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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Parliamentary Finance: We must reconsider reducing the retirement age from 63 to 60 years

    Rocky
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    Parliamentary Finance: We must reconsider reducing the retirement age from 63 to 60 years Empty Parliamentary Finance: We must reconsider reducing the retirement age from 63 to 60 years

    Post by Rocky Tue 26 Mar 2024, 4:34 am

    Parliamentary Finance: We must reconsider reducing the retirement age from 63 to 60 years

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    Baghdad Today - Baghdad
    Today, Monday (March 25, 2024), the Parliamentary Finance Committee stressed the necessity of reconsidering the paragraph of reducing the retirement age from 63 to 60 years.
    A statement from the Office of the Chairman of the Committee, received by “Baghdad Today”, stated that “The Parliamentary Finance Committee, headed by Atwan Al-Atwani, hosted today, Monday, the head of the National Retirement Authority, (Maher Al-Bayati), to discuss a number of important files, and the meeting witnessed a review of a number of topics and files related to the work of... The Authority, and the challenges it faces, especially with regard to the financial deficit resulting from the large increase in the number of retirees by 10-12% annually.” 
    According to the statement, the meeting reviewed "some of the problems contained in the first amendment to the Unified Retirement Law of 2019, most notably the reduction of the retirement age to 60 years, which burdened the Retirement Fund and deprived it of large funds related to retirement deductions, according to what was confirmed by the Chairman of the Authority, Maher Al-Bayati." 
    Al-Atwani stressed, “the need for the Authority to have a development plan to enhance the investments of the National Retirement Fund, in a way that ensures an increase in its capital to reach the stage of being able to cover 50 percent of retirees’ salaries and improve the services provided to them,” stressing “the importance of protecting their data and entitlements, especially since we are now investigating complaints.” We received reports that many of them were exposed to electronic fraud.” 
    For his part, Al-Bayati explained, “The loan and advance file is managed by electronic payment companies linked to banks, and the Authority has no relationship with it.”     
    The head of the Parliamentary Finance Committee, Atwan Al-Atwani, confirmed during the meeting that the committee “aspires to develop plans that enhance the retirement fund’s investments to contribute to covering at least 50% of retirees’ salaries, and the need for the Ministry of Finance and other ministries to repay the debts they owe to the National Retirement Authority.”
    He added, "We are investigating complaints we have received about electronic fraud on retirees' salaries."
    Al-Atwani pointed out that “the first amendment to the Retirement Law of 2019 was approved hastily and placed the Authority in a financial deficit, and the paragraph of reducing the retirement age from 63 to 60 years must be reconsidered.” 
    He also stressed "the necessity of continuing to automate programs and services to reach the stage of working with the electronic file system for every retiree."
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