Najib compares recent performance of KWAP with that of his nine-year tenure as PM

KUALA LUMPUR: Former Prime Minister Datuk Seri Najib Razak said he has never taken out funds from the Retirement Funch Inc (KWAP) during his time as prime minister unlike a subsequent federal administration which admitted it had taken about RM20 billion from KWAP since 2018.

In a post on Facebook, he said the KWAP fund only increased by RM29 billion in the last six years which was below what he achieved when he was prime minister.

"The government confirmed in the Dewan Rakyat yesterday that the government had withdrawn RM20.5 billion from KWAP since 2018 after GE14 to fund government expenses."

He said in the nine years he led the government, he never took out a single cent from KWAP.

"The government also said that the size of the KWAP fund at the end of 2023 is RM169.8 billion. This means that the size of the KWAP fund only increased by RM29 billion in the last six years after my time, as compared to RM88.76 billion recorded between 2008 and 2017," he said.

In comparison, he said the country's KWAP funds prospered only by RM29 billion or 20.6 percent in the six years after Najib, from RM140.8b at the end of 2017 to RM169.8b at the end of 2023.

This however is in contrast to increase of RM88.76 or 170.6 per cent recorded during Najib's nine-year tenure which was from RM52.04 billion at the end of 2008 to RM140.8 billion in 2017.

The post was accompanied by a bar chart showing the fast growing KWAP funds from 2008 to 2017 during Najib's administration, which was represented using a steep upwards arrow as compared to the last six year.

After his premiership ended, the KWAP fund growth seem to have progressed slower with a low gradient climb to just RM169.8bil in total at the end of 2023.

Najib said the figures which indicated a steady increase during his administration also confirms that not a single cent of KWAP funds was stolen or lost under his watch.

He said the growth of KWAP funds became much slower after the 14th General Election, which also is among the reasons why the government today intends to abolish the government pension scheme.

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