Beneficiaries of a provident fund
Question
With regards to nominating beneficiaries to a provident fund, do the beneficiaries have to be one’s Islamic heirs, or can I nominate my wife as the sole beneficiary?
Answer
We assume that your query pertains to an involuntary provident fund enforced upon you by your employer. You may nominate the beneficiaries of the fund at your discretion. Hence, if you nominate your wife as the sole beneficiary of the funds, then it is quite in order, even though you may have children and parents who are living. In this case, the funds will be paid to your wife only and will not form part of your estate.
- Answered by
- Mufti Mohammed Desai
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