KUALA LUMPUR – The Retirement Fund Inc’s (KWAP) fund size is expected to hit $500 billion by 2050, growing between eight to 10 per cent a year, Datuk Seri Najib Tun Razak said.
The Prime Minister said since its establishment one decade ago, KWAP has recorded commendable achievements and performance.
He said KWAP’s fund size grew 200 per cent from RM42 billion in 2007 to RM125 billion in December 2016.
“Of the $125 billion, RM53.6 billion resulted from increased in investment income which in turn will be used to fund pension liabilities.
“This is KWAP’s contribution to the nation and the retirees,” he said at KWAP’s 10th anniversary celebration and opening of its new main office at Menara KWAP Integra, The Intermark, here today. – BERNAMA