Social Insurance Opens Doors for Private Sector Employees to Purchase 5 Virtual Service Years
2018-05-30 - 8:43 am
Bahrain Mirror: Public authority for social insurance said it is ready to receive requests to buy 5 virtual service years for private sector employees, after the king ratified the law that was recently passed by the House of Representatives and Shura council.
The Commission announced, in a statement, that it set up programs to implement the law, as an introduction to accept the purchase orders, and that the number of insured who can benefit from more law is more than 92 thousand Bahrainis in the private sector.
It explained that pursuant to the issued law, the insured in the private sector will be allowed to purchase 5 virtual service years to be added to their participation period in the insurance, similar to those working in public sector. The insured will also have the choice to pay for the virtual years in form of lump-sum payment or monthly payments.
The commission stressed that the decisions issued by finance ministry to implement the provisions of this law won't affect the process of receiving requests.