty Ltd.