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Calculating Zakaat on Pension Fund Withdrawal When Leaving Employer

Answered as per Hanafi Fiqh by Muftionline.co.za

Q: I will be leaving my employer and would like to know how to calculate the zakaat on my pension fund withdrawal. I have worked at the current place for 4-5 years. Should I calculte zakaat on the value as it is on my last day or do I need to go back, work out the values on each year and then calculate zakaat on each year?

Bismillaah

A: You will pay zakaat for the last year only.

And Allah Ta’ala (الله تعالى) knows best.

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)


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This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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