The Statutory Actuarial Valuation of the Fund as at 31^st December 2024 revealed that the Fund recorded a surplus which translated to a funding level of 111.3%, compared to the previous statutory valuation of 2021, which revealed a funding level of 50.79%. This is the third actuarial surplus resulting in a funding level above 100%, recorded by the Fund from 1991. Previously, the Fund recorded 187% and 103% funding levels for the 1991 – 1995 and the 2010 – 2012 reviews, respectively. An interim valuation as at 31^st December 2023 revealed a funding level of 110.8%.

KPTF AWARDS A 3% PENSION INCREASE

• Based on the Interim Actuarial Valuation Report as at 31^st December 2023, a pension increase for the Members at a rate of 3% was awarded, effective                  1^st January 2024 
• The Trustees remain committed to protecting the value of the Members’ pension and ensuring the long-term sustainability of the Fund.