The Retirement Fund (Incorporated) (KWAP) said it is on track to achieve its RM200 billion gross fund size target by 2025 despite expectations of various challenges in 2023.
Chief executive officer Nik Amlizan Mohamed said that KWAP’s current gross fund size amounted to more than RM175 billion.
Nik Amlizan told reporters this during a visit by Deputy Finance Minister I Datuk Seri Ahmad Maslan to the retirement fund here today.
Chief investment officer Hazman Hilmi Sallahuddin said KWAP will remain aggressive in its investment deployment this year.
“Generally, the market has been very tough this year. We are quite positive about the opening of China and then suddenly the banking crisis emerged.
“So, we foresee it’s going to be a challenging year but having said that we are optimistic about the second half of this year,” he said, adding that this will not affect KWAP’s 2023 investment strategy.
“We wish the market will improve. We were quite aggressive in terms of investment last year, and we foresee the same this year,” he noted.
Meanwhile, Ahmad Maslan said KWAP will heighten its preparedness programmes under the MyPesara initiatives.
Currently, there are 770,000 recipients under KWAP, with 73 per cent pensioners and 27 per cent being beneficiaries who receive a derivative pension.
KWAP has lined up 17 physical outreach MyPesara programmes this year to reach out to current and future recipients to raise awareness on financial and healthcare planning.
Ahmad Maslan said scam cases among pensioners are growing and there is a need to address this accordingly.
In 2022, KWAP manages 26,000 pensioners and derivative recipients via its outreach programmes. It targets to reach out to about 50,000 participants this year.
