Manama, April 20 (BNA) The CEO of the Public Authority for Social Insurance, Iman Mustafa Al-Morbati, announced the deposit of an increase in retirement pensions on the salaries of retirees from January 2021 to April 2022, in implementation of the directives of His Royal Highness. Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.
The directives are consistent with the pension and social security reforms that will enhance the sustainability of the fund and preserve the rights of retirees and participants.
The CEO expressed her gratitude to His Majesty King Hamad bin Isa Al Khalifa for ratifying and promulgating Law No. 13/2022 amending some provisions of Law No. 13/1975 regarding the organization of pensions and retirement benefits for government employees, and the law. No. 14/2022 amending some provisions of the Social Security Law promulgated by Decree-Law 24/1976 after the approval of the Shura and Representatives Councils.
She expressed her thanks to His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, for his interest in the rights of retirees and the promotion of the sustainability of pension funds.
Al-Morbati praised the legislative authority’s cooperation with the government in discussing and approving the pension system reforms, which culminated in disbursing an increase of 3% to retirees for the past two years.
She explained that the increase included all pensions paid to beneficiaries in the name of the deceased as well, with a total of more than 95,000 retirees and eligible citizens.
The amounts were retroactively deposited into their accounts in the current month’s pensions. It will be disbursed monthly starting in May.
She pointed out that the 3% increase will be disbursed for the years 2021 and 2022, but it will not exceed 30 Bahraini dinars.
HF