Efa Postponed Decision On Proposed Reduction Of Retirement Age

The Economic and Financial Affairs Committee postponed finalizing its decision on the proposed reduction of retirement age until next Monday. Tuesday’s meeting was supposed to be for deliberation and voting on the proposal; but the Public Institution For Social Security (PIFSS) presented figures in detail and expressed reservations over the proposal.

Al-Ghanim, who attended the meeting, pointed out that “things are going to be positive in terms of the proposed reduction of retirement age. God willing, it will be passed without any effect on public money.” He hopes the concerned parties will reach an agreement to better serve the people.

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Committee Rapporteur MP Saleh Ashour said the government did not present amendments or its views on the proposal, while it rejected the recommendations of the company tasked to study the proposal. He added the government presented an alternative – gradual deduction of the salary of the employee from 25 to 29 years in service. He considers this alternative impractical because the citizen will lose about 45 percent of his salary. “If the government does not submit its proposals next week, we will vote on the report of the committee in cooperation with the company,” he concluded.

Furthermore, the Interior and Defense Committee approved the proposal of MP Waleed Al-Tabtabaei on the insurance for driving licenses to allow the holders of such licenses to drive personal and rented vehicles under the same guarantee. However, sources revealed the Interior Ministry responded to the proposal saying that the Insurance General Union voiced objection to the amendment of the Insurance Law as this will entail higher cost for insurance companies in terms of compensation for loss of life and property.

SOURCE : ARABTIMES

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