Mandalawi announces the most important provisions of the Pension and Social Security Law for Workers

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[size=52]Mandalawi announces the most important provisions of the Pension and Social Security Law for Workers[/size]

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2023-05-17
First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, confirmed today, Wednesday, that the provisions of the retirement and social security law for workers voted on are comparable to what is in force in developed countries.[/size]
[size=45]And the media office of the First Deputy Speaker of the House of Representatives stated in a statement that, during a press conference held after the completion of the voting session on the law, in the presence of the heads and members of the relevant parliamentary committees, and the Minister of Labor and Social Affairs Ahmed Al-Asadi, he stressed that “the law will represent the main element to protect and guarantee the rights of workers, And the revitalization of the private sector, which employs more than 5 million workers, and the law will ensure the expansion of the umbrella of coverage by adding the insurance branch for voluntary retirement, and adding labor service in the government sector for the purposes of allowance, promotion and retirement, as well as including a retirement formula that provides psychological and material stability, in a way that guarantees their equality with government retirees.
Al-Mandalawi described, "The Workers' Retirement and Social Security Law is one of the most prominent laws, which will constitute an important turning point and a giant step towards strengthening the economic wheel, protecting the segment of workers in the private sector, and guaranteeing their rights similar to their peers working in the public sector."
He added, “The law also allowed the possibility of purchasing a service for workers who do not have a period of service that qualifies them for retirement, with the possibility of any Iraqi ensuring himself with voluntary retirement, and it also guarantees that the pension for partial disability will be transferred to the successor (heirs) upon the death of the retiree, in addition to granting cost-of-living allowances.” annually, and linking it to inflation and increasing the pension salaries of workers who are insured by a decision of the Council of Ministers.”
Al-Mandalawi affirmed: “Women working in the private sector will have a greater share in the new law, as wide privileges are granted to them, including pregnancy and childbirth leave, and they enjoy a full salary, in addition to a number of advantages included in the provisions of this important law.”[/size]
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