Accelerated Pension and Bonus Legislation Approval: Impact on Civil and Military Workers

2024-02-14 01:00:00

During its plenary session, headed by Counselor Hanafi Jabali, the House of Representatives approved a law to accelerate the due date for periodic bonuses and grant a special bonus to those not covered by the Civil Service Law. The legislation included increasing the additional incentive for state workers, increasing civil and military pensions, and disbursing periodic bonuses.

In accordance with the provisions of Article Seven of this law, following final approval by the House of Representatives, the fate of pensioners will be as follows:

1. Accelerating the due date for the pension increase for the year 2024 to become March 1, 2024, for pensions due on 2/29/2024.

2. The increase will be made without prejudice to the entitlement to the increases that are decided as of July 1, 2025, on the scheduled dates.

3. You will benefit from these increases from the pensions determined in accordance with the provisions of the aforementioned Social Insurance and Pensions Law, which are due during the period from 3/1/2024 until 6/30/2024, starting from the pension entitlement date.

4. After these increases are approved under this law, the Social Insurance Fund will bear the financial burden resulting from accelerating the disbursement of the pension increase.

5. You cannot combine the bonus you get if you work in a public sector or business sector company with the increase due to your pension.

6. Taking into account that if you combine the bonus with the increase in pension and your age is less than the age set for the end of service, you are entitled to the special bonus. If this bonus is less than the increase in pension, the pension is increased by the amount of the difference between them.

7. In the event that the worker has reached the age specified for the end of service, he is entitled to an increase in pension. If the increase in pension is less than the bonus, he is entitled to the difference between them from the entity in which he works.

1707888116
#Find #fate #pensioners #Parliament #approved #law #accelerating #bonuses

Leave a Replay