LTAT TO PAY MASSIVE 12.5 pc DIVIDEND, BONUS TODAY
Hisham says payout is in the form of unit trust for fund’s active members
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 yesterday the payout comprised a six per cent dividend and 6.5 per cent bonus in the form of unit trust 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 (today),” he said after attending the Jualan Sentuhan Rakyat programme at the Defence Ministry here.
Hishammuddin said LTAT’s recorded a net profit of RM667.1 million for FY17 was better than the RM595 million recorded for FY16.
For FY17, LTAT’s total assets increased by 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 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 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 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 have funded scholarships and other welfare projects involving 134,600 serving armed forces personnel, veterans and family members. This amounted to RM416 million. On the Jualan Sentuhan Rakyat programme, Hishammuddin said it was held to ease the burden of ministry personnel in facing the rising costs of living.