The Islamic Law Perspective of Universitas Muhammadiyah Surakarta Pension Fund Management

Pension fund is one of the non-bank financial institutions that manages and implements program to generate retirement benefits. Pension fund is one of potential resources of fund which operation can be based on either conventional or Islamic principle. This research will focus on the type of contrac...

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Main Author: Huda, Ikhwanul
Format: UMS Journal (OJS)
Language:eng
Published: Muhammadiyah University Press 2019
Subjects:
Online Access:https://journals.ums.ac.id/index.php/jisel/article/view/7664
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author Huda, Ikhwanul
author_facet Huda, Ikhwanul
author_sort Huda, Ikhwanul
collection OJS
description Pension fund is one of the non-bank financial institutions that manages and implements program to generate retirement benefits. Pension fund is one of potential resources of fund which operation can be based on either conventional or Islamic principle. This research will focus on the type of contracts used by Universitas Muhammadiyah Surakarta (UMS) Pension Fund whether its operation conforms the requirements of shariah princple or not. This research aims to know, elaborate and evaluate the conformity of shariah principle in the UMS Pension Fund operation. The type of research carried out here is qualitative with the descriptive evaluative approach. The data is obtained through observation, documentation and interview. The result of the research shows that the contracts used in managing the fund by UMS Pension Fund are muḍārabah, wakalah, ijārah and hibah. Muḍārabah contract is used between the pension fund and the participants as well as between pension fund and investee. Wakalah contract is used between the employer which is UMS in this case and the pension fund. Meanwhile, hibah contract is used between employer and participants.
format UMS Journal (OJS)
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institution Universitas Muhammadiyah Surakarta
language eng
publishDate 2019
publisher Muhammadiyah University Press
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spelling oai:ojs2.journals.ums.ac.id:article-7664 The Islamic Law Perspective of Universitas Muhammadiyah Surakarta Pension Fund Management Huda, Ikhwanul Management; Pension Fund; Islamic Law. Pension fund is one of the non-bank financial institutions that manages and implements program to generate retirement benefits. Pension fund is one of potential resources of fund which operation can be based on either conventional or Islamic principle. This research will focus on the type of contracts used by Universitas Muhammadiyah Surakarta (UMS) Pension Fund whether its operation conforms the requirements of shariah princple or not. This research aims to know, elaborate and evaluate the conformity of shariah principle in the UMS Pension Fund operation. The type of research carried out here is qualitative with the descriptive evaluative approach. The data is obtained through observation, documentation and interview. The result of the research shows that the contracts used in managing the fund by UMS Pension Fund are muḍārabah, wakalah, ijārah and hibah. Muḍārabah contract is used between the pension fund and the participants as well as between pension fund and investee. Wakalah contract is used between the employer which is UMS in this case and the pension fund. Meanwhile, hibah contract is used between employer and participants. Muhammadiyah University Press 2019-02-27 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://journals.ums.ac.id/index.php/jisel/article/view/7664 10.23917/jisel.v2i1.7664 Journal of Islamic Economic Laws; Vol 2, No 1: January 2019; 60-87 2655-9617 2655-9609 eng https://journals.ums.ac.id/index.php/jisel/article/view/7664/4476 Copyright (c) 2019 Journal of Islamic Economic Laws https://creativecommons.org/licenses/by/4.0
spellingShingle Management; Pension Fund; Islamic Law.
Huda, Ikhwanul
The Islamic Law Perspective of Universitas Muhammadiyah Surakarta Pension Fund Management
title The Islamic Law Perspective of Universitas Muhammadiyah Surakarta Pension Fund Management
title_full The Islamic Law Perspective of Universitas Muhammadiyah Surakarta Pension Fund Management
title_fullStr The Islamic Law Perspective of Universitas Muhammadiyah Surakarta Pension Fund Management
title_full_unstemmed The Islamic Law Perspective of Universitas Muhammadiyah Surakarta Pension Fund Management
title_short The Islamic Law Perspective of Universitas Muhammadiyah Surakarta Pension Fund Management
title_sort islamic law perspective of universitas muhammadiyah surakarta pension fund management
topic Management; Pension Fund; Islamic Law.
topic_facet Management; Pension Fund; Islamic Law.
url https://journals.ums.ac.id/index.php/jisel/article/view/7664
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