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FoR BetteR RetuRns Annual Report 2022 203

notes to the
financial statements
for the year ended 31 december 2022

26. ALLOCATION OF STATUTORY FUNDS

Group and KWAP
31 December 31 December
2022 2021
RM’000 RM’000

at 1 January 27,501,944 27,001,944
add: allocation for current year 500,000 500,000
at 31 december 28,001,944 27,501,944

27. PENSION CONTRIBUTIONS

Group and KWAP
31 December 31 December
2022 2021
Note RM’000 RM’000

contribution from statutory bodies,
local authorities and other agencies a 19,937,844 18,564,748
contribution from government’s share,
gratutities and other deductions b 41,939,775 41,178,029

61,877,619 59,742,777

Note A – Contribution From Statutory Bodies, Local Authorities And Other Agencies
the group and KWap receive monthly contributions for permanent employees with pensionable status from the
respective employers such as statutory bodies, local authorities and other agencies. contributions are based on
17.5% of the basic monthly salary of the employees.

Group and KWAP
Accumulated
Contributions Receipts Balance
2022 RM’000 RM’000 RM’000
statutory bodies 14,867,532 1,117,868 15,985,400
local authorities 3,568,691 250,973 3,819,664
other agencies 136,824 4,488 141,312
18,573,047 1,373,329 19,946,376
less:
repayment of claims (8,299) (233) (8,532)
18,564,748 1,373,096 19,937,844