Question ID: 30756
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Slmz Mufti…if a pension is paid out to an employee at the time of retirement and according to statutory law you can only cash in 1/3 of it, while the remaining 2/3 has it be re-invested in a similar fund (money never coming into your hands), what are the zakaat implications on the
a) 1/3 cash pay out
b) not he remaining portion of the reinvested cash
c) on the month income derived from the re-invested cash.
Shukran

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Asked on November 16, 2012 12:02 pm
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a) If you are a Zakaat payee then pay Zakaat once off on it - otherwise if it exceeds the Nisaab and is then with you for the next Islaamic lunar, then you will pay Zakaat thereof.
b) ?No Zakaat on the remaining
c) If invested in Halaal area then Zakaat liable.
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Answered on November 16, 2012 12:02 pm