How the pensions industry is embracing Ramadan

Ramadan lasts for up to 30 days, and this year began on 11 March. It will end with the celebration of Eid-al-Fitr on 10 or 11 April, and during the month Muslims fast from dawn until dusk.

With a growing focus on diversity and inclusion, companies in the pensions sector are temporarily adapting the working day to help its Muslim workforce during Ramadan.

The Pensions and Lifetime Savings Association (PLSA) is one of many organisations that are offering flexible working hours to employees who are currently fasting.

Julian Mund, chief executive at PLSA, says: “Ensuring inclusivity and understanding cultural and religious needs fosters a more supportive and productive work environment that values everyone and their individuality.”

Muslim workers usually book a day off for the Eid-al-Fitr celebration from annual allowances. However, the exact date is unknown until the night before as it is based on moon sightings – the Muslim calendar is based on lunar months.

In the past, some offices have prevented workers from taking this day off as staff needed to give two weeks’ notice before booking time off work. However, more firms are now allowing greater flexibility to allow staff to have the day off at short notice. 

Greater flexibility

Hymans Robertson is an example of one company embracing this flexibility. The consultancy group says it is well prepared for multiple workers taking the same day off.

It has also rolled public holiday entitlement into annual holiday entitlement, so all workers have the flexibility to work on UK public holiday days and take that leave at a time that better suits them. This gives Muslim employees the option to take holiday for Eid-al-Fitr rather than for the Christian festival of Easter, for example.

Lindsay Guibal, senior human resources business partner at Hymans Robertson, explains: “We foster an inclusive and supportive environment to encourage colleagues to express their needs during Ramadan and encourage open communication and empathy.”

Pension firms are also helping Muslim employees by providing access to prayer rooms and allowing workers to take breaks during prayer times.

As Rosalinda Buttice, head of people at online pension provider PensionBee, explains: “At PensionBee, we are always looking at ways to encourage a supportive and accommodating work environment that prioritises the well-being and individual needs of our team.

“We look at all ways possible that we can provide an inclusive space where everyone feels valued and respected. An example of this is that staff members who come to our central London office – and who wish to use it – have access to amenities such as our prayer room.”

Education and participation

Other companies are also raising awareness of the month among non-Muslim staff so they are aware of their colleagues' needs, including being mindful of arranging working lunches or evening work events while people are fasting during Ramadan.

Daniel Taylor, director at pension administration specialist Trafalgar House, says: “We're embracing Ramadan with open arms. We kicked off with a focus on educating our team about what Ramadan means and the impact it has on colleagues observing it. We released some interactive quizzes, a no-holds-barred Q&A, and insightful articles – all designed to spark curiosity and understanding.

“In the pension industry, just like any other, understanding and accommodating different cultures and observances is key. Ramadan, with its physical and mental demands, really puts this into perspective.

“We’re talking about a month-long commitment to fasting that can significantly influence our colleagues' day-to-day experiences at work. Recognising, accommodating, and respecting these changes isn't just a nod to cultural sensitivity, it's good business. After all, when our team feels supported and respected, they’re at their best – and that’s a win for everyone, including our clients. It’s all about fostering an inclusive environment where everyone can thrive.” 

This is also echoed by Hymans Robertson’s Guibal, who says the company’s multi-cultural network group has shared educational information to all employees about what Ramadan is, the purpose behind it and tips on being inclusive of colleagues who are fasting.

Understanding and awareness

Manpreet Sohal, chief people officer at Independent Governance Group, says it is important that the industry keeps an open dialogue with colleagues from all faiths in a bid to maintain a diverse workforce.

She said: “What is key to enhancing inclusion in the workplace is having an open dialogue with colleagues from all faiths, so that we can better understand and then help meet our peoples’ specific needs.

“For example, one of our colleagues hosted a session where they discussed what Ramadan means to them, and the sacrifices they make throughout the period, helping us all to understand the need for flexibility. 

“We must remember that there is no one size fits all approach to religious observance, so as far as possible we must not only be flexible in our working arrangements, but also build awareness across the entire team to really drive progress around diversity forwards.”

The Muslim Council of Britain publishes an annual guide to Ramadan, suitable for those observing the holy month and for employers seeking to support colleagues.