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FACILITATING THE CONTRIBUTION PROCESS

MANAGING CONTRIBUTIONS

One of KWAP’s primary roles is managing the pension contributions from employers, comprising Statutory Bodies, Local Authorities and Agencies. In discharging this responsibility, we ensure that contributing employers comply with the relevant legislation and regulations through regular compliance and enforcement efforts.

Understanding More About Contribution

Total Contributions

(as per 2021 Annual Report)

0
Contributing Employers
0
Contributing Members

SAFEGUARDING THE PROCESS

Rate of Contribution

​Monthly contributions for permanent employees with pensionable status is 17.5% of the employee’s monthly basic salary.

Compliance & Enforcement

The objective of our compliance and enforcement visits to the contributing employers is to ensure compliance by employers with the provisions under the Statutory and Local Authorities Pensions Act 1980 (Act 239).

Penalty

Employers who fail to remit pension contributions within the prescribed time shall be penalised under Section 8(4) of the Statutory and Local Authorities Pensions Act 1980 (Act 239). Penalties are charged at the rate of 0.5% in respect of each month in default of payment of the amount that remains unpaid.

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