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[ltr]Cabinet reviews principles of pension reform in Iraq[/ltr]
[ltr][You must be registered and logged in to see this image.]BAGHDAD - The Cabinet announced on Monday that "the task of reform in the area of retirement is one of the most difficult areas of reform in any country in the world. This requires a long-term process in light of the political and technical challenges. Iraq has taken the first step And most importantly in the history of this reform when the promulgation of the unified retirement law No. 27 of 2006 the rate that was established to integrate the retirement scheme in the public and private sectors.
"Despite the significant challenges faced by Iraq, there has been continued pressure to move to the system of allocated benefits that effectively affect the financial sustainability of the pension system as well as the volatile political environment and difficult security conditions as Iraq faces a major challenge in moving towards a pension system consistent with practices And taking into account the interest in social preferences and the special circumstances of Iraq and what has been achieved and any course he will take in the medium and long term to ensure the aging of his entire people, "adding that" the pension system in general contains a lot of disadvantages such as the existence of a system It does not encourage the existence of mechanisms for the full transfer of benefits across the public and private sectors and reduces the availability of private sector employment with the difficulty of privatization of state-owned enterprises because of the fear of The fate of its workers, and this leads to the reduction of welfare and impede the adequate allocation of human resources and the sacrifice of rights or benefits in the case of the transition from one sector to another.
.
As a result of what was mentioned, the Iraqi government adopted the draft unified social insurance law for the public and private sectors. The following principles were adopted in the draft law approved by the Council of Ministers:
1. Justice
2-Equivalent
3. Sufficiency
4. Flexibility
5. Financial sustainability
6. The deletion of exceptions and reliance on a uniform equation for all State employees and private sector workers. The draft law provides for activating the labor market in Iraq and spreading the principle of non-reliance on the State in employment, while providing the possibility of transition between the two sectors. A major source of state revenues and can summarize the most important features of the bill as follows:
First: The coverage of all the social insurance branches stipulated in the laws and regulations of the International Labor Organization and the World Bank, which were not previously insured in Iraq, such as maternity insurance, unemployment insurance,
Second: The draft law guarantees the extension of the pension system in Iraq by introducing private sector employees, entrepreneurs, companies and individual entrepreneurs under the umbrella of social insurance to ensure a decent living for them and their families. AH
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