TATA KELOLA DAN KEPATUHAN SYARIAH DALAM DANA PENSIUN LEMBAGA KEUANGAN: STUDI KOMPARATIF DPLK SYARIAH BANK MUAMALAT DAN DPLK AXA MANDIRI

Abstract

Sharia pension funds are a long-term financial instrument that plays a strategic role in supporting people's economic protection during retirement. In Indonesia, pension programs based on sharia principles are not only available in the form of full sharia pension funds, but also through the sale of sharia investment packages by Financial Institution Pension Funds (DPLK). This article aims to qualitatively analyze the comparative governance and sharia compliance of DPLK Syariah Bank Muamalat and DPLK AXA Mandiri. The method used is descriptive qualitative with a comparative study approach based on document analysis. The data used are secondary data from Financial Services Authority regulations (OJK), DSN-MUI Fatwas, official institutional publications, DPLK product pages, and relevant scientific research publications. The results of the study indicate that DPLK Syariah Muamalat represents a full sharia DPLK model that utilizes sharia principles as the institutional and operational basis of the pension program. Meanwhile, DPLK AXA Mandiri represents a conventional DPLK model that provides sharia investment packages within the framework of a Defined Contribution Pension Program. The main differences between the two are their institutional status, the scope of application of Sharia principles, their supervisory structure, and the position of Sharia investment packages within their respective governance systems. Nevertheless, both prioritize Sharia compliance as a key aspect through the existence of a Sharia Supervisory Board (DPS), the use of Sharia investment instruments, and the professional management of participant funds.