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ENRICHING STAKEHOLDER ASPIRATIONS ENRICHING PERFORMANCE ENRICHING THE COMMUNITY ENRICHING ACCOUNTABILITY & INTEGRITY ENRICHING RESILIENCE & SUSTAINABLE GROWTH

notes to tHe financial statements

for the year ended 31 december 2023

28. PENSiON CONTRiBUTiONS

Group and KWAP
31 December 31 December
2023 2022
Note RM’000 RM’000

contribution from statutory bodies,
local authorities and other agencies a 21,378,035 19,937,844
contribution from government’s share,
gratutities and other deductions b 42,690,909 41,939,775
64,068,944 61,877,619

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
RM’000 RM’000 RM’000

2023
statutory bodies 15,985,400 1,172,135 17,157,535
local authorities 3,819,664 263,581 4,083,245
other agencies 141,312 4,762 146,074
19,946,376 1,440,478 21,386,854
less:
repayment of claims (8,532) (287) (8,819)
19,937,844 1,440,191 21,378,035

2022
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

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