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Apparently in the UK, work based pension schemes will become obligatory in 2014. I have done a little research in this and it is possible to choose a company you want to invest in, allowing you to choose a zero interest based pension in a halaal company.

That is all well and good. My question is, how does zakaat work on this?

Obviously you will not have the money until you retire, does that mean zakaat is exempt on pensions until you actually get the pension in your hands if you're alive when you retire?

Sunni view with authentic texts would be preferred if available.

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1 Answer 1

Alsalam alaikum.

I am not expert but i'll answer from what i know,

Zakaat should be taken from money you already have for 1 year

if you spend or add more money to them ( using the money ) you should not do zakaat

so i'm holding my money in bank let say $500 for 1 year .. i didn't add or subtract any of the amount in all the year . i will do zakaat on that.

i hope that helps

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