The Armed Forces Fund Board (also commonly known by its

Malay Malay may refer to: Languages * Malay language or Bahasa Melayu, a major Austronesian language spoken in Indonesia, Malaysia, Brunei and Singapore ** History of the Malay language, the Malay language from the 4th to the 14th century ** Indonesi ...

name Lembaga Tabung Angkatan Tentera and LTAT in short) is a

statutory body A statutory body or statutory authority is a body set up by law (statute) that is authorised to implement certain legislation on behalf of the relevant country or state, sometimes by being empowered or delegated to set rules (for example reg ...

which manages the

pension fund A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and priva ...

for certain members of the

Malaysian Armed Forces The Malaysian Armed Forces (: MAF; ms, Angkatan Tentera Malaysia; Jawi: ), are the armed forces of Malaysia, consists of three branches; the Malaysian Army, Royal Malaysian Navy and the Royal Malaysian Air Force. The number of MAF active pers ...

. LTAT was established in August 1972 by the Armed Forces Fund Act (also known as the Tabung Angkatan Tentera Act). The fund is considered the smallest among Malaysian government-linked investment companies, and owns controlling stakes in several public listed companies in Malaysia, including

Boustead Holdings Boustead Holdings Berhad (BHB) () is a Malaysian corporation with over 16,000 employees across more than 80 listed and non-listed companies in Malaysia, Indonesia and the United Kingdom. It is an affiliate of the Malaysian military. BHB was foun ...

and Affin Holdings. It is overseen by the

Ministry of Defence {{unsourced, date=February 2021 A ministry of defence or defense (see spelling differences), also known as a department of defence or defense, is an often-used name for the part of a government responsible for matters of defence, found in states ...

. For

officers An officer is a person who has a position of authority in a hierarchical organization. The term derives from Old French ''oficier'' "officer, official" (early 14c., Modern French ''officier''), from Medieval Latin ''officiarius'' "an officer," fro ...

, participation in the fund is voluntary, with no contribution towards their accounts by the Government of Malaysia. Armed forces members of other ranks (compulsory contributors) are required to contribute a portion of their monthly salary to LTAT, with the government contributing as employer. A compulsory non-pensionable contributor receives his/her retirement benefit in the form of a lump sum payment when he dies (next-of-kin), retires or is discharged from service, or reaches the age of 50. A compulsory pensionable contributor receives his/her retirement benefit on his/her death (next-of-kin), retirement or reaching the age of 50 in the form of a lump sum payment of his/her contribution, while the government-contributed portion is transferred to

Retirement Fund (Incorporated) Retirement Fund (Incorporated) ( ms, Kumpulan Wang Persaraan (Diperbadankan); KWAP) is a statutory body which manages the pension scheme for Malaysia's public employees. KWAP is the investment manager of the Retirement Fund, which is applied towar ...

(the civil service pension fund) which then administers monthly pension payments. Voluntary members may withdraw their contributions at any time. The fund had RM10 billion in assets under management at the end of 2017.

References

External links

* {{authority control Government-owned companies of Malaysia Age pension systems Social security in Malaysia Investment in Malaysia 1972 establishments in Malaysia Ministry of Defence (Malaysia) Public pension funds