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At its core, KWSP functions as a defined-contribution fund. It requires a percentage of an employee's monthly wage to be deducted and matched by an employer contribution. These funds are deposited into individual accounts, providing a safety net that ensures workers have a lump-sum payment or monthly retirement income upon reaching age 55 or 60. This system effectively addresses the "myopia" of human spending habits, ensuring long-term financial security through systematic accumulation.

Below is a structured essay focused on the , as it is a major global social security institution often studied in economics and social sciences. If you meant the scholarship program, please let me know! At its core, KWSP functions as a defined-contribution fund

KWSP plays a dual role in Malaysia’s development: At its core