KUWAIT, The National Assembly approved Tuesday in its first deliberation, the amendment to Article 19 of the Amiri Decree 61 (1976) issuing the Social Security Law regarding increasing the minimum retirement pension.
Finance Minister Fahad Al-Jarallah confirmed Tuesday that based on the directives of His Highness the Amir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, His Highness the Crown Prince Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, His Highness the Prime Minister Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah, and the decision of the Council of Ministers, the minimum pensions will be increased.
This came in Al-Jarallah's remarks after the National Assembly's regular session to discuss the report of the Parliamentary Financial and Economic Affairs Committee.
This law works to improve living standards, starting with the segment of retirees who have the minimum pension, in accordance with the government parliamentary consensus, he said.
This law will not affect the continued disbursement of the annual increase of KD 20, he said, pointing out the government's keenness to complete its studies connected to improving the lives of citizens before the end of this year and referring them to the Parliamentary Financial and Economic Committee.
He underlined the government's endeavor to achieve justice and equality for retirees, and one of the foundations of that justice is not to increase one segment and leave another segment.
National Assembly Speaker Ahmad Al-Saadoun announced Tuesday parliament's approval of amending article (19) of the Amiri order (61) for the year 1976 regarding social insurance, to raise the minimum pension wage.
The amendment was agreed upon by all 63 attendants of the ordinary session, in both first and second deliberations and was referred to the government.
The national assembly's session had moved on to discuss financial and economic parliamentary committee report on amendments proposed by government on social insurance law.
The first article stipulated that minimum pension wage for those supporting seven children and more is KD 1,615.
The second article specified raising retirement wages to a minimum of KD 1,000 or a 10 percent increase as those with a previous salary near KD 1,000 would not stand to benefit from the amendment as much as those with lesser salaries thus prompting the addition of the 10 percent clause.
As for retirees with wage between KD 1,000 and maximum wage, the amendment grants them a five percent increase, to ensure gain to all pensioners.
Source: Kuwait News Agency