KUALA LUMPUR: A total of RM59.03 billion of the initial RM100 billion fund allocated for Simpanan Shariah 2017 have been snapped up by 635,037 Employee Provident Fund (EPF) members.
These contributors, with the majority, at 99.41 per cent, being Muslim members, switched to Simpanan Shariah as of Dec 23.
“We anticipated that at least half of the initial RM100 billion fund would be taken up and we are truly encouraged by the latest statistics. For Simpanan Shariah 2018, we have allocated RM50 billion as a further injection,” said EPF Chief Executive Officer Datuk Shahril Ridza Ridzuan.
He added that the EPF is on a good track of growing its investment in Shariah assets.
“About 45 per cent of EPF’s total investment assets are already Shariah-compliant and we expect to grow these assets by at least RM25 billion a year on average”, he said.
Simpanan Shariah was introduced in August 2016 as an option for members who wish to convert their current conventional EPF savings to one that is managed and invested in accordance with the Shariah principles.
Members who wish to switch to Simpanan Shariah 2018 may do so before 24 Dec 2017.
For more information on Simpanan Shariah, please call the EPF Contact Management Centre at 03 8922 6000 or visit the Simpanan Shariah microsite via the EPF website at http://www.kwsp.gov.my/shariah/index.html.