EPF set to start RM100bil Islamic retirement plan

EPF Chief Executive Officer Datuk Shahril Ridza Ridzuan

KUALA LUMPUR: The Employees Provident Fund (EPF) expects almost a quarter of its members to migrate to an Islamic retirement plan in its first year alone.

The EPF, a state-owned vehicle that manages US$178bil of assets including London’s Battersea Power Station project, aims to open the syariah-compliant plan in January 2017 and is targeting an initial size of as much as RM100bil, chief executive officer Datuk Shahril Ridza Ridzuan said in an interview.