1. The different situations are summarized below.

2.Where the person is employed in the public or private sector, and membership of a pension or provident fund forms part of the contract of employment, with the monthly contributions being deducted from his or her salary at source: Zakah is only payable,  in the year of receipt when the employee receives possession or control of the lump sum benefit. In such event, the net amount so received, after payment of prescribed taxes, will be added to the aggregate value of the Zakaatable assets( gold and silver + cash + stock + sound debts)  and Zakah must be payable on the remaining unexpended amount thereof, on the relevant Zakah valuation date, at the end of the year.No Zakah is payable for preceding years. و انما تجب الزكاة فيما يبقى عند نهاية الحول بضمه الى الموجودات الزكوية الاخرى و تزكيته
  

3. In this situation, the contribution so deducted at source, is not deemed to be owned by the employee, who has, prior to the deduction, only a valid claim thereto. .لا يقال انه ملكه الموءجر قبل قبضها فله المطالبة بها : ) البحرالراءق

4.  In the case of a self-employed person, different considerations apply. In this case, if the person voluntarily subscribes to a retirement annuity fund, Zakah is payable each year on the Fund value which must be added to the aggregate value of the Zakaatable assets as at the relevant valuation date. يوم وجوب الزكاة The reason is that this voluntary arrangement is analogous to a low risk fixed deposit, or, bond, for a predetermined period, the interest being impermissible. The fact that the funds are not accessible until the member reaches the age of 55, or otherwise, has no Shari consequence for Zakah purposes, in this context. هذا بمنزلة السندات او ودائع لاجل

5. If the net lump-sum proceeds at maturity, due to a member, upon retirement, are received or controlled by the beneficiary, and are then  invested, so as to provide a living annuity, then,   in such event, the member must pay Zakah each year on the capital value of the investment. In addition, any unexpended balance remaining on his or her periodic income drawdown will be added to his aggregate Zakaatable assets on his Zakah valuation date, at the end of the year. و يزكى ما يبقى بضمه إلى الموجودات الزكوية الاخرى يوم وجوب الزكاة عند نهاية الحول

And Allah Knows Best
M S Omar
8 May 2021