Do I have to calculate Zakat on my CPP? If so, do I calculate it every year?
CPP is a mandatory Pension Plan from the Govt. In a mandatory Pension Plan, Zakat is not wajib every year, rather only when one takes possession of the funds. Once the funds come into possession of an individual, then at that time, these funds will be regarded as zakatable assets.
Moreover, one will not calculate Zakat on previous years on such a mandatory Pension Plan.