Pensioners
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Pension Statement
Pensioners or those receiving derivative pensions can print their statements here.
Change of Bank Account
To avoid disruption in pension payment processing, a change of bank account is limited to once every 12 months. Approval regarding a change in bank account is subject to KWAP’s discretion. Each application form needs to be submitted together with a copy of the bank statement.
Click here to Download.
List of Payment Panel Banks
The following is a list of banks that participate in the Pension Payment System:
-
Bank Muamalat (M) Berhad
-
Malayan Banking Berhad (Maybank)
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Bank Simpanan Nasional
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Affin Bank Berhad
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CIMB Bank Berhad
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Bank Islam Malaysia Berhad
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Public Bank Berhad
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Alliance Bank Berhad
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RHB Bank Berhad
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HSBC Bank Malaysia Berhad
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Bank Kerjasama Rakyat (Malaysia) Berhad
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Hong Leong Bank Berhad
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Agro Bank Berhad
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AmBank (M) Berhad (Scheme A payment only)
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United Overseas Bank (M) Berhad (Scheme A payment only)
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Standard Chartered Bank (M) Berhad (Scheme A payment only)
Notes:
The use of CIMB Islamic account for payment under Scheme B is not allowed.
Information update on Marital Status / Children
An update on marital status or children may be made to KWAP by enclosing a copy of the marriage / divorce / birth certificate (where applicable).
PENSION ADJUSTMENT UNDER SISTEM SARAAN PERKHIDMATAN AWAM (SSPA)
Based on the announcement by Y.A.B. the Prime Minister on 16 August 2024 regarding the Public Service Salary System (SSPA), pension adjustments will also be provided based on the final salary of retirees starting from 1 December 2024, in line with the salary adjustments for civil servants that will be implemented by the Government of Malaysia.
This salary adjustment will be carried out in phases, with Phase 1 taking place on 1 December 2024 and Phase 2 on 1 January 2026.
| Phase 1 | Phase 2 |
|---|---|
|
Senior Management Group: 4% Implementing and Management & Professional Groups:
|
Senior Management Group: 3% Implementing and Management & Professional Groups: 7% |
Calculation of Pension Adjustment under SSPA
STEP 1
The calculation of the equivalent final salary for 2024 must be carried out first.
The method for determining the equivalent final salary is as follows:
Implementing and Management & Professional Groups:
- Final Salary/Equivalent + (Final Salary/Equivalent × 8%) if the amount of Final Salary/Equivalent exceeds RM3,000, or
- Final Salary/Equivalent + RM240, if the Final Salary/Equivalent is less than RM3,000.
Senior Management Group:
Final Salary/Equivalent + (Final Salary/Equivalent × 4%)
STEP 2
The pension calculation based on the final salary (Step 1) to determine the new pension amount starting from December 2024 is as follows:
| [1/600 × Final equivalent salary for 2024 × years of service*] + PKKP** |
Note:
* If the length of service exceeds 30 years, the pension is subject to 3/5 or 60% of the final equivalent salary for 2024.
** PKKP only applies to retirement on or before 31st December 2022 and is subject to the decisions and policies of the Government from time to time.
