Two institutions, namely the Department of Labour and the Central Bank, manage the EPF. The administration of the fund is handled by the Department of Labour while the Fund is managed by the Central Bank.

" The main function of EPF is to provide a retirement benefit for employees of the corporate and private sector who do not belong to any other pension or provident fund in order for them to secure a better standard of living at retirement."

In order to carry out the main goal of EPF, the Labour Department is involved in registering employers and employees, enforcing on delinquent employers and processing housing loan guarantee applications and refund applications while the Central Bank is involved in collecting monthly contributions from employers, investing the funds, maintaining member’s accounts and making payments of refunds on application.