Assalamoalaikum
I have a small limited company. I want to invest in private pension.
Can someone please advise which option is best?
Are they any financial advisors who can guide?
No such thing as best, but AJBell (Youinvest) is one that IFG seem to like.
(Personally I prefer Hargreaves Lansdowne but they’re not that different!)
Not sure about financial advisors.
Walikum as salam,
Do you mean a pension scheme for your limited company OR a personal private pension scheme?
Assuming you are looking for a personal pension scheme, the reason AJ seems to be popular here is that it appears to be offering the most number of shariah-compliant funds as a DIY option.
you may want to read this thread on Financial Education: Investment TIPS for Absolute Beginners - video 5 talks about SIPPS.
If you do want a readymade solution then I am sure @Abul_Fazal from Wahed maybe able to help.
May Allah guide you.
Jazak Allahu Khair @Zeeshan.
There are many personal pension options available to you as @Zeeshan and @Umar1Khan have mentioned.
Wahed, in partnership with Options UK (a registered master trust provider), offer a SIPP utilising our model portfolios as well as Halal Workplace Pension schemes (HWP) which you may wish to consider. The HWP means that not only can you set up a scheme for yourself but offer to staff in the future as your business grows. You can find further details here:
JazakAllah every one. I have friends who pay in private pension from their company accounts. I am interested in something similar. Is that something Aj bell, hargereaves or wahed do?
How do I set up that
As-salaamu Alaykum @Sarwat
You can set up a self invested personal pension (SIPP) with any of the providers you mentioned. AJ Bell and HL offer a stock brokering service where you pick and choose the investments that you wish to make yourself. Wahed on the other hand offer a managed investment service where you tell us the level of risk you wish to take and we do the rest. Including telling you how much of your income you need to purify each year to ensure your investment income is Halal in your hands.
Once you decide which service is applicable to you and you’ve opened an account, you can set up payments both from your company and from your personal accounts to be invested in to the SIPP.
I hope the above answers your question.
I do this currently with Pension Bee.
Hi Abul,
Can you please elaborate on this - if the funds are shariah-compliant, would their Shariah supervisory board not be doing the purification already? wondering if it further needs purification?
Jazakallah
Zeeshan
As-salaamu Alaykum Zeeshan
Some funds do not do the purification themselves and make it known in the prospectus. This is why Wahed provides the purification reports to ensure that we notify each of our customers if it’s not dealt with by the manager themselves.
good to know - many thanks
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