Is the pension paid to an employee after reaching sixty years of age permissible or forbidden, knowing that the value of the pension is greater than the amount that was deducted monthly from his salary for insurance?

If the deduction from the salary is a subscription to a prohibited commercial insurance, then it is not permissible to subscribe to it. And whoever subscribed to it out of ignorance or compulsion, it is not permissible for him to take more than what he paid. The excess is unlawful money that must be disposed of by spending it on Muslim welfare or for the poor and needy. However, if the insurance is cooperative and mutual, which is rare, then there is no objection to it, and it is permissible to benefit from what comes from it, even if it is more than what the worker subscribed with.