22,000 pensioners have lost RM850 million in scams so far

 

Deputy finance minister Ahmad Maslan says cooperation among the many parties involved was critical in addressing scams involving pensioners.

KUALA LUMPUR: A total of 22,000 government retirees have fallen victim to scammers, involving losses amounting to RM850 million, says deputy finance minister Ahmad Maslan.

He said the government hoped that the Retirement Fund (Incorporated) (KWAP) will continue to educate and raise awareness among pensioners through its special programme to ensure they do not fall victim to fraudsters.

“Cooperation among various parties is crucial to finding a sustainable and comprehensive solution to tackle this problem.”

Ahmad was speaking at the renewal of a memorandum of understanding and the launch of an integrated system between the public services department (JPA), KWAP and the Public Sector Home Financing Board (LPPSA).

Referring to the system integration, Ahmad said pensioners need not worry about paying their home financing through their pension deductions as all the data required by LPPSA will be updated in the system.

Ahmad also reminded civil servants to know the financial obligations they will face after retirement so that they can plan their finances well.

Meanwhile, LPPSA chief executive officer Farid Nawawi said the integration of systems involving JPA, KWAP and LPPSA would help coordinate data so that each agency has the same pension data. The integration aims to minimise errors, he added. - FMT