Zakaat on a retirement fund
Question
I have a retirement annuity. Do I discharge Zakaat on the capital amount or do I discharge on the maturity amount?
Answer
Zakaat will be paid on the capital contribution since the rest is interest. And interest is supposed to be given in charity to some deserving person without the niyyat of thawaab.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Ebrahim Salejee (Isipingo Beach)
Fatawa SA is an independent, read-only index of fatawa already published by Mufti Online — Madrasah Ta'leemuddeen. It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.