A-G Report: LTAT did not return RM695 mln in govt contribution to Consolidated Fund

KUALA LUMPUR: Lembaga Tabung Angkatan Tentera (LTAT) has not returned government contributions amounting to RM695.05 million to the Consolidated Fund as stated in paragraph 9(3)(C) Act 101, according to the Auditor-General's Report 2021.

The report, which was released today, said that an audit review found that LTAT had instead returned the government's contribution involving 9,542 pension status contributors for 2018 to 2020 to the Retirement Fund (Incorporated), known by its Malay acronym KWAP.

"This government contribution should be returned to the Consolidated Fund as stated in paragraph 9(3)(C) Act 101. It clearly states that contributions must be returned to the Consolidated Fund, which is the account of the federal government," the report said.

The effect of LTAT's failure to return the contribution to the Consolidated Fund had resulted in the federal government's revenue decreasing by RM695.05 million for 2018 to 2020.

The report further noted that the opinion of the panel of lawyers received on Nov 18, 2021, stated that the government contribution paid by LTAT to KWAP was inconsistent with paragraph 9(3)(C) Act 101.

LTAT is responsible for returning the government contribution to the Consolidated Fund, the report stressed.

-- BERNAMA