Tag Archives: retirement

Economists say early retirement bill will have negative consequences

‘Solving a problem should not happen by creating a bigger problem’ KUWAIT CITY, April 15: A number of economists revealed their objection to the implementation of the early retirement bill in terms of its high cost and negative consequences, reports Aljarida daily. Executive Chairman of National Bank of Kuwait Essam …

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134 vacancies created by 90 Kuwaiti retirees

‘Subsidies to holders of in-house business will be paid by May ’18’ KUWAIT CITY, April 2: Rapporteur of Parliament’s committee for improving business environment MP Yousef Al-Fadhala affirmed that national labor subsidies will be paid to holders of in-house business licenses maximum by May 2018. In a press release, Al-Fadhala …

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Retirees loan interest reduced by 2.5 percent

KUWAIT CITY, Jan 6: The interests of loans granted to retirees have been reduced by 2.5 percent, reports Al-Anba daily quoting legal sources. They praised the move, stressing that the current interest of 6.5 percent is relatively high compared to the interest rate specified by the Central Bank of Kuwait …

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MPs back proposal to cut Kuwaitis service

Govt objects early retirement plan KUWAIT CITY, Jan 2: The proposal to reduce the service period for Kuwaiti employees to 25 years for men and 20 years for women is being supported by 40 MPs, which makes it difficult for the government to dismiss the proposal, as with the case …

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MoE preparing list of employees over 34 years – 120 citizens, 217 expatriates face compulsory retirement

KUWAIT CITY, Dec 27: The Ministry of Education has prepared list of Kuwaiti and expatriate teachers and employees who will be referred for retirement by the end of academic year 2017/2018 including those who completed 34 years of service, reports Al- Qabas daily quoting sources. Sources revealed the number of …

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Kuwait has lowest retiring age among GCC countries – PIFSS

Reducing retiring age will worsen the problems of the institution KUWAIT CITY, Oct 5: Kuwait has the lowest retirement age among the Gulf countries — 55 years old for men and 50 years old for women, reports Al- Jarida daily quoting the Public Institution for Social Security (PIFSS). The latest …

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PAM to transfer 30 yrs in service employees to administrative posts – Bid to check violations

KUWAIT CITY, Sept 28: Public Authority for Manpower is planning to transfer employees who completed 30 years of service to administrative positions and give them the responsibility of finding solutions to the problems encountered in the labor departments, reports Al-Shahed daily quoting sources. They indicated that the coming period will …

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Customs to retire 80 employees – ‘No exceptions made’

KUWAIT CITY, Sept 24: Director of the General Administration of Customs Jamal Al-Jalawi said no exceptions are made when it comes to sending into retirement all those who have completed 34 years of service, reports Al-Rai daily. Al-Jalawi revealed the customs administration is in the process of issuing a decision …

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Ministry of health refers several employees who completed 30 yrs of service to retirement

KUWAIT CITY, Sept 6:  Ministry of Health intends to refer several of its administrative employees to retirement after reaching the legal age. The source said the ministry is preparing the list of names of employees who have completed 30 years of service. He noted the list, which includes the names …

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Lawmakers discuss panel report on amendment to retirement age

MP surprised by govt’s silence on environmental pollution KUWAIT CITY, June 28: In the frame of coordinating for the next parliamentary session, sources have pointed to constant consultations among members of the parliament to accomplish the Financial Committee’s report on amendment of social security law to reduce retirement age, which …

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