Kuala Lumpur, 7 April 2023 – With the nation’s growing number of pension recipients – which currently stands over 770,000, Kumpulan Wang Persaraan (Diperbadankan) [KWAP] has undertaken a holistic approach to assist current and future pensioners with retirement preparedness through its MyPesara initiatives.

With the tagline “Your Retirement Companion“, 17 physical outreach MyPesara programmes have been planned for 2023. KWAP aims to reach out to current and future pensioners, as well as pension derivative recipients to raise awareness on retirement preparedness and better equip them with knowledge on financial planning, healthcare as a retiree and healthy lifestyle, among others.

KWAP Chief Executive Officer, Nik Amlizan Mohamed, stated that these efforts have been enhanced post pandemic, “Growing the pension fund and processing monthly pension payment on behalf of the Government remains our core responsibility but it is crucial at this point for us to value add and support current and future pensioners to prepare for a happy and sustainable retirement journey.

“In 2022, we managed to reach over 26,000 pensioners and pension derivatives recipients via our outreach programmes, while this year, we target to reach out to 50,000 participants.

“Through our online channels, we also raise awareness on scam activities. We frequently update pensioners on the latest types of scams on not only our social media channels but also through MyPesara mobile application (app) where pensioners and their family members have access to pension related information at their fingertips.”

MyPesara app, which has been downloaded over 307,000 times, provides a personalised account for pensioners and their family members. It aims to encompass the holistic approach to retirement by providing a platform for online customer service and opportunities for online learning on financial, health, and retirement planning.

Deputy Minister of Finance I, Yang Berhormat Datuk Seri Haji Ahmad Haji Maslan was present at KWAP’s office today where he had reiterated the importance of retirement preparedness among the growing pool of pension recipients.

“As announced by Yang Amat Berhormat Prime Minister in the Madani framework, there is a need to establish robust pension programmes given the possible future crises that may occur, as seen from the effects of the COVID-19 pandemic in the world.

“In the realm of retirement, the ripple effects of such crises can be better managed if we continue to strengthen our efforts to assist current and future pensioners in retirement preparedness.

“In this field, KWAP’s efforts are still ongoing, where this year, pensioners can look forward to the two major events under the MyPesara initiatives helmed by KWAP – Karnival MyPesara and Anugerah MyPesara.

“I trust that these two major events will encourage current and future pensioners to reassess their current retirement preparedness and plan for a more sustainable retirement journey”, he stated.

The Anugerah MyPesara is an awards programme which aims to recognise exemplary public sector pensioners who have made significant contribution to society.

The flagship event, Karnival MyPesara will be held in Klang Valley in October this year, where pensioners and their families can enjoy various talks, booths, exhibitions, as well as activities aimed to highlight the six key pillars of retirement: Social, Health, Psychological, Financial, Physical, and Environment.

Current and future pensioners are encouraged to keep a look out for more information and updates on these events through KWAP’s official social media channels on Facebook, Instagram, YouTube, and Linkedln at KWAP Malaysia.

About Kumpulan Wang Persaraan (Diperbadankan)

Kumpulan Wang Persaraan (Diperbadankan) [KWAP] or the Retirement Fund (Incorporated) was established on 1st March 2007 under the Retirement Fund Act 2007 (Act 662) replacing the repealed Pensions Trust Fund Act 1991 (Act 454).

KWAP manages contributions from the federal government and relevant agencies made into the Retirement Fund [Fund] to obtain optimum returns on its investments through sound management and investment of the Fund in equity, fixed income securities, money market instruments, and other forms of investments as permitted under the Retirement Fund Act 2007 (Act 662). The Fund shall be applied towards assisting the Federal Government in financing its pension duties. In 2015, KWAP was officially appointed as an agent of the Federal Government for the purpose of pension payment, gratuity, or other benefits granted under any written law from the Consolidated Fund as agreed between the Federal Government and KWAP.

Visit www.kwap.gov.my for more information.

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