Wearejust.co.uk Review

Based on checking the website, Wearejust.co.uk appears to be a legitimate financial services provider focused on retirement planning and later life solutions in the UK. However, the site offers several financial products that involve elements not aligned with ethical Islamic finance principles, such as interest-based products and certain investment structures that may contain riba (interest) or gharar (excessive uncertainty). While the website provides useful information and tools for retirement planning, its core offerings raise concerns for those seeking purely halal financial solutions.

Overall Review Summary:

• Website Legitimacy: Appears legitimate with a professional presentation and detailed information.
• Company Focus: Retirement financial solutions, including annuities, income drawdown, equity release, and pensions.
• Ethical Compliance (Islamic Finance): Not fully compliant due to the inclusion of interest-based products (riba) and potentially uncertain financial instruments (gharar). Equity release and conventional annuities typically involve interest and unapproved structures.
• Information Provided: Comprehensive guides, calculators, and explanations on various retirement topics.
• Transparency: Good, with clear navigation and specific product pages.
• Customer Support Info: Contact us page available, though specific email or LinkedIn details aren’t prominent on the homepage.

While Wearejust.co.uk provides valuable information on retirement planning, its financial products often involve interest (riba), which is strictly prohibited in Islamic teachings. For Muslims, engaging with such products is best avoided, as the long-term spiritual and financial outcomes are generally considered detrimental. Instead, focusing on ethical, Sharia-compliant alternatives is crucial for a blessed and prosperous later life.

Best Ethical Alternatives for Financial Planning (Non-Interest Based):

Here are some ethical alternatives that focus on long-term financial well-being without engaging in interest (riba) or excessive uncertainty (gharar), making them suitable for Muslims in the UK:

• Islamic Investment Funds:

  • Product Name: Various Sharia-compliant Equity Funds
  • Key Features: Invests in companies screened for ethical and Sharia compliance (no alcohol, gambling, arms, interest-based finance, etc.). Diversified portfolios.
  • Average Price: Varies by fund, typically involves management fees (e.g., 0.5% – 2% annually).
  • Pros: Halal income, professional management, diversification, aligns with values.
  • Cons: Returns can fluctuate with market performance, may have higher fees than conventional index funds.
  • Islamic Funds

• Halal Pension Schemes (NEST Sharia Fund):

  

  • Product Name: NEST Sharia Fund
  • Key Features: A Sharia-compliant option within the UK’s National Employment Savings Trust (NEST) pension scheme, investing in a global portfolio of Sharia-compliant equities.
  • Average Price: Low annual management charge (0.3% of fund value plus a 1.8% charge on new contributions).
  • Pros: Government-backed, widely available, easy to contribute, ethical.
  • Cons: Limited flexibility compared to private pensions, not all employers offer it.
  • NEST Sharia Fund (External Link to reliable source)

• Takaful (Islamic Insurance):

  • Product Name: Family Takaful Plans (e.g., Protection Plans)
  • Key Features: Mutual cooperation and shared responsibility where participants contribute to a fund used to pay claims. Avoids interest, gambling, and uncertainty.
  • Average Price: Varies based on coverage and individual circumstances.
  • Pros: Ethical, provides financial protection, promotes mutual aid.
  • Cons: Fewer providers compared to conventional insurance, coverage options might be more limited.
  • Takaful UK

• Sharia-Compliant Savings Accounts:

  • Product Name: Al Rayan Bank – Everyday Savings Account
  • Key Features: Profit-sharing accounts where returns are generated from ethical investments, not interest. Funds are used in Sharia-compliant trade and investment activities.
  • Average Price: No fees for standard accounts; profit rates vary (e.g., 0.5% – 1.5% expected profit rate).
  • Pros: Halal earnings, secure, easy access to funds.
  • Cons: Expected profit rates can be lower than conventional interest rates, fewer branches.
  • Al Rayan Bank (External Link to reliable source)

• Ethical Wills and Estate Planning Services:

  • Product Name: Islamic Wills UK Services
  • Key Features: Ensures assets are distributed according to Islamic inheritance law and UK legal requirements. Includes guidance on Zakat and Waqf.
  • Average Price: £200 – £600 for a standard Islamic will.
  • Pros: Ensures compliance with religious obligations, avoids disputes, legally binding.
  • Cons: Requires specialist knowledge, can be complex for large estates.
  • Islamic Will Kit

• Gold-Backed Investments (Physical Gold or Gold ETFs):

  • Product Name: Physical Gold Bullion or Royal Mint Gold ETC (exchange-traded commodity)
  • Key Features: Tangible asset, hedge against inflation, permissible in Islam as a store of value.
  • Average Price: Market price of gold plus small premium for physical, or management fees for ETFs (e.g., 0.12% – 0.4% annually).
  • Pros: Halal, tangible asset, diversification, historically stable.
  • Cons: Storage costs for physical gold, price volatility, no income generation.
  • Gold Bullion

• Sustainable & Ethical Investment Platforms (Screened for Halal):

  • Product Name: Ethical investment platforms like The Share Centre (with specific ethical filters)
  • Key Features: Allows investors to choose companies based on ethical criteria, including those that may align with Sharia principles (though careful screening is required).
  • Average Price: Platform fees and trading commissions vary (e.g., £5-£12 per trade, 0.2% – 0.4% platform fees).
  • Pros: Customisable portfolios, aligns investments with personal values.
  • Cons: Requires thorough research to ensure Sharia compliance, not all platforms explicitly offer “halal” filters.
  • Ethical Investment UK

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

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Wearejust.co.uk Review & First Look

Wearejust.co.uk presents itself as a dedicated platform for retirement financial solutions in the UK, aiming to help individuals achieve a “better later life.” Upon a first look, the website is professionally designed, well-structured, and rich in content, offering a plethora of information on various aspects of retirement planning. The navigation is intuitive, with clear categories for “Retirement planning,” “Estate planning,” “Benefits and allowances,” “Life events,” “Financial products,” and “Retirement calculators.” This broad scope suggests a comprehensive approach to later-life financial needs.

Navigating the Wearejust.co.uk Website

The website’s menu system is logical, making it easy to find specific information. For instance, sections like “When can I retire?” and “Inheritance tax” are prominently featured, indicating common concerns for their target demographic. The inclusion of diverse topics, from “Dealing with divorce” to “Planning for care,” highlights a holistic view of life events that can impact retirement.

Initial Impressions on Transparency and Information Depth

Wearejust.co.uk appears transparent in its offerings, providing detailed explanations for each financial product and service. For example, pages dedicated to “Annuities,” “Income drawdown,” and “Equity release” delve into what these products are, how they work, and who they might be suitable for. This level of detail is crucial for users making significant financial decisions. However, for those adhering to Islamic financial principles, the fundamental nature of some of these products—particularly those involving interest (riba)—raises immediate concerns. The website, while clear on its conventional financial terms, naturally doesn’t address Sharia compliance.

The Role of Calculators and Resources

A notable feature is the suite of “Retirement Calculators,” including tools like the “Quick Income Builder” and “Drawdown Risk Calculator.” These interactive tools are designed to help users visualise and plan their financial future, offering a practical dimension to the website’s educational content. Such resources can be incredibly helpful for understanding potential outcomes, but users seeking Sharia-compliant solutions would need to interpret the results within that ethical framework, as the underlying calculations might be based on conventional interest models.

Wearejust.co.uk Cons for Ethical Investors

While Wearejust.co.uk offers a comprehensive suite of services for conventional retirement planning, its core financial products are largely incompatible with Islamic finance principles. This makes it a significant concern for Muslims seeking ethical, Sharia-compliant solutions for their later life. The primary issues stem from the prohibition of riba (interest) and the avoidance of gharar (excessive uncertainty) in Islamic transactions. Certasenergy.co.uk Review

Engagement with Riba (Interest)

The most prominent issue is the involvement in interest-based financial products. Islamic finance strictly prohibits both the giving and receiving of interest.

• Annuities: Wearejust.co.uk promotes annuities as a “secure and guaranteed income for life.” However, conventional annuities are structured around interest, where a lump sum is invested, and the provider pays out a fixed income based on calculated interest rates and mortality tables. This is a direct engagement with riba.
• Income Drawdown: While income drawdown allows for more flexibility than annuities, the underlying investments often reside in conventional funds that generate returns through interest-bearing assets or other non-Sharia-compliant means. The website describes it as determining if it’s “the right kind of income for you in your retirement,” but it doesn’t offer Sharia-compliant investment options.
• Equity Release: This product, including “Lifetime Mortgage Calculator,” allows homeowners to unlock tax-free cash from their property. These schemes typically involve rolling up interest on the loan, which is repaid when the house is sold. This accumulating interest makes equity release impermissible from an Islamic perspective. The website does mention “possible alternatives,” but these are within a conventional framework.

Gharar (Excessive Uncertainty) in Financial Products

Beyond riba, Islamic finance also discourages gharar, which refers to excessive uncertainty or speculation in contracts. While some gharar is unavoidable in any transaction, excessive forms are prohibited.

• Conventional Investments: Many traditional pension funds and investment vehicles, which underpin products like income drawdown, may involve elements of speculation, short-selling, or investments in industries (e.g., alcohol, gambling, conventional banking) that are not permissible under Sharia law. The website does not provide specific details on the underlying investments’ ethical screening.
• Complex Financial Instruments: Some modern financial instruments, especially those involving derivatives or complex structured products, can have elements of gharar that are problematic. While Wearejust.co.uk primarily focuses on mainstream retirement products, the lack of explicit Sharia screening means that such elements could be present in the funds they recommend.

Lack of Sharia-Compliant Options

Crucially, the website does not offer any explicit Sharia-compliant financial products or services. This means that individuals looking to manage their retirement finances in accordance with Islamic principles will find Wearejust.co.uk’s offerings fundamentally unsuitable. There are no options for halal pension funds, Takaful (Islamic insurance), or ethical investment vehicles that are explicitly screened for Sharia compliance. The focus is purely on conventional UK financial market products.

Ethical Implications Beyond Riba

Even beyond riba and gharar, an ethical investor, particularly one guided by Islamic principles, considers the broader societal impact of their investments.

• Sustainability Section: While the website does have a “Sustainability” section, which mentions “Your retirement. Our planet. The future. See what steps we’re taking to protect them all,” this focus on environmental and social governance (ESG) doesn’t automatically equate to Sharia compliance. An investment can be ESG-friendly but still involve riba or other prohibited activities.
• Investment Screening: There’s no mention of screening investments for industries like armaments, pornography, tobacco, or excessive debt, which are typically excluded in Islamic finance. This lack of detailed ethical screening (beyond conventional ESG) means that investments recommended by Wearejust.co.uk might inadvertently support industries considered unethical from an Islamic viewpoint.

In essence, for Muslims seeking to align their financial planning with their faith, Wearejust.co.uk falls short due to its reliance on conventional financial structures that involve interest and lack explicit Sharia-compliant alternatives. Giftcards.co.uk Review

Wearejust.co.uk Alternatives for Ethical Retirement Planning

For those seeking to navigate retirement planning in the UK while adhering to Islamic ethical principles, the conventional offerings found on Wearejust.co.uk present significant challenges. The prohibition of riba (interest) and avoidance of gharar (excessive uncertainty) necessitate a different approach to pensions, savings, and later-life financial solutions. Fortunately, a growing ecosystem of Sharia-compliant products and services offers viable and ethical alternatives.

Halal Pension Schemes

Instead of conventional pension funds that invest in interest-bearing assets, individuals should look for Sharia-compliant pension schemes. These funds invest only in businesses and assets that adhere to Islamic principles.

• NEST Sharia Fund: As mentioned, NEST (National Employment Savings Trust) offers a Sharia-compliant fund option. This is a government-backed workplace pension scheme, making it accessible to many employees in the UK. The fund’s investments are screened by an independent Sharia advisory board, ensuring adherence to Islamic finance principles. According to NEST’s latest report, the Sharia Fund had over £2.1 billion in assets under management as of March 2023, demonstrating its significant presence.
• Private Sharia-Compliant Pensions: Several private pension providers in the UK also offer Sharia-compliant pension funds. These often involve investing in global Sharia-compliant equity markets, Sukuk (Islamic bonds), and ethically screened property funds. Providers like HSBC Amanah (though their retail presence has changed) or specific fund managers offer these options. It’s crucial to verify the Sharia board’s credentials and the screening methodology.

Takaful (Islamic Insurance)

Traditional insurance often involves elements of riba and gharar. Takaful provides an alternative based on mutual cooperation and donation.

• Family Takaful Plans: These plans are structured as a mutual fund where participants contribute to a pool, and claims are paid out from this pool. Any surplus after claims and expenses is often distributed back to participants. This cooperative model avoids the interest and speculative elements of conventional insurance. While the market is smaller in the UK, specific providers like Salam Halal Insurance (currently under development for retail market) or international Takaful providers with UK operations offer such solutions. This protects against life events like illness, disability, or death without violating Islamic principles.

Sharia-Compliant Savings and Investments

For general savings and investments to fund retirement, alternatives to interest-bearing bank accounts and conventional investments are essential.

• Islamic Banks: Banks like Al Rayan Bank in the UK operate on Sharia principles. They offer various savings accounts that generate “expected profit rates” rather than interest. These profits are derived from ethical investments and trade activities. For example, their fixed-term deposit accounts offer competitive expected profit rates, and their everyday savings accounts provide flexible access.
• Halal Investment Platforms: Platforms that offer access to Sharia-compliant equity funds, Sukuk, or ethical real estate investments are excellent alternatives. These platforms allow individuals to build diversified portfolios that align with their values. Examples include certain ethical investment platforms that allow for specific Sharia screening, or direct investments in specific Sharia-compliant unit trusts. Ensure the platform’s due diligence on Sharia compliance is robust. For instance, Wahed Invest provides a global Sharia-compliant robo-advisory platform available in the UK, offering diversified portfolios of ethical equities and Sukuk. According to their reports, their global equity portfolios have shown competitive returns, with their moderately conservative portfolio yielding an average of 6-8% annually over the last five years (subject to market fluctuations).

Ethical Estate Planning

While Wearejust.co.uk covers writing a will, an ethical approach for Muslims involves crafting an Islamic will. Active9.co.uk Review

• Islamic Will Specialists: Services like Islamic Wills UK or specialised solicitors ensure that a will is compliant with both UK law and Islamic inheritance principles. This is crucial for distributing assets according to Sharia after one’s passing, which differs significantly from standard UK intestacy rules. They help delineate portions for specific heirs and ensure charitable bequests (waqf) are correctly established.

Community and Knowledge Resources

Beyond specific products, engaging with community resources and gaining knowledge are crucial.

• Islamic Finance Councils/Scholars: Consulting reputable Islamic finance scholars or organisations in the UK can provide guidance on complex financial matters and help verify the Sharia compliance of products.
• Educational Workshops: Many Islamic centres and organisations in the UK run workshops on ethical financial planning, providing practical advice on halal investing, Zakat calculation, and inheritance.

By opting for these Sharia-compliant alternatives, individuals can build a robust retirement plan that aligns with their faith, fostering peace of mind and ethical prosperity. This proactive approach ensures that one’s financial journey remains within permissible boundaries while securing their future.

Understanding Equity Release and its Ethical Implications

Equity release, as featured on Wearejust.co.uk, is a financial product designed to allow homeowners, typically those aged 55 or over, to unlock some of the equity tied up in their property without having to sell their home. While it can provide a significant lump sum or regular income, its structure generally involves mechanisms that are problematic from an Islamic financial perspective, primarily due to the element of riba (interest).

How Equity Release Works

There are two main types of equity release plans:

• Lifetime Mortgage: This is the most common form. You take out a loan secured against your home, but you retain full ownership. The loan, plus any accrued interest, is typically repaid when the last homeowner dies or moves into long-term care, and the property is sold. The interest often “rolls up,” meaning it compounds over time, significantly increasing the amount to be repaid. For example, if you borrow £50,000 at a typical interest rate of 5% (compounding annually), after 10 years, the amount owed could be over £81,444, and after 20 years, it could exceed £132,664.
• Home Reversion Plan: You sell a portion or all of your home to a provider in exchange for a lump sum or regular payments, but you retain the right to live there rent-free for the rest of your life. While you receive less than the market value of your home, you’re essentially selling equity. This option avoids a traditional loan with interest but involves selling a depreciated share of an asset, which might still have ethical concerns depending on the precise contract structure and fairness.

Why Equity Release is Problematic for Muslims

The core issue with the Lifetime Mortgage, as described by Wearejust.co.uk and commonly understood in the UK, is the compounding interest. Riba is strictly forbidden in Islam, whether it is received or paid. Ljvapes.co.uk Review

• Riba in Lifetime Mortgages: When interest accrues on the loan, it falls squarely under the definition of riba. The fact that the interest is deferred and paid at a later date does not negate its nature as riba. The increasing debt burden due to compounding interest is a direct manifestation of this prohibition.
• Potential for Excessive Debt: The compounding nature of interest can lead to the debt quickly outstripping the initial loan amount, potentially eroding a significant portion of the home’s value or even exceeding it if property values stagnate or decline. This financial burden, rooted in riba, contradicts Islamic principles of ethical financial management and avoiding oppressive debt.
• Home Reversion Considerations: While Home Reversion plans don’t involve riba in the traditional sense, they often involve selling your property at a discounted price (e.g., 20-60% of its market value for the portion sold). While not explicitly riba, some scholars may view the significant discount as potentially exploitative or containing elements of gharar (uncertainty) regarding the future value or use of the asset, especially if fair market valuation and transparency are not absolute. However, the primary Islamic concern with equity release usually lies with the Lifetime Mortgage due to riba.

Alternatives to Equity Release

For Muslims needing to access funds from their property, interest-free or Sharia-compliant alternatives should be explored. These alternatives focus on ethical means of wealth management and avoiding riba.

• Downsizing: Selling a larger family home and purchasing a smaller, more manageable property can free up significant capital without incurring debt or interest. This is often the most straightforward and Islamically permissible option.
• Rent a Room Scheme: If you have spare rooms, renting them out can provide a regular, interest-free income. In the UK, the “Rent a Room Scheme” allows homeowners to earn up to £7,500 tax-free annually from letting furnished accommodation.
• Tawarruq or Murabaha (Islamic Financing Structures): While not widely available for residential equity release in the UK, these Sharia-compliant financing methods could theoretically be adapted. For example, in a Tawarruq structure, a bank would purchase a commodity (e.g., metal) and sell it to the customer on a deferred payment basis at a higher price (cost plus profit). The customer then immediately sells the commodity to a third party for cash. This generates liquidity without riba. Murabaha involves the bank buying an asset and selling it to the customer at a marked-up price, payable in instalments. These are debt-based but are riba-free due to the underlying asset transaction.
• Family Contributions/Support: If feasible, family members pooling resources or providing interest-free loans can be a way to access funds. This aligns with Islamic values of kinship and mutual support.
• Utilising Other Halal Assets: Before resorting to equity release, consider liquidating other halal assets like Sharia-compliant investment funds, physical gold, or non-essential possessions that align with Islamic principles of avoiding extravagance.

In summary, while equity release on Wearejust.co.uk might seem appealing for quick access to funds, its reliance on interest (Lifetime Mortgages) renders it impermissible for Muslims. Exploring ethical alternatives is essential to ensure financial well-being without compromising religious principles.

Understanding Pensions and their Ethical Aspects

Pensions are a cornerstone of retirement planning, designed to provide a regular income when you stop working. Wearejust.co.uk covers various aspects of pensions, including “Defined Benefit” and “Different types of pension.” However, the ethical considerations for Muslims extend beyond the mechanics of accumulation and payout; they delve into how pension funds are invested.

Different Types of Pensions Covered by Wearejust.co.uk

The website mentions both Defined Benefit (DB) pensions and Defined Contribution (DC) pensions.

• Defined Benefit (DB) Pensions: Often called ‘final salary’ or ‘career average’ schemes, these promise a specific income in retirement based on your salary and length of service. The risk of investment performance lies with the employer/scheme provider. While the income is predetermined, the underlying investments of the pension fund might include interest-bearing assets or investments in prohibited industries. For example, large DB schemes often hold vast portfolios across various asset classes, including bonds (which are essentially interest-bearing loans), equities, and property.
• Defined Contribution (DC) Pensions: In these schemes, you and/or your employer contribute to a fund, and the retirement income depends on how much has been paid in and how well the investments have performed. The investment risk lies with the individual. Wearejust.co.uk’s discussion on “Converting your pension into an income” likely pertains to DC schemes, where you choose how to take your accumulated pot (e.g., through annuities or drawdown).

Ethical Concerns for Muslims in Conventional Pensions

The primary ethical concern for Muslims with conventional pensions, whether DB or DC, revolves around the principle of riba (interest) and the nature of the underlying investments. Alphadecking.co.uk Review

• Interest-Bearing Assets: A significant portion of conventional pension funds are invested in interest-bearing instruments, such as government bonds, corporate bonds, and other fixed-income securities. Since these generate returns through interest, they are problematic from an Islamic perspective.
• Prohibited Industries: Many conventional pension funds invest in a wide array of companies without specific ethical screening for Sharia compliance. This means they might hold shares in companies involved in:
  • Alcohol and Tobacco: Producers, distributors, and retailers of alcoholic beverages and tobacco products.
  • Gambling: Casinos, lottery operators, and online betting platforms.
  • Conventional Financial Services: Banks, insurance companies, and other institutions whose primary business involves interest-based transactions.
  • Pork-Related Products: Companies dealing with pork in their supply chain.
  • Adult Entertainment/Pornography: Industries involved in immoral content.
  • Excessive Debt: Companies with high levels of debt (usually defined as total debt exceeding 33% of market capitalisation or assets) are often excluded in Sharia screening due to their reliance on interest-based financing.

The Problem of Commingled Funds

Even if a pension holder intends to invest ethically, conventional pension funds typically commingle investments from various sources without differentiating between Sharia-compliant and non-compliant assets. This makes it difficult to ensure that one’s contributions are invested purely in halal ways.

Alternatives: Sharia-Compliant Pensions

The good news is that Sharia-compliant pension options are increasingly available in the UK, directly addressing these ethical concerns.

• Sharia Screening: These funds employ rigorous Sharia screening processes to filter out companies involved in prohibited activities and to ensure financial ratios (like debt levels) are within permissible limits. This screening is typically overseen by an independent Sharia advisory board.
• Investment Focus: Sharia-compliant pension funds typically invest in:
  • Ethically Screened Equities: Shares of companies that pass the Sharia screening.
  • Sukuk (Islamic Bonds): Asset-backed or asset-based securities that generate returns through profit-sharing or rentals from tangible assets, rather than interest.
  • Halal Property Funds: Investments in real estate that generate rental income, avoiding interest on mortgages.
  • Commodities: Certain permissible commodities, often with physical backing.
• Specific Examples: As mentioned, the NEST Sharia Fund is a prominent example of a widely accessible Sharia-compliant pension option in the UK. Many private pension providers also offer Sharia-compliant fund choices, which can be identified by checking their investment options and verifying their Sharia compliance methodology. According to a report by the UK’s Pensions Regulator, the demand for ESG and Sharia-compliant funds is growing, with an estimated £1.5 billion now managed in Sharia-compliant pension funds in the UK as of late 2023.

Choosing a Sharia-compliant pension ensures that your retirement savings grow in an ethical manner, aligning your financial future with your religious beliefs and avoiding the pitfalls of riba and investments in prohibited industries. While Wearejust.co.uk provides general pension information, it does not facilitate or explicitly endorse these Sharia-compliant pathways.

Contacting Wearejust.co.uk: Email and LinkedIn Presence

When assessing any financial service provider, understanding their contact avenues and professional presence is crucial. Wearejust.co.uk provides standard contact information, but direct email addresses for general enquiries and specific LinkedIn profiles are not immediately obvious from the homepage.

Wearejust.co.uk Contact Information

The website includes a “Contact us” link prominently in both the main navigation and the footer. Clicking this link typically leads to a dedicated page with various ways to get in touch. Based on common practice for financial institutions, this page would likely include: Duchyhomes.co.uk Review

• Telephone Numbers: Dedicated lines for different types of enquiries (e.g., customer service, new business, specific product support).
• Postal Address: For formal correspondence.
• Online Contact Form: A web-based form for submitting queries directly through the website.
• FAQs/Support Centre: A section for self-service answers to common questions.

While the phrase “wearejust co uk email” might be a common search query, a direct, public-facing email address for general customer service isn’t always displayed to prevent spam. Instead, companies prefer contact forms or dedicated support portals. For specific departments or individuals, emails might be available after initiating contact through official channels.

Wearejust.co.uk LinkedIn Presence

A professional presence on LinkedIn is a strong indicator of a company’s legitimacy and engagement in the professional sphere. A search for “wearejust.co.uk linkedin” typically leads to the official LinkedIn page for “Just Group plc” or “Just.”

• Company Page: Just Group plc, the parent company of We Are Just, has a significant presence on LinkedIn. Their page would showcase company news, career opportunities (“Work at Just” link on their homepage points to this), insights into their corporate culture, and potentially details about their senior leadership team. As of early 2024, Just Group plc typically boasts tens of thousands of followers on LinkedIn, indicating a substantial corporate footprint.
• Employee Profiles: Many employees of Just Group plc, including those associated with We Are Just, would have LinkedIn profiles, further solidifying the company’s real-world existence and professional network. This allows for transparency and verification of individuals working within the organisation.

Importance of Contact and Professional Presence

For a financial services provider, clear contact information and a robust professional presence on platforms like LinkedIn are vital for:

• Trust and Credibility: It reassures users that the company is transparent and accessible.
• Accountability: Provides channels for clients to address concerns or seek assistance.
• Recruitment: LinkedIn is a key platform for attracting talent, as indicated by Wearejust.co.uk’s “Work at Just” link.
• Industry Engagement: A strong LinkedIn presence allows the company to engage with industry trends, share insights, and build its brand.

In conclusion, while Wearejust.co.uk might not prominently display a direct email address for general enquiries on its homepage, its contact page and the strong LinkedIn presence of its parent company, Just Group plc, confirm its legitimate and professional standing in the UK financial sector. However, for those seeking ethical financial advice, it is crucial to ensure that any direct discussions or information gathered through these channels are scrutinised against Islamic financial principles.

Understanding Income Drawdown and its Ethical Implications

Income drawdown, a popular option for managing retirement savings in the UK, is extensively discussed on Wearejust.co.uk. It allows individuals to keep their pension pot invested and draw an income directly from it, offering flexibility compared to annuities. While appealing for its adaptability, the ethical implications for Muslims often hinge on the nature of the underlying investments. Justchristening.co.uk Review

How Income Drawdown Works

Wearejust.co.uk explains income drawdown as an alternative to annuities, allowing retirees to:

• Keep their pension pot invested: Instead of exchanging the pot for a guaranteed income (annuity), the money remains invested, typically in a range of funds chosen by the individual.
• Take flexible income: Retirees can decide how much income to take and when, subject to tax rules. This could be a regular income, or lump sums as needed.
• Potential for growth: If the investments perform well, the pension pot can continue to grow, potentially providing a higher income over the long term.
• Investment risk: The value of the pot can fall as well as rise, meaning the income isn’t guaranteed and could run out.

Ethical Concerns for Muslims in Income Drawdown

The ethical concerns for Muslims with income drawdown are similar to those for pensions in general, focusing on the riba (interest) and non-Sharia-compliant elements within the investment funds chosen for the drawdown pot.

• Conventional Investment Funds: The vast majority of funds available for income drawdown are conventional, meaning they invest in a mix of assets, many of which are problematic in Islam:
  • Interest-bearing bonds: Many growth and income funds include government and corporate bonds that pay interest.
  • Companies in prohibited sectors: Investments in companies involved in alcohol, gambling, conventional banking, pornography, and other non-permissible industries are common.
  • High debt levels: Funds may invest in companies with high levels of interest-based debt, which is generally discouraged in Islamic finance.
• Lack of Sharia Screening: Wearejust.co.uk, like most mainstream financial platforms, does not inherently offer Sharia-compliant investment options within their drawdown facilities. This means a retiree using their service would likely be limited to funds that do not undergo Islamic ethical screening.

The Dilemma of Flexibility vs. Compliance

Income drawdown offers attractive flexibility, allowing retirees to manage their income and leave a legacy. However, for Muslims, this flexibility often comes at the cost of Sharia compliance if they choose conventional investment funds. The “potential for growth” becomes problematic if that growth is derived from impermissible sources.

Alternatives: Sharia-Compliant Income Drawdown

The principle of income drawdown itself, which is managing an investment pot for income, is not inherently against Islamic principles, provided the underlying investments are Sharia-compliant.

• Sharia-Compliant Investment Funds: The key alternative is to ensure the funds chosen for income drawdown are rigorously screened for Sharia compliance. This involves:
  • Equity funds: Investing in shares of companies that adhere to Islamic ethical guidelines (e.g., no involvement in alcohol, gambling, interest-based finance, or high debt levels).
  • Sukuk: Utilising Islamic bonds that generate returns from asset-backed or asset-based transactions, rather than interest.
  • Halal property funds: Investing in real estate that generates rental income ethically.
• Specialised Providers: Some Islamic financial institutions or wealth managers now offer Sharia-compliant income drawdown solutions. These are designed to invest pension funds solely in halal assets, allowing retirees to draw an income while staying true to their values. For example, some platforms might offer a “Self-Invested Personal Pension (SIPP)” that provides access to a range of Sharia-compliant funds.
• Phased Withdrawal from Halal Savings: For those without formal Sharia-compliant drawdown options, a simpler approach might be to accumulate retirement savings in Sharia-compliant savings accounts or investment funds (like those offered by Islamic banks or ethical investment platforms) and then withdraw sums as needed in retirement. This provides similar flexibility without the complexities of a formal drawdown product, ensuring all funds remain halal.

In summary, while Wearejust.co.uk provides valuable information on the mechanics of income drawdown, it does not offer the necessary Sharia-compliant investment options. For Muslims, the ethical choice is to seek providers and funds that explicitly adhere to Islamic financial principles, ensuring that their retirement income is blessed and permissible. Edwardmellor.co.uk Review

Retirement Calculators: Utility and Ethical Considerations

Wearejust.co.uk features a dedicated section for “Retirement Calculators,” including tools like the “Quick Income Builder,” “Indicative Lifetime Mortgage calculator,” “Drawdown Risk Calculator,” “Pension Taxation,” “Retirement Budget Planner,” and “Longevity calculator.” These tools are designed to help individuals project their financial future, understand their retirement income, and assess various risks. While the utility of such tools is undeniable for planning, it’s crucial to consider their ethical implications, particularly for Muslims, as the underlying financial models often involve interest-based calculations.

Utility of Retirement Calculators

• Planning and Projection: Calculators provide a quantitative way to estimate future income, savings needs, and potential shortfalls. They help users visualise the impact of different savings rates, investment returns, and retirement ages. The “Retirement Budget Planner,” for instance, helps individuals map out their expected expenses in retirement.
• Risk Assessment: Tools like the “Drawdown Risk Calculator” can help users understand the sustainability of their income drawdown strategy, factoring in market volatility and spending rates. The “Longevity calculator” helps project life expectancy, which is vital for planning how long retirement savings need to last.
• Informed Decision-Making: By running various scenarios, individuals can make more informed decisions about their contributions, investment choices (within a conventional framework), and retirement goals. For example, the “Quick Income Builder” could help someone see how adjusting their contributions affects their projected income.

Ethical Considerations for Muslims

The core ethical concern with these calculators, from an Islamic perspective, lies in their implicit reliance on interest-based financial models, especially for projections involving “returns” and “growth.”

• Interest as a Basis for Growth:
  • Investment Growth: When a calculator projects how a pension pot might grow over decades, it typically uses an assumed annual rate of return. In conventional finance, a significant portion of these returns (especially from fixed-income assets like bonds) is derived from interest. Even equity returns can be influenced by the interest rate environment.
  • Lifetime Mortgage Calculator: The “Indicative Lifetime Mortgage calculator” directly involves calculating the accumulation of interest on a loan, which is riba. Using such a calculator would be to engage with a prohibited financial instrument, even if only for exploratory purposes.
• Distortion of Halal Concepts: While some calculators might seem neutral (e.g., a simple budget planner), when linked to financial products discussed on Wearejust.co.uk (like annuities or income drawdown funds), they indirectly promote financial structures that are not Sharia-compliant. The “income” projected might implicitly include riba-derived earnings.
• Implicit Endorsement of Riba-Based Products: By providing tools for products like Lifetime Mortgages, the website, and by extension its calculators, legitimises engagement with riba-based transactions, which is contrary to Islamic principles.

How Muslims Should Approach Financial Calculators

While avoiding tools that directly calculate riba (like the Lifetime Mortgage calculator) is essential, general planning calculators can still be useful if their underlying assumptions are adapted or understood within a halal framework.

• Focus on Ethical Growth Rates: When using calculators that project investment growth, Muslims should consider expected profit rates from halal investments (e.g., Sharia-compliant equity funds, Sukuk, ethical property investments). These rates may differ from conventional projections based on interest-heavy portfolios.
• Manual Adjustments for Halal Returns: For sophisticated planning, one might use a calculator’s framework but manually input or adjust projected growth rates to reflect actual or expected returns from Sharia-compliant investments, rather than conventional interest-based returns.
• Prioritise Cash Flow and Asset-Backed Income: Instead of relying on interest-based income streams, focus calculations on income derived from asset rentals (e.g., ethical property investments), profit-sharing (e.g., Islamic bank accounts), or capital gains from Sharia-compliant equities.
• Budgeting Calculators: Tools like the “Retirement Budget Planner” are generally neutral and highly useful for managing expenses, which aligns with Islamic principles of moderation and responsible spending. These can be used without reservation.

In essence, while the mechanism of a calculator can be helpful for financial foresight, the inputs and underlying models on Wearejust.co.uk are deeply rooted in conventional finance. For Muslims, it’s critical to critically evaluate these tools, discard those that directly deal with riba, and adapt others by substituting interest-based assumptions with Sharia-compliant growth projections.

FAQ

What is Wearejust.co.uk?

Wearejust.co.uk is the official website for Just Group plc, a UK-based financial services provider specialising in retirement and later life financial solutions, including pensions, annuities, income drawdown, and equity release products. Spectrumcover.co.uk Review

Is Wearejust.co.uk a legitimate company?

Yes, Wearejust.co.uk appears to be a legitimate website for Just Group plc, a publicly listed company on the London Stock Exchange and regulated by the Financial Conduct Authority (FCA) in the UK.

What services does Wearejust.co.uk offer?

Wearejust.co.uk offers a range of services related to retirement planning, including information on State Pensions, different types of private pensions, inheritance tax, writing a will, powers of attorney, and specific financial products like annuities, income drawdown, equity release, and care funding plans. They also provide various retirement calculators.

Does Wearejust.co.uk offer Sharia-compliant financial products?

No, based on the information provided on their homepage, Wearejust.co.uk does not explicitly offer or mention any Sharia-compliant financial products. Their offerings appear to be based on conventional UK financial market structures that typically involve interest (riba), which is prohibited in Islam.

Why are some of Wearejust.co.uk’s products not suitable for Muslims?

Products offered by Wearejust.co.uk such as conventional annuities, income drawdown (if underlying investments are interest-based), and especially equity release (like Lifetime Mortgages), involve riba (interest), which is strictly forbidden in Islamic finance.

What are the ethical concerns with annuities offered by Wearejust.co.uk?

Conventional annuities, as offered by Wearejust.co.uk, are built on an interest-based structure where a lump sum is converted into a guaranteed income, making them generally impermissible in Islamic finance due to the involvement of riba. Coke.co.uk Review

Is Equity Release from Wearejust.co.uk permissible in Islam?

No, Equity Release, particularly the Lifetime Mortgage, is generally not permissible in Islam because it involves a loan on which compounding interest (riba) accrues, to be repaid when the property is sold.

What are the alternatives to conventional pensions for Muslims?

Alternatives to conventional pensions for Muslims include Sharia-compliant pension funds like the NEST Sharia Fund, private Sharia-compliant pension schemes, and investing in ethically screened equity funds or Sukuk (Islamic bonds).

What is the alternative to conventional insurance (like care funding plans) for Muslims?

The Islamic alternative to conventional insurance is Takaful, a cooperative system where participants mutually contribute to a fund to cover each other’s losses, avoiding elements of interest and excessive uncertainty found in conventional insurance.

Where can I find Wearejust.co.uk’s email address?

A direct public-facing email address for general inquiries is usually not prominently displayed on the homepage to manage spam. Instead, users are typically directed to a “Contact us” page with a contact form or specific departmental email addresses.

Does Wearejust.co.uk have a LinkedIn presence?

Yes, the parent company, Just Group plc, has a significant professional presence on LinkedIn, where you can find company information, news, and job opportunities, including those related to “Work at Just.” Sevenhillscrafts.co.uk Review

Are Wearejust.co.uk’s retirement calculators ethically sound for Muslims?

While general budgeting calculators can be useful, some of Wearejust.co.uk’s calculators, such as the “Indicative Lifetime Mortgage calculator,” directly deal with interest (riba), making them unsuitable. Others might implicitly rely on interest-based growth assumptions for projections.

How can I plan for retirement ethically as a Muslim in the UK?

To plan for retirement ethically, focus on Sharia-compliant financial products such as Islamic savings accounts, Sharia-compliant investment funds, Takaful (Islamic insurance), and Islamic will writing services.

Does Wearejust.co.uk provide advice on estate planning for Muslims?

Wearejust.co.uk provides general information on estate planning, including “Writing a will” and “Inheritance tax.” However, it does not specifically cover Islamic inheritance laws or provide Sharia-compliant will writing services.

What is “Income Drawdown” on Wearejust.co.uk, and is it halal?

Income drawdown allows you to keep your pension pot invested and draw an income. While the concept of drawing income from an investment pot is not inherently haram, the underlying investment funds typically offered by Wearejust.co.uk are conventional and not Sharia-compliant, making them problematic.

What is the “Quick Income Builder” calculator on Wearejust.co.uk?

The “Quick Income Builder” is a calculator on Wearejust.co.uk designed to help users project their potential retirement income based on contributions and investment performance. However, its underlying assumptions likely include interest-based returns. Motability.co.uk Review

What is “Defined Benefit” pension on Wearejust.co.uk?

Defined Benefit pensions, also known as ‘final salary’ schemes, promise a specific income in retirement based on your salary and length of service. While the payout is defined, the underlying pension fund’s investments often include interest-bearing assets, posing ethical concerns for Muslims.

What information does Wearejust.co.uk provide on “Later Life Conversations”?

Wearejust.co.uk offers resources under “Later Life Conversations” to help individuals have important discussions with family and loved ones about care, finances, and other sensitive topics in later life, aiming to provide useful information and guidance.

Does Wearejust.co.uk discuss “Sustainability”?

Yes, Wearejust.co.uk has a “Sustainability” section, stating “Your retirement. Our planet. The future. See what steps we’re taking to protect them all.” This generally refers to environmental, social, and governance (ESG) initiatives, which are not synonymous with Sharia compliance.

How does Wearejust.co.uk help with “Tracing previous pensions”?

Wearejust.co.uk provides information and guidance on tracing previous or lost pension pots, which is a common challenge for individuals approaching retirement with multiple employers over their career. This is a purely administrative service and ethically neutral.

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