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The appearance of Mohammed Saleh financial advisor to the Prime Minister
The appearance of Mohammed Saleh financial advisor to the Prime Minister
Saleh warns of "bankruptcy" and calls for the pension fund to ensure sustainability plan funding
Author: ASJ
Editor: BK
11.27.2016 01:41
Number of Views: 1385
Editor: BK
11.27.2016 01:41
Number of Views: 1385
Long-Presse / Baghdad
Financial advisor to the prime minister, Haidar al-Abbadi, warned of the possibility of bankruptcy of the pension fund, while attributing it to a "very significant increase" the number of staff recruited after the year 2003, compared to retirees, called for the need to develop a plan to ensure the sustainability of its financing and the availability of the necessary funds in it.
He said the appearance of Mohammed Saleh, in an interview to the (long-Presse), "The years after 2003 saw the application of an inverse equation where the number of appointees has increased in the state departments are very large proportion of the retirees," noting that it "has led to a decrease in contributions to the pension fund, what makes a real bankruptcy concerns. "
And saw the benefit, that "the decline in the fund hurts financial process and benefits of a large segment of citizens unless protective action early," noting that it "includes paying the employee the remaining years of his service basis in retirement, or that his pension received by a fundamentalist, what will money to the fund in addition to other mechanisms can be taken. "
He explained the financial advisor to Ebadi, "The IMF and the World Bank estimates, emphasizes the need to amend the pension fund and development Balnho which guarantees the continuity of funding and the availability of the necessary funds in it."
The retired state employees fund, established under Article 18 of the Unified Retirement Law No. (27) of 2006 amended, and is linked to the national retirement Authority.
The Fund shall, under the law, the task of identifying departments and people who have to pay the arrests pensions and their data collecting and recording data on circles of various state and personal data and data business, jobs, management and updated to ensure accuracy, reliability and the collection of arrests pensions from all state departments and its various institutions and symbols allotted the figures for all state employees and ensure archiving and securing all the data for the purpose of data protection and subscriptions collection system, according to the software and systems calculator and determine the amounts to be collected from the state departments and determining the shortage or increase in the amounts sent and issuing notices of amounts due, as well as the registration and collection of all amounts received by the Fund's account, as well as received and deducted 7% of the monthly salary of the employee to calculate the arrests pensions and pay employee circle 12% of the employee's salary to calculate monthly pension arrests these amounts are sent to the state employees retirement fund in turn, an important pension insurance.
Iraq has suffered from a severe financial crisis as a result of the deterioration of oil prices, the war being waged against terrorism, which forced him to take a series of austerity measures, and recourse to borrowing from state agencies, especially the International Monetary Fund and the World Bank.
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Financial advisor to the prime minister, Haidar al-Abbadi, warned of the possibility of bankruptcy of the pension fund, while attributing it to a "very significant increase" the number of staff recruited after the year 2003, compared to retirees, called for the need to develop a plan to ensure the sustainability of its financing and the availability of the necessary funds in it.
He said the appearance of Mohammed Saleh, in an interview to the (long-Presse), "The years after 2003 saw the application of an inverse equation where the number of appointees has increased in the state departments are very large proportion of the retirees," noting that it "has led to a decrease in contributions to the pension fund, what makes a real bankruptcy concerns. "
And saw the benefit, that "the decline in the fund hurts financial process and benefits of a large segment of citizens unless protective action early," noting that it "includes paying the employee the remaining years of his service basis in retirement, or that his pension received by a fundamentalist, what will money to the fund in addition to other mechanisms can be taken. "
He explained the financial advisor to Ebadi, "The IMF and the World Bank estimates, emphasizes the need to amend the pension fund and development Balnho which guarantees the continuity of funding and the availability of the necessary funds in it."
The retired state employees fund, established under Article 18 of the Unified Retirement Law No. (27) of 2006 amended, and is linked to the national retirement Authority.
The Fund shall, under the law, the task of identifying departments and people who have to pay the arrests pensions and their data collecting and recording data on circles of various state and personal data and data business, jobs, management and updated to ensure accuracy, reliability and the collection of arrests pensions from all state departments and its various institutions and symbols allotted the figures for all state employees and ensure archiving and securing all the data for the purpose of data protection and subscriptions collection system, according to the software and systems calculator and determine the amounts to be collected from the state departments and determining the shortage or increase in the amounts sent and issuing notices of amounts due, as well as the registration and collection of all amounts received by the Fund's account, as well as received and deducted 7% of the monthly salary of the employee to calculate the arrests pensions and pay employee circle 12% of the employee's salary to calculate monthly pension arrests these amounts are sent to the state employees retirement fund in turn, an important pension insurance.
Iraq has suffered from a severe financial crisis as a result of the deterioration of oil prices, the war being waged against terrorism, which forced him to take a series of austerity measures, and recourse to borrowing from state agencies, especially the International Monetary Fund and the World Bank.
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