The Malaysia Employee Provident Fund (EPF, or KWSP) was established in 1951 to help the Malaysian workforce to save for their retirement. There are 14.5 million total members, of which 7.6 million are active. The investment assets total US$ 237 billion as of June 2021. The Fund has both conventional and Sharia compliant investment options and outsources roughly 15% of portfolio to external fund managers. The Malaysian government is currently considering significant reforms to the nation’s social protection system.