EPF Simpanan Syariah (EPF-i) Registration Opens Aug 8

2017-04-12T11:44:43+08:00By |EPF, Retirement|

EPF Simpanan Syariah on track to launch on Jan 1, 2017 w RM100b initial fund size. Applications open 8.8.16
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EPF Simpanan Syariah (EPF-i)

  • Approved after 71% positive respondents to Members Consultation on EPF Scheme Enhancement in April 2015
  • Managed according to syariah principles (Akad Wakalah – Syariah economics)
  • Fully Syariah compliant companies
  • No min profit/dividend guarantee (EPF: min 2.5%)
  • No switching back from EPF-i to EPF
  • EPF Unit Trust investment withdrawal only to Syariah compliant UT
  • Conventional banking not part of EPF-i portfolio

 

Shariah Advisory Committee

Shariah Advisory Committee

 

EPF-i Future Plans

  • RM25b investments per year
  • 45% of overall EPF holdings in EPF-i (55% in EPF)

 

Application

  • Application Date: Aug 8-Dec 23 or until fund size reached
  • Fund size: RM100b (15% of EPF total fund size)
  • Restrictions: No restrictions on race, religion & nationality to apply
  • Must register at EPF counter
  • Bring IC / Passport (non-malaysians)
  • Submit application & verify thumbprint
  • Application status notified by SMS 7 days before effective date (Jan 1, 2017)

 

Applicants Signup

  • 09/08/2016: 41k
  • 12/08/2016: 150k

 

FAQ

  • Q: Do I need to inform my employer?
    No
  • Q: Any difference to EPF Withdrawals?
    No

 

More Info

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