The Armed Forces Fund Board (LTAT) has declared a dividend rate of 4.1 percent for 2021.
Prime Minister Datuk Seri Ismail Sabri Yaakob, when announcing this today, said this was the highest dividend rate declared since the government changed hands in 2018.
He said this was the result of the commitment and determination shown by the Defence Ministry, the Malaysian Armed Forces (ATM), LTAT, and all stakeholders. He also stated that during the previous administration of Pakatan Harapan, the dividend declared was low.
The dividend payouts will be made immediately and as for performance, the LTAT recorded an increase of RM512.3 million in revenue in 2021 compared to RM341.1 million in 2020.
The PM has also proposed an amendment to the contribution format with a 2 prong system, first a flexibility option whereby contributors can choose to increase the share by more than 10 percent, while the second option allows them to choose to continue contributing with LTAT even after the end of service.
Adding this will enable contributors to benefit the returns and have more funds for their retirement.