Loan from a Pension Fund or Provident Fund
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Question
Is it permissible to borrow money from a pension fund or a provident fund? Attached is a file explaining what this means.
Answer
Hello,
If the fund has a heter iska (business permit), it is permissible to borrow from it.
Even though the lenders are all the investors of the fund, and not just its managers. There is no need to arrange a heter iska with each of them, because they all appoint the fund managers to handle their money according to the managers' discretion, and through the heter iska, the managers accept that all actions with the money are subject to the terms of the heter iska.
Source
Shulchan Aruch, Yoreh De'ah, Siman 167