MPs in Bahrain propose to raise pensions by 3%
A proposal to amend the 2020 Pension Law has been submitted yesterday by five MPs led by Parliament's services committee chairwoman Jalila Al Sayed.
At the moment, the legislation stipulates if proper surpluses are available in pension funds, 3pc pay rises could be given.
According to Ms Al Sayed, it doesn't state what constitutes as proper surpluses or the period the pay rises would be given for.
Pension increases have been suspended since 2022.
However, they have been replaced by a flat BD40 monthly pension support allowance in the 2023-2024 national state budget.
It has been increased by a flat BD20 monthly in the 2025-2026 national state budget.
'The allowance doesn't replace the 3pc pay rise entitlement, which should continue being given whenever there are proper surpluses,' said Ms Al Sayed.
'We don't know what proper surpluses mean, how it gets calculated and actually we don't know if there are surpluses in pension funds covering government, private and security personnel sectors.
'For that reason we are proposing an amendment that states disclosing financial statements with a note on surpluses and, if recorded, then 3pc pay rises should be given for five continuous years.'
The proposed amendment has been referred by Parliament Speaker Ahmed Al Musallam to Ms Al Sayed's committee for immediate review.
mohammed@gdnmedia.bh
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