THE ANALYSIS OF SHARIA PENSION FUND MANAGEMENT ACCORDING TO FIQIH MUAMALAT (CASE STUDY ON MUHAMMADIYAH SHARIA PENSION FUND)

Abstract

In the past 5 years, pension fund institution tend to decrease, it can be seen from 2014 to 2018 a decrease of 36 pension fund from 267 pension funds to 232 pension funds at this time. However, when viewed from the perspective of participation, the total number of Pension Fund participants has increased from 4.455.712 people in 2017 to 4.635.074 people in 2018 or increased by 4.03%. It can be concluded that more people are aware of the importance of pension funds for welfare in their old age. Indonesia is a country with a majority Muslim population, this situation triggers the needs of the community for the presence of sharia – based pension funds. The purpose of this research is to know the management of Sharia pension fund in Muhammadiyah Sharia pension fund and to know the management of Sharia pension fund according to Fiqih Muamalat on Muhammadiyah Sharia pension fund. This type of research is qualitative research, data source used is primary data with direct research method in the form of an interview with investment director and participation of Muhammadiyah Sharia Pension Fund. In addition, researchers also use secondary data derived from writing materials directly related to the pension fund. The data collection methods used are interviews and documentation. The result of this study is the contribution obtained from the contribution of participants and employer dues, where the participants were deducted by 5% of the monthly salary on every 15th of each month. If the employer is experiencing delays in depositing dues after 2.5 months it will be charged ta'zir fund. Most of the agreement used is in accordance with the provisions of Fiqh Muamalat, but there is a contract between employers and participants who are not appropriate due to the lack of participant trust about the object represented by this will affect the legal requirements of the Agreement between the two parties, if there is no belief will cause discrepancies in this agreement. And also in the Mudharabah occurs a disability due to the management of funds in the Mudharabah Contract is allocated to the public creditor Bank which is conventional.