Three-Month Pension Payment Pause

TDT | Manama

Email: mail@newsofbahrain.com

Pension replacement payments for public-sector workers and retirees would be paused for three months under an urgent proposal approved by Parliament on Tuesday, as MPs sought relief for households facing strain from the after-effects of the Iranian attacks.

The proposal, put forward by MP Mohammed Al Maarafi and four other MPs, calls for the three-month deferment to be granted without interest, added fees or extra charges.

Mr Al Maarafi said the measure aimed to ease the monthly burdens on people who had used pension replacement to meet their needs, but now found the payments harder to bear.

“Those effects have weighed on people’s ability to meet their financial duties on time. Pension replacement is one of the funding tools used by public-sector workers and retirees to meet their needs, but the monthly sums due under this system can add to the burden in the current circumstances, especially with rising living costs or where some families’ income has been affected.”

Finances

The proposed pause would not cancel the sums owed. It would delay repayment dates for three months, giving beneficiaries time to reorder their finances.

Mr Al Maarafi said the step was temporary and sought to balance household relief with the financial position of the bodies concerned.

“Deferring pension replacement payments for three months, without any interest or added fees, is a temporary measure aimed at easing financial pressure and giving beneficiaries a period in which to rearrange their affairs,” he said.

“This is not a write-off of the debt. It is a temporary deferment that balances the interests of beneficiaries with the financial considerations of the bodies concerned, while also matching the state’s approach in helping citizens during exceptional circumstances.”

He said the proposal had been filed urgently because of the need for near-term measures to ease the economic effects now being felt by families.

“The urgency of this proposal stems from the need to take measures that ease the current economic effects and help those benefiting from the pension replacement system, strengthening their ability to face living pressures,” he said.