Salaam.
I have checked the list and I cannot see this question having being asked so apologies if it has.
I switched my pension to a shariah compliant one last year. What do I do with the amount I had accumulated so far? Some of it was interest, and I’m not sure how much of the remaining was halal and how much was haram.
Do I need to repay it? If I can calculate the interest accrued, should I at least repay that? I have only been working for 5 years and will not be able to access the money for around 40 years.
I’m not sure what to do to cleanse the haram I had earned.
Jazakallah
Zara
Wasalam
May Allah bless you.
Once you have estimate roughly how much you think is your halal money (which include yours and your employer’s contributions), donate the rest into charity. What ever it feels reasonable in your heart. It is difficult to track and calculate the interest accrued. I know someone who tried and managed to do it, but it took him 2 years of effort which included contacting all sort of people from different companies.
And Allah knows best!
Wa’alaykum Salaam,
I was in a similar position. I called my previous pension provider, gave them my policy number and I asked them how much myself and my employer contributed towards the pension. Alhamdulillah they gave me the figure. I had the pension amount when I switched to my current sharia compliant pension (email and online account). I’m sure this could also be found out by calling them.
I subtracted mine and my employer contributions from the pension value at the time of switching to sharia pension fund. That gave me the amount I donated to charity.