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ENRICHING tHE FUtURE ENRICHING NAtIoNAL PRoGRESS ENRICHING StAKEHoLDER VALUE ENRICHING SUStAINABLE IMPACt

SOCIAL AND RELAtIONSHIP CAPItAL (CONtINuED)

top ten Contributors

No. Employer RM (million)
1. Universiti Teknologi Mara 175.76

2. Majlis Amanah Rakyat 91.30
3. Universiti Kebangsaan Malaysia 76.75
4. Universiti Putra Malaysia 51.68
5. Universiti Malaya 46.00
6. Dewan Bandaraya Kuala Lumpur 45.25

7. Universiti Teknologi Malaysia 44.44
8. Hospital Universiti Sains Malaysia 38.98
9. Universiti Sains Malaysia 35.31
10. Pusat Perubatan Universiti Malaya 30.51

PENSION MANAGEMENt

Service Level Agreement Performance Score Change of Pension Payment Mode

KWAP has been entrusted with the role of serving as the We have also conducted a proactive exercise to change
government’s agent to administer Pension Management pensioners’ pension payment mode from Scheme B to
Services. The performance of KWAP is closely monitored Scheme A. This exercise aims to enhance efficiency in the
in accordance with the Service Level Agreement (SLA) pension payment processing and reducing the number of
established between the government of Malaysia and expired pension cases.
KWAP. Amongst other provisions, the SLA delineates the
responsibilities regarding pension disbursements, benefits Under Scheme A, pension payments are directly credited
in the event of death during service or retirement, derivative to the pensioners’ or recipients’ bank accounts unlike
benefits, funeral assistance and related claims. The SLA Scheme B, which require pensioners or recipients to
includes a minimum score threshold of 95% which will physically visit their respective bank counters monthly to
be monitored by the Public Service Department (PSD) claim their pension payment. Failure to claim the pension
monthly. Notably, we have consistently demonstrated for three consecutive months will result in the payment
outstanding performance by consistently surpassing expiring or lapsing. Our system had showed that the total
the minimum required performance score, achieving an number of expired pensions at the beginning of the year
average weighted score of 99.4% in 2023 as compared to
98.4% in 2022. was 4,698 cases, amounting to RM12.58 million.
This exercise targeted specific groups of pensioners,
Furthermore, we remain steadfast in our commitment to
continually enhance the efficiency of pension payments and including disabled children, pension recipients aged below
improve services for stakeholders, including pensioners 18 years old and joint bank account users which were
and their beneficiaries. To this end, we have implemented carried out in two phases. As a result, a total of 5,281
several initiatives resulting in enhanced functionality and pension payment recipients were successfully changed to
improved accessibility to services. Scheme A in 2023.

72 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) i INtEGRAtED REPoRt 2023