The Important of Islamic Retirement Planning in Malaysia

Abstract

This paper aims to discuss the important of Islamic Retirement Planning in Malaysia. As a part of Islamic wealth management, Islamic retirement planning can be considered as still new in Malaysia. The introduction of Simpanan Shariah, which the pioneer hariahcompliant funds by Malaysian Employees Provident Fund (EPF), has embarked a new journey for Islamic retirement planning in Malaysia. As this country is very prominent in Islamic Banking and Finance throughout the world, the demand for Shariah-compliant retirement fund is expected. Muslims retiree now can ensure that their retirement income can fulfill the retirement objectives and also free from riba. Moreover, the readiness and existing Islamic equity market in Malaysia as well as global equity market becomes an important factor that would dictate the future path of Malaysian’s Islamic retirement industry.