“About 80% of the funds are invested in the country while the remaining 20% are international investments,” deputy finance minister Ahmad Maslan told reporters at the 2023 KWAP Contributors Forum in Kuala Lumpur.

In a Bernama report, Ahmad also said that 40% of KWAP’s funds are invested in fixed-income securities and private equity each, while the remaining 20% are in the real estate (10%) and public equity (10%) sectors.

KWAP targets its gross fund size to reach RM200 billion in 2025, with an investment return of 7%.

Malaysia’s second-largest pension fund after EPF, KWAP contributed RM3 billion in dividends last year.

Ahmad said the government remained committed to continuing pensions for retirees, despite the increasing burden of operating expenditures, adding that a comprehensive study into civil servants’ salary and pension schemes is currently being conducted.

He added that 32,000 new retirees were recorded every year, with the government spending RM31 billion annually to pay the pensions of more than 900,000 retirees.

Of that number, 768,947 retirees include pension recipients issued under KWAP.