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You
are here:
 Contributions > FAQs on Contributions
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"KWAP achieved net ROI and TWRR of
7.34% and 8.88%
respectively in 2010"
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If you cannot find an answer to your question please contact us. |
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Who should contribute?
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All statutory bodies, local authorities and agencies with employees of pensionable status shall contribute to KWAP. |
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Who is an employer?
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An employer is either a statutory body, local authority or agency with pensionable employees. |
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When should an employer start paying its contributions?
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An employer is required to pay pension contributions for its pensionable employees upon the award of the pension status by the Public Service Department. |
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When is the due date of payment of pension contributions?
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The due date of payment of pension contribution is the last day of the following month.
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What happens if an employer fails to pay its monthly contributions on time?
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An employer is subject to a penalty at a rate of 0.5% of the contribution amount for each month the contribution amount remains unpaid. |
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What is the rate of contributions?
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The rate of contribution is 17.5% of the employees basic salaries.
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What are the documents required for the registration of employers?
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Documents required for registration of employers are as follows :
- Application letter by the employer
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What are the documents required for the registration of members?
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Documents required for the registration of members are as follows :
- Application letter by the employer
- Member Registration Form (Form CP1)
- A copy of Approval Letter from Public Service Department confirming the pensionable status.
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Who are KWAP’s members?
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Pensionable employees of Statutory Bodies, Local Authorities and Agencies.
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Does KWAP send out annual contribution statement to the contributors?
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No, KWAP does not send out annual contribution statements to the contributing employers
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