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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Reducing the retirement age affects the financial balance of the Retirees Fund

    Rocky
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    Reducing the retirement age affects the financial balance of the Retirees Fund Empty Reducing the retirement age affects the financial balance of the Retirees Fund

    Post by Rocky Mon 01 Apr 2024, 4:16 am

    [size=35][size=35]Reducing the retirement age affects the financial balance of the Retirees Fund[/size][/size]
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    2024-04-01 | 02:15
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    Al-Sumaria News - Local

    The Parliamentary Finance Committee confirmed today, Monday, that restoring the retirement age to 63 years instead of 60 years is dependent on the government and not the Finance Committee, indicating that the Retirement Authority is complaining about this reduction and is looking forward to returning the retirement age to its previous state.


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    Jamal Cougar, a member of the Finance Committee, said, “The Chairman of the Retirement Authority informed us that the Authority’s burden was burdened after lowering the legal age, and he supported the need to amend the law again,” indicating that “The Finance Committee supports the request of the Chairman of the Retirement Authority, to benefit from retirement contributions.”



    Regarding the appointment of new employees with lower salaries than retired employees, Cougar explained that “only 20% will be deducted from the retired employee’s salary, which is not enough to hire a new employee,” noting that “there are international standards that have almost agreed that the age of 63 years is very appropriate for retirement.” .

    Cougar stressed the importance of “the state benefiting from the experienced employee it spent and trained for many years,” and criticized “sacrificing three career years for an employee who can continue his giving.”

    He pointed out that "the Retirement Authority will be burdened, and that reducing the retirement age and the number of years of service will affect the Fund's resources due to the increase in the number of retirees," noting that "the new job opportunities created by lowering the retirement age have been quickly filled."
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