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Economy News _ Baghdad
Today, Wednesday, the head of the Retirement Authority, Maher Hussein Rashid, revealed the mechanism for distributing the pension increase for retirees, which was approved by the Council of Ministers yesterday evening, Tuesday.
Rashid said in a press conference followed by Al-Eqtisad News, "The Authority has begun increasing the amount of 100,000 dinars approved by the Council of Ministers in fairness to the segment of retirees to improve living conditions," indicating that "the Authority is proceeding with electronic automation procedures."
The head of the Retirement Authority added, “Every retiree who receives a salary of one million or less will receive the increase as usual,” pointing out that “the amount of 100,000 is for each person who benefits from the pension, i.e. (heir), meaning the 100,000 is not divided among the heirs.”
Rashid pointed out that “the Retirement Authority is ready to implement the increase decision at any time and we have all the data,” noting that “more than one million and 600 retirees are included in the increase decision.”
He explained that "the total monthly increase amounted to 164 billion and 295 million dinars."
In its session yesterday, Tuesday, the Council of Ministers approved granting the retiree or his heirs an amount to improve living conditions in the amount of 100,000 dinars per month, for those whose total pension and allowances do not exceed one million dinars per month, as of November 1, 2023.
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