We get this question a lot \u2013 particularly since we launched our #wheresmymuslimpension campaign.<\/p>\n
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People are not sure if their pension is actually halal or not.<\/p>\n
So here\u2019s a really really simple guide to help you navigate this.<\/p>\n
Are you in a public sector job?<\/p>\n
Yes<\/strong> \u2013 great your pension is almost certainly halal as it will be a defined benefit (also called final salary) pension. Just double-check with your HR team on this and confirm that this is indeed the type of pension you have. If they tell you you have a defined contribution pension then you need to go to step 2. Otherwise you\u2019re done.<\/p>\n No<\/strong> \u2013 okay read on.<\/p>\n Do you know what pension funds your money is in?<\/p>\n Yes<\/strong> \u2013 okay great. Go to Step 3.<\/p>\n No<\/strong> \u2013 find out. Ask HR. Login to your pension portal. Dig out the papers you got send when you first joined. Do what you have to do.<\/p>\n Does the pension fund your money is in have \u201cislamic\u201d or \u201csharia\u201d in the name?<\/p>\n Yes\u00a0<\/strong> \u2013 Great you have a halal pension. All done.<\/p>\n No<\/strong> \u2013 You probably don\u2019t have a halal pension. Go to Step 4.<\/p>\n Can you log on\/call someone and switch to an Islamic fund?<\/p>\n Yes<\/strong> \u2013 do that.<\/p>\n No\u00a0<\/strong> \u2013 ask HR to add an Islamic fund to the workplace pension. If they agree, great. If not, read on.<\/p>\n This is where the boxing gloves and legalistic emails come out.<\/p>\n You can try first yourself \u2013 tell them that the employer needs to make sure you are properly provided a pension and without an Islamic pension they are doing something against the law. Also, it is contrary to the Equality Act 2010 and a case of indirect discrimination.<\/p>\n We have now paid \u00a310,000 for a top pension barrister QC to issue a legal opinion<\/a>. Print that off and give it to your HR\/employer and tell them that they are legally obligated to make halal pension provisions for you.<\/p>\n For context, the Barrister<\/a> who issued this legal advice is one of the foremost authorities in pensions law in the UK. What he says on this subject has real credibility.<\/p>\n If that legal opinion doesn\u2019t work, drop us a line. We\u2019ll help iA.<\/p>\n Once you have a halal pension, buy some rasmalai and send it to us.<\/p>\nStep 2<\/h2>\n
Step 3<\/h2>\n
Step 4<\/h2>\n
Step 5<\/h2>\n
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Step 6<\/h2>\n
Further reading:<\/h3>\n