What is the ruling on a pension salary paid monthly to the bank in exchange for receiving a pension salary after sixty [years of age]?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
The described scenario is a form of prohibited commercial insurance, for several reasons, including that it is a type of gambling () and a loan with interest (riba).
Therefore, it is not permissible to enter into this contract. Whoever has entered into it must repent to Allah, annul it, and take back only what they paid. If they were given more, they must dispose of the excess by spending it on the welfare of Muslims.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/99772
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 99772
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy