Do I need to pay Zakat on my pension each year or when I start receiving it ?
Fatawa Question
Do I need to pay Zakat on my pension each year or when I start receiving it at the age of 55 ? The pension is twofold. 1. My employer contributes £ 300 per month towards my chosen pension provider. 2. My annual bonus, rather than paying 40 % tax on it, is paid to my pension provider, St James wealth management. They have 3 tiers of investments, low, medium and high risk. I have my funds in medium risk and with non-pork, gambling alcohol related industries. In essence, the pension contributions go to a series of pension investors, who then invest the funds across numerous funds such as GlaxoSmithKlein, Vodafone, Tesco etc.
Fatwa
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Publisher
al-Qalam Shariah Scholar Panel
Publication Date
2014-09-16
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-732605
American Psychological Association (APA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2014-09-16. Do I need to pay Zakat on my pension each year or when I start receiving it ?. . Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-732605
Modern Language Association (MLA)
al-Qalam Shariah Scholar Panel (Manchester, England). Do I need to pay Zakat on my pension each year or when I start receiving it ?. Manchester England : al-Qalam Shariah Scholar Panel. 2014-09-16.
https://search.emarefa.net/detail/BIM-732605
American Medical Association (AMA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2014-09-16. Do I need to pay Zakat on my pension each year or when I start receiving it ?. Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-732605
