Asalāmu ʿalaykum wa-raḥmatu -llāhi wa-barakātuh
I am hoping you can advise me about zakat on my pension. I didn’t realise I had to pay zakat on my pension until recently, I always thought because I don’t have access to the money zakat was not due.
I am in the LGPS pension scheme, both me and my employer contribute 6.8%. I have been in this scheme for more than 10 years.
How would I calculate the zakat on the pension, would I calculate this on a yearly basis from the date I entered the scheme or can I just pay the zakat in the current amount in the pot?