Workplace Pensions: Islam

(asked on 8th July 2021) - View Source

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, if she will make it her policy to encourage employers to offer halal-compliant pensions to employees.


Answered by
Guy Opperman Portrait
Guy Opperman
Parliamentary Under-Secretary (Department for Transport)
This question was answered on 13th July 2021

The Pensions Regulator provides guidance for employers on matters they should consider when selecting a pension scheme to satisfy their automatic enrolment duties. As part of this guidance employers are invited to consider whether the scheme offers investment options that suit the needs of their staff, such as funds that comply with Sharia law. As with all official guidance, this is kept under review and updated where appropriate.

Since 2019, the Government has required trustees of occupational pension schemes to set out their policy publicly on how they take members’ views into account. Many have provided feedback mechanisms; some have created new fund options as a result of member demand.

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