Cost of Voluntary Retirement Program at 295M, Pension Funds to Pay 70, Rest from Unemployment Fund Surplus: Ahmed Al-Zayed

2019-03-20 - 10:34 م

Bahrain Mirror: Head of the Civil Service Bureau, Ahmad Al-Zayed, said that the cost of financing the voluntary retirement program will be 295 million dinars, noting that the pension funds will pay 70 million dinars, while the remainder will be financed from the surplus of the Unemployment Fund, according to the government's plan.

In a comment made during a parliament session, he said that the government's share in the unemployment fund is about 67%, and that the amount spent on the unemployed is only 8 million dinars a year, while 82 million dinars a year are collected in the Fund. "The amount of compensation for voluntary retirees for the purchase of 5 virtual years is 72.8 million dinars, the value of compensation for actual 5 years is 116.5 million dinars, the value of end of service bonus is 70 million dinars, and the value of the bonus paid by the government to the retirees is 8 million dinars," he added.


Arabic Version

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