Kumpulan Wang Persaraan (Diperbadankan) (KWAP) or the Retirement Fund (Incorporated) was established on 1 March 2007 under the Retirement Fund Act 2007 (Act 662) replacing the repealed Pensions Trust Fund Act 1991 (Act 454). It manages the contributions of civil servants and is supervised by the Finance Minister, just like KWSP / EPF. However, KWAP is a much more active PPF, with more thought behind the investment and allocation process, a qualified investment pool and more risk appetite.