Ensuring Continuity, Building Resilience
INTEGRATED REPORT 2023
honouring the past
enriching the future
The annual report theme celebrates KWAP’s legacy of value delivery to Malaysian pensioners through the depiction of the art of batik. This traditional art, that continues to thrive, symbolises the honouring of past contributions of our pensioners and a commitment to build an enduring legacy for the future. The art of batik is also a passionate joy – one of many that we hope our pensioners can indulge in with the retirement well-being KWAP delivers with dedication.
How KWAP Operates
KWAP is Malaysia’s largest public sector pension fund for civil servants. We are the recipient of contributions originating from the Federal Government and other relevant agencies, and we are mandated to invest these contributions to obtain maximum sustainable returns through sound risk management and investment strategies. In 2015, KWAP officially took over the role of the Bahagian Pasca Perkhidmatan Pencen, Jabatan Perkhidmatan Awam (JPA)‘s Post Pension Services Division, and we now administer pension payments, gratuities and other benefits to Federal Government retirees.
Staying at the forefront
Kumpulan Wang Persaraan (Diperbadankan) (KWAP) or the Retirement Fund (Incorporated) was established on 1 March 2007 under the Retirement Fund Act 2007 (Act 662) replacing the repealed Pensions Trust Fund Act 1991 (Act 454).
The Pensions Trust Fund Act 1991 (Act 454) was enacted to assist the Federal Government in funding its pension liability. With the enactment of this Act, the Pensions Trust Fund was established on 1 June 1991 with a launching grant of RM500 million from the Federal Government. The Pensions Trust Fund was administered by the Pensions Trust Fund Council with the Accountant-General of Malaysia being responsible for the day-to-day administration and management of the affairs of the Pensions Trust Fund.
With the incorporation of KWAP, all the powers, functions, activities, assets and liabilities of the Pensions Trust Fund were taken over in totality by KWAP.
Functions
- Management of contributions from the Federal Government, Statutory Bodies, Local Authorities and other Agencies; and
- Administration, management and investment of the Fund in equity, fixed income securities, money market instruments and other forms of investment as permitted under the Retirement Fund Act 2007 (Act 662); and
- Management and payment of pension.
VISION
To be the trusted retirement fund that supports nation building by innovatively delivering sustainable benefits.
MISSION
To optimise investment returns and deliver excellent services by adopting best practices in meeting the key stakeholders’ commitments.
Objective
To achieve optimum returns on investments for the Fund so as to assist the Federal Government Administration in financing its pension liability.
Awards & Recognition
- DEDICATION TO EXCELLENCE
- KWAP’s strong performance directly benefits retirees, will continue to be maintained through healthy and responsible investment principles. Our awards and recognitions received reflect our efforts to create greater value for all our stakeholders.