Pensioner

A pensioner is a person who collects a pension, most commonly because of retirement from the workforce. This is a term typically used in the United Kingdom (along with OAP), Ireland and Australia where someone of pensionable age may also be referred to as an 'old age pensioner'. In the United States, the term retiree is more common, and in New Zealand, the term superannuitant is commonly used.

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Government . Riba . Investment . Pensioner

Is any amount given on fixed time certificates issued by the government for senior citizens and pensioners be considered Riba according to Quran and Ahadees?

Sayyed Mohammad Al-Musawi, Sayyed Mohammad al-Musawi is originally from Iraq and heads up the World Ahlul Bayt Islamic League in London. Other than being involved in various humanitarian projects, he frequently responds to... Answered 2 years ago

If the amount is been invested in lawful business away from unlawful business e.g. alcohol, pork, usury etc, then the income from it will be lawful. Such income can not be fixed by a percentage from the capital, but it must depend on the profit if any.

Fixed amounts given by non Muslims is allowed for the Muslim to receive and utilize in lawful needs and aims.

Wassalam.

50473

Government . Pensioner . Saving

Can an old age pensioner invest in a government run National Saving scheme for pensioners to gain income in their retirement?

Yes it is allowed for every Muslim to invest his money after being sure that money will not be invested in unlawful business i.e. alcohol, interest, etc.

Khums will be applicable on the investment on the date of Khums.

Wassalam.