Why does one need to pay Zakat on a pension plan if one does not get access till later?

 Q:  I have recently setup a SI pension plan account where I can manage the investment but the principal and the gains are not available to me till the age of 55. Is the investment value still zakatable in the years leading up to age 55?   الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب   A: […]

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Do I need to pay Zakat on my pension each year or when I start receiving it?

Q: 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 two fold. 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 […]

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What is the Islamic stance on joint tenancy ownership of a property

Q: Are the joint tenancy laws of England (whereby one tenant inherits the other’s share directly on death) valid in Islamic law? What happens if I share a property with my mother- on her passing does her share come to me automatically or do my siblings then gain a share islamically?   الجواب حامدا ومصليا ومسلما […]

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