Is the CARE pension scheme offered by network rail permissible ?
Fatawa Question
I understand you have answered questions regarding CARE pension schemes and regard it as permissible. However the option (from network rail) I have been given states that I contribute 7 % of my pensionable salary to earn a unit of pension which is 1 / 60 of the salary. The company states that employee contributions cover 40 % of the cost of benefits and the employer covers the remaining 60 %. They also state that contributions are invested in investment funds and they are the responsibility of the trustee who decides where they are invested and monitors the performance. Would this pension still be permissible ?
Fatwa
Click hereto view more
Publisher
al-Qalam Shariah Scholar Panel
Publication Date
2016-07-10
Country of Publication
United Kingdom
Main Subjects
Economics & Business Administration
Financial and Accounting Sciences
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-727075
American Psychological Association (APA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2016-07-10. Is the CARE pension scheme offered by network rail permissible ?. . Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-727075
Modern Language Association (MLA)
al-Qalam Shariah Scholar Panel (Manchester, England). Is the CARE pension scheme offered by network rail permissible ?. Manchester England : al-Qalam Shariah Scholar Panel. 2016-07-10.
https://search.emarefa.net/detail/BIM-727075
American Medical Association (AMA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2016-07-10. Is the CARE pension scheme offered by network rail permissible ?. Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-727075
