Workplace pensions

A Sharia compliant pension scheme that meets the criteria for automatic enrolment

If you are an employer in the United Kingdom, you are required to automatically enrol your employees in a workplace pension scheme.

Unlike most conventional pension schemes available in the UK, those which are accredited by Al Rayan Bank guarantee not to involve interest or to invest in any activity which is prohibited under Islam.

Al Rayan Bank works with Carey Pensions to provide The Islamic Pension Trust - a Sharia compliant pension scheme that meets the criteria for automatic enrolment. Unlike conventional auto-enrolment pension schemes, the Islamic Pension Trust guarantees that no income or investment growth is obtained through the payment of interest or unethical business activities prohibited in Islam, such as pornography, gambling, speculation and tobacco.

The Islamic Pension Trust is accredited as Sharia compliant by an independent Sharia Supervisory Committee consisting of eminent scholars in Islamic finance and Sharia.

Before you choose a workplace pension provider, you should seek advice from an Independent Financial Advisor (IFA) who will help you to choose the most suitable scheme for your needs. Al Rayan Bank can put you in touch with an IFA who is experienced in Sharia compliant investments if required.

Features & benefits

  • Eligible for auto-enrolment

  • Administered by Carey Pensions

  • Investment managed by SMARTfund Administration Ltd

About Carey Pensions

The Islamic Pension Trust is provided by Carey Pensions, a long-established, specialist pensions administration and trustee company, which offers a range of pensions products and has won awards for its customer service provision.

Find out more

If you’d like to find out more about the Islamic Trust please contact Carey Pensions on 0800 408 6407

Further reading

The following leaflets should be read:

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