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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


    The retirement law returns to the forefront.. preserving experienced people and expectations of “dif

    Rocky
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    The retirement law returns to the forefront.. preserving experienced people and expectations of “dif Empty The retirement law returns to the forefront.. preserving experienced people and expectations of “dif

    Post by Rocky Fri 06 Dec 2024, 4:53 am

    The retirement law returns to the forefront.. preserving experienced people and expectations of “difficulty” in implementing it

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    Economy News - Baghdad
     
    [rtl]In a new development in events, the issue of retirement age has emerged as one of the most prominent issues that has sparked widespread controversy, as the Iraqi Parliament seeks in its current electoral cycle to reconsider the decision to reduce the retirement age to 60 years, and put forward a proposal to return the retirement age to 63 years as it was previously.[/rtl]
    [rtl]This proposal comes amid growing opposition to the reduction decision, which they see as a threat to the stability of government institutions and a loss of the experience employees have gained over many years of service, especially in vital sectors such as health and education.[/rtl]
    [rtl]After Iraq witnessed a broad popular movement in October 2019 that carried the hopes of young people to change the reality and provide them with job opportunities, the decision came at that time to reduce the retirement age to 60 years as part of a series of reforms demanded by the street, but this decision soon sparked widespread controversy.[/rtl]
     
    [rtl]Bridging the gap between expertise and youth[/rtl]
    [rtl]Member of the Parliamentary Finance Committee, Mustafa Al-Karaawi, confirmed that the proposed amendments to the retirement law will not target a specific number of employees, but will include all those who have reached the age of sixty, explaining that there is a proposal to raise the retirement age to 63 years, which will affect a wide segment of employees.[/rtl]
    [rtl]Al-Karawi pointed out that the Iraqi workforce suffers from a shortage of expertise, especially after the cessation of government appointments in recent years, noting that many employees who have reached retirement age are qualified and have gained extensive experience during their long working period, and therefore early retirement for this category will increase the gap between accumulated expertise and young people who lack practical experience.[/rtl]
    [rtl]He explained that this amendment would be beneficial to the retirement fund, as postponing the retirement of employees would benefit the fund in light of their contributions.[/rtl]
    [rtl]Economically and socially, Al-Karaawi believes that Iraq is in dire need of the expertise of older employees, as they can pass on their experience to the new generation of employees. Their continued service will also contribute to the stability of government institutions.[/rtl]
    [rtl]As for the youth, Al-Karaawi believes that the best solution to provide job opportunities for them lies in activating the private sector, and not relying on continuous government appointments, in order to relieve pressure on the state’s general budget.[/rtl]
     
    [rtl]Employee rights and youth aspirations[/rtl]
    [rtl]Financial and banking expert Mustafa Hantoush ruled out the possibility of implementing the decision to increase the retirement age from 60 to 63 years, as is the case in many countries.[/rtl]
    [rtl]Speaking to Al Jazeera Net, Hantoush attributed this exclusion to several intertwined factors, noting that the continuation of the employee who is able to work in his job is a legitimate right, but this right directly clashes with the ambitions of young Iraqis who seek to obtain job opportunities. Iraq witnesses approximately 500,000 young people annually searching for work, including graduates and other groups, which increases the severity of unemployment among young people.[/rtl]
    [rtl]He pointed out that the decision to lower the retirement age to 60 years in the past was aimed at providing new job opportunities for young people, as approximately 200,000 jobs were provided, but experience has proven the inefficiency of this measure in radically solving the unemployment problem, noting that Iraq still suffers from a large deficit in providing job opportunities, especially in vital sectors such as industry, agriculture and tourism.[/rtl]
    [rtl]Jantoush stressed that the solution to the unemployment problem is not limited to raising the retirement age, but rather requires integrated efforts to stimulate the economy and provide an attractive environment for investment, stressing that Iraq has great potential to achieve sustainable economic development, but this potential requires real investment through combating corruption, developing infrastructure and supporting the private sector.[/rtl]
    [rtl]He believed that increasing the retirement age could lead to an exacerbation of the unemployment problem, especially since there is a moral and legal commitment from the state to provide job opportunities for young people, adding that a retired employee receives a retirement salary that guarantees him a decent living, while the unemployed person does not find any source of income.[/rtl]
    [rtl]Hantoush suggested flexible solutions for some special cases, such as employees who have not completed 15 years of service, by extending their service period, or granting the minister the authority to extend the service of indispensable employees for an additional two years, noting that “between 50 and 60 thousand employees are referred to retirement annually, and if the retirement age is amended, between 100 and 150 thousand employees will continue in their jobs.”[/rtl]
     
    [rtl]achieving balance[/rtl]
    [rtl]Community activist Ali Al-Habib stressed that the issue of raising the retirement age requires a careful study of the comprehensive economic and social dimensions, in order to ensure achieving a balance between the needs of different generations.[/rtl]
    [rtl]He said that raising the retirement age may lead to increased pressure on job opportunities available to young people, which limits their integration into the labor market. On the other hand, it may contribute to increased pressure on the state’s financial resources, especially in light of the increase in life expectancy and improved health conditions that may push employees to remain in service for longer periods.[/rtl]
    [rtl]Al-Habib added that there are some exceptions that may require keeping some employees in their jobs, such as doctors, highly experienced engineers and academics, given the importance of their role in driving the wheel of development, adding, “However, this must be within a specific framework and according to clear mechanisms so that it does not occur at the expense of the rights of young people to obtain job opportunities.”[/rtl]
    [rtl]He pointed out the need for a balance between employment policies and retirement age by adopting training programmes for young people to enable them to fill vacant positions, and motivating employees to retire early by providing financial and moral incentives.[/rtl]
    [rtl]Al-Habib suggested adopting a mechanism for exchanging experiences between retired employees and young people in order to ensure the continuity of knowledge and its transfer to future generations.[/rtl]
    [rtl]Al-Habib stressed the importance of focusing on raising the retirement age in specializations that suffer from a shortage of competencies, such as rare specializations or those that require high expertise, instead of applying this policy in general to all employees.[/rtl]
    [rtl]He warned that “depriving young people of job opportunities as a result of arbitrarily raising the retirement age is unacceptable and should be avoided as much as possible.”[/rtl]


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