Hejaz Islamic Super Is Closing (2026): Deadlines, Salaam and Where to Move

Hejaz Islamic Super and Pension, the Hejaz Islamic Division of its superannuation fund, is closing. According to the Significant Event Notice summarised on Salaam's member information page, the division stopped accepting contributions on 30 September 2026, an initial partial payment to each member's new fund is expected around 10 October 2026, members must give Hejaz their new fund details by 12 October 2026 or have their balance sent to the ATO, and the remainder is expected by the end of February 2027. Hejaz's own super page separately warns of delays to rollovers and redemptions, citing a notice dated 20 August 2026. The one decision that cannot wait is where your money goes next: Salaam, a self-managed fund, or a conventional fund's ethical option.

This guide sets out the published dates, what Hejaz disclosed about its fees and returns before the closure, what Salaam publishes and does not, how insurance is affected, and the order in which to act. Everything stated as fact below was read on the two providers' own websites or on APRA's on 8 September 2026; everything else is marked as a question to ask.

What the published deadlines say, and what happens if you miss them

The dates below are taken from Salaam's page for Hejaz members, which states that it is based on the Significant Event Notice sent to Hejaz members, and from Hejaz's own super page. Salaam is careful to say that neither it nor the trustee of its fund is affiliated with Hejaz Financial Services, AMG Super or Equity Trustees, and that members may choose any eligible complying fund. Read your own notice first; these are the published milestones as of 8 September 2026.

Missing 12 October is not fatal, but it is costly in two ways. First, your balance moves to ATO-held super, which you can later redirect through ATO online services in myGov, but which Salaam's page points out may no longer be Shariah compliant while it sits there. Second, any insurance attached to the Hejaz account may end when the account closes or when the balance can no longer pay premiums. Hejaz's super page lists three covers, illness recovery, critical care and loss of income, so members relying on any of them need replacement cover arranged before the account empties, not after.

What Hejaz published about its fund before the closure

For members deciding whether Salaam or another fund is a like-for-like replacement, Hejaz's published record is the benchmark. Its three options and target allocations were Growth at 75% growth and 25% defensive, Balanced at 60/40, and Conservative at 35/65. Its performance page, as of 31 May 2026 and with an inception date of 8 August 2023, showed one-year returns of 12.50% for Growth, 11.15% for Balanced and 8.78% for Conservative, and annualised since-inception returns of 10.77%, 9.70% and 7.77%, all stated net of investment, administration and transaction costs and taxes. The pension versions showed 15.11%, 12.58% and 9.95% over one year.

Fees, as published on 21 February 2025, were 1% of assets for Growth, 1.06% for Balanced and 1.15% for Conservative in investment fees and costs, plus transaction costs of 0.05%, 0.04% and 0.02%, plus administration fees of $65 a year per account and an estimated 0.49% of balance. On a $100,000 Growth balance that is roughly $1,000 investment, $50 transaction, $65 fixed and about $490 administration, or around $1,600 a year before any insurance premium. Those are the figures to put next to a replacement fund's PDS. The Hejaz provider profile records the group's wider products, which are unaffected by the super division's closure as far as its site states.

Salaam: what it is, who runs it, and what it publishes

Salaam is the rebranded Crescent Wealth. Its FAQ states that on 1 June 2024 Crescent Wealth and the whole Crescent group rebranded as Salaam, and that Salaam superannuation is now a division of the Russell Investments Master Trust, with Total Risk Management Pty Limited (ABN 62 008 644 353, AFSL 238790) as trustee, State Street as independent custodian, and the fund identified by USI TRM0001AU and ABN 89 384 753 567. Salaam says it has not been acquired by Russell Investments. Shariah oversight is by Dar Al Sharia, which Salaam describes as part of the Dubai Islamic Bank group, with screening to AAOIFI standards and research from IdealRatings; Salaam says it is a member of AAOIFI and of the RFI Foundation and that its investments are audited annually.

Three investment options are offered, Defensive, Balanced and Growth, and the pension product is iQ Retirement with three Shariah-compliant options inside it. Salaam's performance snapshot for the financial year to 30 June 2026 shows 10.59% for Growth, 8.57% for Balanced and 6.81% for Defensive, calculated after tax and investment management expenses but before administration fees, which makes it not directly comparable to Hejaz's net figures. Fees are not tabulated on Salaam's site: the FAQ says investment fees vary by option and directs members to the PDS, so request the PDS and read the fees and costs section before comparing it with the Hejaz table above. Switching between options is free, and the site states there are no fees to switch.

Salaam is also candid about history. Its FAQ acknowledges that a number of the previous Crescent Wealth Super Fund options were deemed to have failed APRA's annual performance test, and argues that the benchmarks do not account for Shariah constraints such as the prohibition on bank shares. APRA's 2026 test assessed 50 MySuper products and 497 trustee-directed products; whether Salaam's current options were assessed and how they fared is something to check on APRA's published results, because a fund that fails two consecutive tests is barred from accepting new members. Our Hejaz versus Salaam comparison was written before the closure and remains the fuller side-by-side on investment approach.

The alternatives if you do not choose Salaam

Salaam is now the only APRA-regulated fund in Australia marketing Shariah-compliant investment options across the whole balance, so a member who wants that outcome without running their own fund has a list of one. The alternatives are structural rather than brand-based.

• A self-managed super fund, which lets you hold halal ETFs, sukuk funds and property directly; our halal SMSF guide sets out the cost floor and the trustee duties.
• A conventional fund with an ethical or sustainable option, accepting that such options screen for ESG rather than Shariah and will hold banks and interest-bearing assets; our guide Is my super halal? explains the purification maths.
• A conventional fund's cash or term deposit option as a temporary parking place, which is interest-bearing and should be treated as a short holding with the interest disposed of, not a destination.
• Salaam itself, which is the only option that keeps the whole balance under a named Shariah board without SMSF administration.

Whatever you choose, the mechanics are the same and the retirement hub collects them: open the new account, give your employer the fund's compliance letter and a completed choice-of-fund form, then instruct the new fund to request the rollover from Hejaz or lodge the transfer instruction with Hejaz directly before 12 October. Salaam's page notes that Hejaz remains responsible for processing the payments and setting their timing and value. Our step-by-step guide to switching halal super covers the forms, the common errors on choice-of-fund paperwork, and how to check the ATO's record of your accounts in myGov.

Insurance: the part that does not transfer automatically

Insurance inside super is attached to the account, not to you. Hejaz lists illness recovery, critical care and loss of income cover; Salaam's page warns that cover connected to a Hejaz account may end when the account closes or if the remaining balance cannot pay premiums, and tells members to check existing cover and confirm replacement cover before it ends. For a member with a family and a home finance contract, income protection is the cover whose loss hurts most, and our guide to income protection for Australian Muslims sets out the halal and necessity-based options available outside super.

Two practical points. Default cover in a new fund usually starts only once a contribution arrives and may be subject to age and balance conditions, so there can be a gap between the Hejaz cover ending and the new cover starting; find out the new fund's start conditions before you let the Hejaz balance fall. And if you have a pre-existing condition, the new fund's default cover may exclude it where the Hejaz cover did not, which is a reason to ask about transfer terms rather than simply applying fresh.

The decision

If your priority is keeping the whole balance under Shariah oversight and you do not want to run a fund, open a Salaam account now, redirect contributions today, and lodge the rollover instruction with Hejaz before 12 October; request the PDS and compare its fee section against the Hejaz figures above so you know what you are paying for the continuity. If your balance is large enough to justify an SMSF and you are prepared to act as trustee, the closure is the moment to set one up, but do not let the SMSF establishment timeline push you past 12 October; nominate Salaam or another complying fund as the interim receiver and move later. If you are between jobs or your balance is small, the priority is simply to avoid the ATO transfer and to secure replacement insurance before the Hejaz cover lapses. For every member, the first action is the same: log in to the Hejaz member portal, read your own notice, and confirm what percentage of your balance arrives in the first payment. Our 2026 halal superannuation guide gives the broader picture of a market that has just gone from two funds to one. Facts checked against hejazfs.com.au, salaam.com.au, apra.gov.au on 8 September 2026.

Frequently asked questions

Is Hejaz Islamic Super really closing?

Yes, according to the Significant Event Notice summarised on Salaam's page for Hejaz members, which says the Hejaz Islamic Division stopped accepting contributions on 30 September 2026 and will pay balances out in two transfers, in October 2026 and by the end of February 2027. Hejaz's own super page refers to a notice dated 20 August 2026 and to delays in rollovers and redemptions. Read your own notice for the authoritative terms.

What happens if I miss the 12 October 2026 deadline?

Your Hejaz balance will be transferred to the ATO as ATO-held super. It is not lost; you can nominate a fund to receive it through ATO online services in myGov. But while it sits with the ATO it is not invested in a Shariah-compliant option, and any insurance attached to your Hejaz account will have ended.

Is Salaam the same as Crescent Wealth?

Yes. Salaam's FAQ states that on 1 June 2024 Crescent Wealth and the whole Crescent group rebranded as Salaam, with Salaam superannuation becoming a division of the Russell Investments Master Trust under trustee Total Risk Management. Salaam says it was not acquired by Russell Investments and that it, not Russell, remains the certifier of Shariah compliance.

Is Salaam affiliated with Hejaz?

No. Salaam states on its Hejaz member page that neither Salaam nor its trustee is affiliated with Hejaz Financial Services, AMG Super or Equity Trustees, and that its information about the closure is based on the Significant Event Notice sent to Hejaz members. Hejaz members may choose any eligible complying super fund.

What fees does Salaam Super charge?

Salaam does not publish a fee table on its website; its FAQ says investment fees vary by option and directs members to the Product Disclosure Statement. Switching between its Defensive, Balanced and Growth options is free. By contrast Hejaz published investment fees of 1% to 1.15% plus $65 a year and about 0.49% in administration fees as of February 2025.

Will my insurance move to the new fund?

No. Insurance inside super is attached to the account. Salaam's page warns that cover connected to a Hejaz account may end when the account closes or if the balance cannot pay premiums. Check your Hejaz cover, ask the new fund when its default cover starts and what it excludes, and arrange replacement cover before the Hejaz balance is paid out.