Massive dividend, bonus payout for LTAT contributors
NST TEAM
New Straits Times22 March 2018
KUALA LUMPUR: The Armed Forces Superannuation Fund Board (LTAT) will pay out a massive 12.5 per cent dividend and bonus for the financial year ending Dec 31, 2017 (FY17).
Defence Minister Datuk Seri Hishammuddin Hussein said today the payout comprised a six per cent dividend and 6.5 per cent special bonus in the form of unit trusts for the fund’s active members.
“I am pleased to announce that LTAT will be paying dividend and bonus for FY17 at the rate of 12.5 per cent to contributing members, and this will be credited tomorrow,” he said after attending the Jualan Sentuhan Rakyat programme (PJSR) at the Defence Ministry in Jalan Padang Tembak.
Hishammuddin said LTAT’s recorded nett profit of RM667.1 million for FY17 was better than the RM595 million recorded for FY16.
For FY17, LTAT’s total assets increased 4.2 per cent to RM10 billion from RM9.6 billion in FY16, while members’ contributions stood at RM8.8 billion in FY17 compared with RM8.6 billion the previous year.
On LTAT’s performance, Hishammuddin said the fund had provided various payouts, incentives and contributions to its members.
“Last year, LTAT processed 8,139 withdrawal applications from members upon completion of their service with the armed forces, amounting to RM1.2 billion.
“In addition, RM20.1 million was paid out to 2,401 members who were eligible to purchase a house or land under the LTAT Housing Withdrawal Scheme.”
A total of RM6 million was paid out to 183 members or next-of-kin under the Death and Disablement Benefits Scheme.
To date, LTAT and its group of companies as well as LTAT Foundation has funded scholarships and various other welfare projects involving 134,600 serving armed forces personnel, veterans and family members. This amounted to RM416 million.
Meanwhile, on the PJSR, Hishammuddin said the one-off programme was held to help ease the burden of ministry personnel in facing costs of living. Nor Ain Mohamed Radhi, Meor Riduwan Meor Ahmad and Hafidzul Hilmi Mohd Noor © New Straits Times
