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[size=46]Parliamentary law reveals financial privileges in the Social Security and Retirement Law for workers[/size]
Iraq
11:05 - 2023-05-19
[You must be registered and logged in to see this image.]11:05 - 2023-05-19
The Parliamentary Legal Committee revealed the rate of calculating the retirement salary and financial privileges in the Social Security and Retirement Law for Workers, which was approved by the House of Representatives in its session yesterday, Wednesday.
Committee member Representative Raed Al-Maliki stated, in a press statement, that "the implementation of the draft law is optional in many aspects of it, and once it enters into force, it will include, under the umbrella of retirement and social security, about 15 million workers and subscribers, and this will reduce the burden on public jobs in state departments and government institutions."
He explained, "From a legal point of view, and based on the provisions of the law itself, it will be effective 90 days after its publication in the Official Gazette."
He added, "The application of privileges in the ceiling of the draft law depends on the wage that the worker receives, according to a financial mathematical equation that depends on the average salary of the worker for the last five years of work, and on the basis of which his reciprocal salary is determined, and this differs from one job to another and from one job to another."
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