Q: As an employee I contribute monthly towards the company’s retirement fund. The company also contributes on my behalf. Unfortunately, this is per company rules and I cannot opt to not contribute. The company also contributes towards a Group Life scheme which means that in the case of my demise, my beneficiaries will receive X amount in addition to the total value sitting in my fund.
My question is : Who should I put down as my beneficiaries. I have a wife and 3 children, both parents are still alive.
A: We do not have the details of how your retirement fund works so it is difficult for us to explain who could be your beneficiaries.
And Allah Ta’ala (الله تعالى) knows best.
Answered by:
Mufti Ebrahim Salejee (Isipingo Beach)