Is zakah obligatory on money obtained from a savings scheme?

The questioner:
Peace be upon you, O Shaykh.

The Shaykh:
Peace be upon you.

The questioner:
Shaykh, may Allah preserve you. I have two questions. I have a job with a savings scheme, and I have been saving for about five years now. The amount has come to more than sixty thousand. My question, O Shaykh, is whether there is zakah on it or not?

The Shaykh:
Yes, there is zakah on the whole of it.

The questioner:
Okay, what do I do about the years that have passed, O Shaykh?

The Shaykh:
You calculate the zakah for them, my brother.

The questioner:
Okay, so now it is six years, meaning about five years. Do I multiply it by two and a half percent to get the full amount?

The Shaykh:
Every year you pay zakah on it. You pay zakah on the amount that is in it. You pay a quarter of a tenth, a quarter of a tenth, from it. Yes.

The questioner:
Okay, O Shaykh, the years have passed and I do not have a statement. I have to go back to work and ask them for a statement.

The Shaykh:
Yes, go get it. Go back.