A growing pension burden
KUALA LUMPUR (June 23): The Edge weekly in its latest edition says that a civil service pay hike is probably bittersweet to Datuk Wan Kamaruzaman Wan Ahmad, CEO of Retirement Fund Inc (KWAP), tasked with growing the fund meant to take over the government’s burgeoning pension liabilities.
In its cover story, the Edge’s Cindy Yeap and Khairie Hisyam Aliman wrote that every salary increment could negate what little progress KWAP has made in the past 10 years to narrow the gap between its fund size and the government’s RM300 billion-plus pension liability.
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