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Parliamentary Finance to «Economy News»: The retirement fund faces bankruptcy
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The head of the Parliamentary Finance Committee, Haitham al-Jubouri, announced that the retirement fund is destined for bankruptcy due to government policies.
"The Iraqi government pays annually from the state treasury for transitional justice laws, represented by the salaries of victims of terrorism, political prisoners, Rafha and others, 20 trillion dinars," Al-Jubouri told Al-Iqtisad News, adding that the pension fund takes retirement pensions estimated at 10% of employee salaries and 15% Paid by the Ministry of Finance. "
He stressed that the pension fund is currently paying 23% more money than its revenues, which means that the pension fund will be completely bankrupt within 4 years, indicating that this bankruptcy is due to the laws that were issued, increasing the minimum wage and others.
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