Retirement Fund (Incorporated) (Malay: Kumpulan Wang Persaraan (Diperbadankan); KWAP) is a statutory body which manages the pension scheme for Malaysia's public employees. KWAP is the investment manager of the Retirement Fund, which is applied towards financing the government's pension liability, and is responsible for the administration and payment of pension to public sector retirees.[1] KWAP is one of three main bodies in Malaysia's pension system, the others being the Employees Provident Fund (for private sector employees) and Armed Forces Fund Board (for military personnel).[1] It is also regarded as one of Malaysia's government-linked investment companies (GLICs).[2][3]
Kumpulan Wang Persaraan (Diperbadankan) Retirement Fund (Incorporated)
Prior to KWAP's establishment, the public pension fund in Malaysia was managed by the Pensions Trust Fund (Malay: Kumpulan Wang Amanah Pencen), whose operations fell under the responsibility of the Accountant General.[4][5] The Pensions Trust Fund grew from an initial government grant of RM500 million in 1991 to RM42 billion in 2007.[4][5] In March 2007, KWAP was established under the Retirement Fund Act and assumed all powers, functions, activities, assets and liabilities of the Pensions Trust Fund.[1][5] In November 2015, KWAP was appointed as agent to the government for overall pension management and payment operation, taking over this role from the Public Services Department's Post Pension Services Division.[1]
In August 2018, KWAP acquires two properties in the United Kingdom from IP Investment Management (HK) Ltd and Maven Capital Partners for RM280 million in order to boost its presence in foreign markets.[6] The fund launches its online app called MyPesara in November 2018 to help retirees to planning their future effectively.[7] In August 2022, KWAP launches the Teras 5 that based on its five main cores as part of its long-term plan to strengthening its basis in facing the future challenges.[8]
^ abSivanandam, Hemananthani (2017-06-06). "Retirement fund set to hit RM500bil in 2050". The Star. Retrieved 2019-01-06.
^ abc"Background". Retirement Fund (Incorporated). Retrieved 2019-01-06.
^"KWAP acquires two UK properties to boost presence in foreign markets". NST Business. New Straits Times. 29 August 2018. Retrieved 19 July 2019.
^Asyraf Roslan (13 November 2018). "Aplikasi MyPesara bantu perancangan persaraan dengan lebih interaktif" (in Malay). Astro Awani. Retrieved 19 July 2019.
^"TERAS 5 perkukuh KWAP hadapi cabaran masa depan". Kosmo!. 5 October 2022. Retrieved 19 July 2023.
^"KWAP pension fund plans to invest more in equities". The Star. 2018-07-18. Retrieved 2019-01-06.
^Toh, Kar Inn (2018-04-24). "RM140bil KWAP retirement fund seeks higher returns". The Star. Retrieved 2019-01-06.
External linksEdit
Official website(in English)
Official website(in Malay)
October 19, 2023
retirement, fund, incorporated, malay, kumpulan, wang, persaraan, diperbadankan, kwap, statutory, body, which, manages, pension, scheme, malaysia, public, employees, kwap, investment, manager, retirement, fund, which, applied, towards, financing, government, p. Retirement Fund Incorporated Malay Kumpulan Wang Persaraan Diperbadankan KWAP is a statutory body which manages the pension scheme for Malaysia s public employees KWAP is the investment manager of the Retirement Fund which is applied towards financing the government s pension liability and is responsible for the administration and payment of pension to public sector retirees 1 KWAP is one of three main bodies in Malaysia s pension system the others being the Employees Provident Fund for private sector employees and Armed Forces Fund Board for military personnel 1 It is also regarded as one of Malaysia s government linked investment companies GLICs 2 3 Kumpulan Wang Persaraan Diperbadankan Retirement Fund Incorporated TypeStatutory bodyIndustryPension fund Investment managementPredecessorPensions Trust Fund Kumpulan Wang Amanah Pencen Founded1 March 2007 16 years ago 2007 03 01 HeadquartersIntegra Tower The IntermarkJalan Tun Razak Kuala Lumpur MalaysiaKey peopleAhmad Badri Mohd Zahir Chairman Tuan Syed Hamadah Othman CEO AUMRM140 8 billion 2017 1 Websitewww wbr kwap wbr gov wbr my wbr en wbr Contents 1 History 2 Operations 3 References 4 External linksHistory EditPrior to KWAP s establishment the public pension fund in Malaysia was managed by the Pensions Trust Fund Malay Kumpulan Wang Amanah Pencen whose operations fell under the responsibility of the Accountant General 4 5 The Pensions Trust Fund grew from an initial government grant of RM500 million in 1991 to RM42 billion in 2007 4 5 In March 2007 KWAP was established under the Retirement Fund Act and assumed all powers functions activities assets and liabilities of the Pensions Trust Fund 1 5 In November 2015 KWAP was appointed as agent to the government for overall pension management and payment operation taking over this role from the Public Services Department s Post Pension Services Division 1 In August 2018 KWAP acquires two properties in the United Kingdom from IP Investment Management HK Ltd and Maven Capital Partners for RM280 million in order to boost its presence in foreign markets 6 The fund launches its online app called MyPesara in November 2018 to help retirees to planning their future effectively 7 In August 2022 KWAP launches the Teras 5 that based on its five main cores as part of its long term plan to strengthening its basis in facing the future challenges 8 Operations EditThe fund receives contributions from the Federal Government of Malaysia statutory bodies and local authorities 1 The contributions are invested by the fund in a mix of equities bonds property private equity and infrastructure with the investment returns used to finance the government s pension liabilities 1 9 10 The fund s Investment Panel determines the fund s investment policy and asset allocation strategy 1 KWAP also operates the Pension Services Department PeSD in Cyberjaya which processes payment of pensions and other benefits to public pensioners 1 References Edit a b c d e f g h i Annual Report 2017 PDF Retirement Fund Incorporated 2017 12 31 Retrieved 2019 01 06 Kamarul Azhar 2018 10 15 KWAP poised for change at the helm The Edge Retrieved 2019 01 06 M sia s seven GLICs doing well Free Malaysia Today 2016 07 21 Retrieved 2019 01 06 a b Sivanandam Hemananthani 2017 06 06 Retirement fund set to hit RM500bil in 2050 The Star Retrieved 2019 01 06 a b c Background Retirement Fund Incorporated Retrieved 2019 01 06 KWAP acquires two UK properties to boost presence in foreign markets NST Business New Straits Times 29 August 2018 Retrieved 19 July 2019 Asyraf Roslan 13 November 2018 Aplikasi MyPesara bantu perancangan persaraan dengan lebih interaktif in Malay Astro Awani Retrieved 19 July 2019 TERAS 5 perkukuh KWAP hadapi cabaran masa depan Kosmo 5 October 2022 Retrieved 19 July 2023 KWAP pension fund plans to invest more in equities The Star 2018 07 18 Retrieved 2019 01 06 Toh Kar Inn 2018 04 24 RM140bil KWAP retirement fund seeks higher returns The Star Retrieved 2019 01 06 External links EditOfficial website in English Official website in Malay Retrieved from https en wikipedia org w index php title Retirement Fund Incorporated amp oldid 1166053585, wikipedia, wiki, book, books, library,
