‘Number expected to increase’
KUWAIT CITY, May 30: A total of 450 government employees who meet the requirements have applied for early retirement since the law was introduced on April 1, 2007, reports Al-Jarida daily quoting sources from Public Authority for Social Security.
The sources said that among the applicants are managers of sectors, civilian and military supervisors, noting that no undersecretaries or assistant undersecretaries were among the applicants.
This number is expected to increase in the coming months before August 1, 2019, because all those who retire before this date will get an increase of 30 dinars in their pension money.
The sources explained the early retirement will contribute to raising the proportion of retirees annually to more than 8 thousand and the total number exceeded 135,000 according to the latest statistics for fiscal 2019/2018.
It is noteworthy to mention the number of retirees before the application of the law is expected to be 6,600 cases during the current financial year – people who have spent 30 years in service for men, and 25 years for women. The National Assembly approved in its ordinary session on January 30 last during the second reading the proposal to amend the Social Insurance Law on early retirement with 36 MPs voting in favor and 14 against.
After the adoption of the law at the time, the Minister of Finance Dr Nayef Al-Hajraf, said the law is optional and those who wish to retire according to him, can benefit from it, but those who do not wish will not be harmed but continue to work according to the existing system.