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Opportunities and Challenges in Developing Islamic Pension Funds in Indonesia

ETIKONOMI · Vol. 19 No. 2 (2020) · pp. 311–322

DOI
10.15408/etk.v19i2.16284
ISSN
2461-0771, 1412-8969
Published
2020-10-08
Publisher
Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta
Language
eng

Abstract

Despite the rapid development of the Islamic financial sector in Indonesia, the development of Islamic pension funds is way behind those of the other Islamic financial sectors. This study aims to explore the opportunities and challenges faced by Indonesian Islamic pension funds. Utilizing a qualitative research method, the study conducted Focus Group Discussions with 23 large pension funds spread across five big cities in Indonesia. It was revealed that opportunities and prospects for developing Islamic pension funds in Indonesia are relatively good. However, various internal and external challenges were found, such as a lack of knowledge; the weak commitment of founders; lack of quality human resources; relatively unfavorable tax treatment; limited investment instruments; competition with government pension schemes; and public literacy problems. Therefore, two broad strategies are recommended to develop the Islamic funds, namely the provision of direct/indirect incentives to market players, and literacy programmes to targeted/priority groups. These strategies are expected to encourage and accelerate the growth of Indonesia's Islamic pension fund industry in the future.JEL Classification: H55, H75, J32How to Cite:Kasri, R. A., Haidlir, B. H., Prasetyo, M. B., Aswin, T. A., Rosmanita, F. (2020). Probability of Paying Zakat from Micro Financing Project Return. Etikonomi: Jurnal Ekonomi, 19(2), 311-322. https://doi.org/10.15408/etk.v19i2.16284.

Keywords

Collaboration network of the authors

19 authors · 49 co-authorship links

Hover or tap a name to highlight its co-authors. Double-click to open the author's page.

  • University of Indonesia
  • National University of Malaysia
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
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Co-authorOrganisationJoint articles
Zaafri Ananto HusodoAffiliation unknown2
Wahyu JatmikoAffiliation unknown2
Bambang Shergi LaksmonoUniversity of Indonesia2
A. AzizonAffiliation unknown2
Sigit Sulistyo WibowoAffiliation unknown1
Usman AriefAffiliation unknown1
Maulana Harris MuhajirAffiliation unknown1
Mohamad Sattar RasulNational University of Malaysia1
Budiman Mahmud MusthofaAffiliation unknown1
Diaz PranitaAffiliation unknown1
Masagus M. RidhwanAffiliation unknown1
Md. Bokthiar HasanAffiliation unknown1
Humaira Tahsin RafiaAffiliation unknown1
Gazi Salah UddinAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) http://journal.uinjkt.ac.id/index.php/etikonomi/oai, first harvested 8 Nov 2026, last seen 8 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en">Opportunities and Challenges in Developing Islamic Pension Funds in Indonesia</dc:title>
	<dc:creator xml:lang="en">Kasri, Rahmatina Awaliyah</dc:creator>
	<dc:creator xml:lang="en">Haidlir, Banu Muhammad</dc:creator>
	<dc:creator xml:lang="en">Prasetyo, Muhammad Budi</dc:creator>
	<dc:creator xml:lang="en">Aswin, Tika Arundina</dc:creator>
	<dc:creator xml:lang="en">Rosmanita, Fenny</dc:creator>
	<dc:subject xml:lang="en">Islamic pension fund</dc:subject>
	<dc:subject xml:lang="en">pension fund</dc:subject>
	<dc:subject xml:lang="en">Islamic non-banking institution</dc:subject>
	<dc:subject xml:lang="en">Islamic finance</dc:subject>
	<dc:description xml:lang="en">Despite the rapid development of the Islamic financial sector in Indonesia, the development of Islamic pension funds is way behind those of the other Islamic financial sectors. This study aims to explore the opportunities and challenges faced by Indonesian Islamic pension funds. Utilizing a qualitative research method, the study conducted Focus Group Discussions with 23 large pension funds spread across five big cities in Indonesia. It was revealed that opportunities and prospects for developing Islamic pension funds in Indonesia are relatively good. However, various internal and external challenges were found, such as a lack of knowledge; the weak commitment of founders; lack of quality human resources; relatively unfavorable tax treatment; limited investment instruments; competition with government pension schemes; and public literacy problems.  Therefore, two broad strategies are recommended to develop the Islamic funds, namely the provision of direct/indirect incentives to market players, and literacy programmes to targeted/priority groups. These strategies are expected to encourage and accelerate the growth of Indonesia's Islamic pension fund industry in the future.JEL Classification: H55, H75, J32How to Cite:Kasri, R. A., Haidlir, B. H., Prasetyo, M. B., Aswin, T. A., Rosmanita, F. (2020). Probability of Paying Zakat from Micro Financing Project Return. Etikonomi: Jurnal Ekonomi, 19(2), 311-322. https://doi.org/10.15408/etk.v19i2.16284.</dc:description>
	<dc:publisher xml:lang="en">Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta</dc:publisher>
	<dc:date>2020-10-08</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.uinjkt.ac.id/index.php/etikonomi/article/view/16284</dc:identifier>
	<dc:identifier>10.15408/etk.v19i2.16284</dc:identifier>
	<dc:source xml:lang="en">ETIKONOMI; Vol. 19 No. 2 (2020); 311-322</dc:source>
	<dc:source>2461-0771</dc:source>
	<dc:source>1412-8969</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.uinjkt.ac.id/index.php/etikonomi/article/view/16284/pdf</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2020 ETIKONOMI</dc:rights>
</oai_dc:dc>