Sharia Retirement (Non-Interest) Fund VI
The Non-Interest Fund is created in compliance with the provisions of Islamic Commercial Jurisprudence and other established non-interest principles, as approved by the Financial Regulation Advisory Council of Experts (FRACE) or any other body constituted by the Central Bank of Nigeria and the Securities and Exchange Commission from time to time.
The Non-Interest Fund offers a viable alternative to the conventional interest-based financial instruments for pension funds investment. The Fund is separated into two funds for Active RSA holders and Retirees.
RSA holders in Fund I, II, III, and retirees in Fund IV are eligible to move their RSA contributions to the Non-Interest Fund (Fund VI) by making a formal request to their PFA in line with the provisions of the RSA Multi-fund Implementation Guidelines and Section 7.6 of the investment regulation dealing with transfers between fund types within a PFA.