MPs Propose Amendments to Social Insurance Law to Enhance Benefits for Private Sector

TDT | Manama

The Daily Tribune - www.newsofbahrain.com

Five Members of Parliament (MPs) have submitted a proposal to amend Article 144 of the Social Insurance Law, aiming to improve benefits for private sector employees.

The proposed amendment seeks to align the private sector with the public sector regarding loan replacement services offered by the Social Insurance Organisation (SIO). Currently, public sector retirees can renew their loan replacements every two years, while private sector retirees face a longer waiting period of two years after repaying the previous loan.

The MPs, led by Basma Mubarak, argue that the current disparity creates an unfair disadvantage for private-sector retirees. They believe that aligning the regulations would provide much-needed financial support and improve the living standards of private sector citizens.

"The proposed amendment aims to achieve the necessary social security for citizens, improve the living standards of Bahraini citizens, and increase the income of the SIO through the benefits of loan replacements," stated MP Mubarak.

The proposed amendment also seeks to standardise the terms and conditions of loan replacements across both sectors. This would ensure fairness and transparency in the process, benefiting private-sector retirees who currently face different requirements compared to their public-sector counterparts.

The MPs believe that the proposed amendments would contribute significantly to enhancing the social welfare and financial security of private-sector employees in Bahrain. By aligning the regulations with the public sector, they aim to provide greater access to financial resources and improve the overall well-being of private-sector retirees.