A new proposal in Bahrain aims to establish an annual increase in pensions for retirees by utilizing the surplus in the country’s unemployment fund. The plan, supported by several MPs, seeks to help pensioners keep up with the rising cost of living and maintain a decent standard of living. By drawing on spare funds from the unemployment pool until Bahrain’s main pension schemes become self-sustainable, this initiative could provide much-needed financial support for retirees.
Supporters of the plan believe that it aligns with Bahrain’s values of caring for its citizens and fulfilling the Constitution’s commitment to supporting those in need. By identifying a surplus in the unemployment fund, advocates argue that this resource can be effectively utilized to assist retirees without burdening the current pension system. The annual pension increase is seen as a crucial step to help Bahrain’s elderly population cope with daily expenses and inflation.
The proposal emphasizes the importance of ensuring that retirees in Bahrain can enjoy a good quality of life, especially as they face increased living costs. By tapping into the surplus in the unemployment fund, the plan aims to provide consistent support for pensioners and enable them to benefit from the nation’s economic growth. This strategy is seen as a strategic use of the surplus funds to help retirees manage their expenses and sustain a high quality of life.
Following a thorough review of Bahrain’s pension and social support systems, the plan was introduced to make efficient use of the surplus in the unemployment fund. MPs argue that investing these funds in supporting retirees is a wise decision that can help elderly individuals maintain their standard of living and access essential resources. By providing annual top-ups to pensions, the plan seeks to ensure that retirees can navigate the challenges of inflation and rising costs effectively.
