The Fund is a defined contribution fund, where the level of the investment returns of the assets in the Fund has a direct influence on the benefits that are payable to members at withdrawal and retirement. Members are thus carrying the full investment risk, which means that they are exposed to the risk associated with fluctuations in the investment market.
You may therefore decide on how you want your Share of Fund and future contributions to be invested based on your intended retirement date rather than the age you have attained. After all, you know best what your needs and circumstances are. If you have reached age 55, or have less than 10 years to your intended retirement and you wish to invest more conservatively, you now have the option to move to the Conservative Profile.
In addition, if you have reached the age of 60, or have less than 5 years to your intended retirement you have the option to switch to a Capital Protection Portfolio. The individual investment choice of the Fund allows you to choose the investment portfolio that suits your needs.
- The default option is the Growth Portfolio. All members are automatically invested in this portfolio unless they make an election to the contrary.
- The Conservative Portfolio was designed for Members who have reached age 55, or with less than 10 years to their intended retirement.
- The Capital Protection Portfolio was designed for Members who have reached age 60, or with less than 5 years to their intended retirement.
- The Shari’ah Portfolio was designed for those Members who subscribe to the laws of Shari’ah.