The Employees Provident Fund (EPF) will open registration for its new retirement savings option, Simpanan Shariah, which will be launched next year, to members this Aug 8.
CEO Datuk Shahril Ridza Ridzuan said EPF has allocated an initial fund size of RM100 billion, which is equivalent to about 15 percent of the entity's total investment asset of RM681.71 billion as at end-March 2016.
"Members who choose to convert their current EPF account, which will now be termed as Simpanan Konvensional, to Simpanan Shariah will need to personally go to any EPF branch with their identification card to verify their thumbprint.
"To be eligible for Simpanan Shariah 2017, members must submit their application by Dec 23, 2016 and subject to the availability of the RM100 billion fund," he said in a statement Monday.
Shahril said the EPF's venture into Islamic investments is not new as more than 45 percent, or RM295 billion, of EPF's total investment assets are already Shariah-compliant.
"Moving forward, we expect to grow our investment in Shariah assets by at least RM25 billion a year on average, or in tandem with the total asset growth in order to maintain a minimum of 45 percent Shariah assets," he added.
In compliance with Shariah principles, the EPF said the dividend rate for Simpanan Shariah will be based on the portfolio performance of Shariah-compliant investments and will not have any guaranteed minimum dividend.
"A Shariah Advisory Committee (SAC) has been formed to oversee all operational, investment and governance aspects of Simpanan Shariah.
"The SAC will also recognise Shariah investment products as regulated or approved by Bank Negara Malaysia and the Securities Commission Malaysia," it said.
The EPF's Simpanan Shariah is a new savings option for members who wish to convert their current conventional EPF savings to one that is managed and invested in accordance with Shariah principles.
Based on the Members' Consultation exercise carried out last year, EPF found that more than 70 percent of the survey respondents agreed that there should be an option to have their retirement savings managed according to Shariah principles.
Bernama
Mon Jun 20 2016
EPF members who want to convert their current EPF account to Simpanan Shariah need to personally go to any EPF branch with their MyKad to verify their thumbprint. - AFP/Files
Pelan Transformasi Air sasar tingkatkan air bersih, liputan sistem kumbahan - Fadillah
Pelan Transformasi Air sasar tingkatkan air bersih, tingkatkan liputan sistem kumbahan - Fadillah
Warga Thailand mengaku tidak bersalah seleweng diesel
Seorang warga Thailand mengaku tidak bersalah di Mahkamah Sesyen Alor Setar atas pertuduhan menyeleweng 322 liter minyak diesel.
Lilitan reben putih tak langgar peraturan - Timbalan Speaker
Ramli berkata, perkara itu juga adalah merupakan keputusannya dan bukan dibuat oleh Yang Dipertua Dewan Rakyat, Tan Sri Johari Abdul.
Kos pampasan tanah fasa 1B proses projek LPB Sabah RM1.2 bilion - Alexander
Anggaran kos pengambilan balik tanah bagi keseluruhan Fasa 1B proses pengambilan tanah dan penilaian pampasan tanah bagi Projek Lebuh Raya Pan Borneo Sabah (LPB Sabah) berjumlah RM1.2 bilion.
KR sedia tambah baik SOP pembinaan lebuhraya
Alaxender berkata kementerian bersedia untuk mendedahkan laporan kajian insiden jika ia melibatkan kemalangan berskala besar dan meragut nyawa.
Reman suspek kes keropok beracun disambung dua hari
Tempoh reman terhadap seorang pemilik kebun disambung selama dua hari, bagi membantu siasatan kematian dua kanak-kanak yang meninggal dunia akibat makan keropok beracun.
KPM alukan pesara guru ajar Bahasa Inggeris
Jelas Fadhlina Sidek pesara-pesara guru telah banyak membantu usaha KPM dalam meningkatkan PdP bahasa Inggeris termasuk melalui Program Highly Immersive Programme Mentor (HIP Mentor).
Tidak perlu lagi kemas kini status COVID-19 dalam MySejahtera - KKM
Jika positif COVID-19 melalui ujian kendiri, pesakit boleh mengunjungi klinik dan hospital berdekatan bagi mendapatkan pengesahan.
Mayat hampir reput dijumpai di rumah usang
Mayat hampir reput ditemui di sebuah rumah usang di Kesang Laut, berdekatan pusat timbang Jabatan Pengangkutan Jalan (JPJ) pada Ahad.
Wanita dakwa dituduh Rafizi fail saman
Seorang wanita memfailkan saman terhadap Menteri Ekonomi, Rafizi Ramli bagi menuntut permohonan maaf secara terbuka berhubung dakwaan bahawa wanita berkenaan ialah isteri kepada bekas menteri yang dikaitkan dengan isu kapal tempur pesisir (LCS).
Bagaimanapun, Rafizi bergantung kepada pembelaan justifikasi berkata bersedia membuktikan kenyataan di mahkamah termasuk perlindungan bersyarat dan ulasan yang saksama terhadap saman fitnah yang difailkan oleh Zainab Mohd Salleh.
Bagaimanapun, Rafizi bergantung kepada pembelaan justifikasi berkata bersedia membuktikan kenyataan di mahkamah termasuk perlindungan bersyarat dan ulasan yang saksama terhadap saman fitnah yang difailkan oleh Zainab Mohd Salleh.
Dividen KWSP: Kenapa dividen Syariah lebih rendah?
Buat pertama kali dalam sejarah, KWSP mengumumkan dua dividen berbeza. Tetapi mengapa dividen Simpanan Konvensional melebihi Simpanan Syariah?