Zakat calculation on dormant pension

Everyday Islamic Finance
#1

Asalaamu alaykum

I recently became aware that zakat is due on pensions and am keen to understand how to calculate my outstanding to be paid zakat in light of my personal situation.

I had a private pension that I paid into for a few years from around 1999 onwards after which I stopped. I don’t have any historical statements except a recent statement showing the current value of the fund from the company that now handles my pension after the original company was bought out.

How do I go about calculating (or estimating) the zakat I should have been paying?

Would really appreciate any help or advice.

#2

Wasalam

May Allah bless you.
My opinion is that if one did not know that zakat was due on the pension in the past, then he/she do not have to work out the missed zakat payment. At the most, he/she could just work out the current value of the pot and pay a 2.5% one of payment to cover all the previous years.
Of course going forward he/she will calculate the zakat on the current pension fund every year.

And Allah knows best!