Entrepreneurs praise amendment approved by inst for social security

Bid to improve commercial environment

KUWAIT CITY, Feb 11: A group of entrepreneurs praised the amendments approved recently by the Public Institution for Social Security (PIFSS) as they are in the interest of retirees and guarantee them a decent life, reports Al-Qabas daily.

The group pointed out the amendments will make the fifth item attractive to citizens despite the high contribution amount as it is an important investment to get a higher salary. The group supports this move because it will improve the commercial environment for entrepreneurs.

The group intends to work with the Manpower and Government Restructuring Program (MGRP) and National Assembly to increase the subsidy allocated for entrepreneurial employees in a bid to lessen the impact of the high subscription cost.

The group enumerated the amendments as follows:

Increase the minimum salary of employees registered under the fifth item – ranging from KD 500 to KD 750 – based on their qualifications; while the minimum pension is KD 1,250.

The salary increase is mandatory, not optional in order to facilitate movement to higher categories without consulting PIFSS.

Increase the maximum pension for those registered under the fifth item from KD 1,500 to KD 3,000 so they have the option to obtain the highest pension possible to ensure a decent life for them and their families after retirement.

Allow subscribers to change the category and increase salary – 10 categories – after paying the consequent contribution retroactively for one year.

Director of Public Relations and Media Department at the General Fire Management Sector Brigadier Khaleel Al-Ameer recently received in his office some female teachers and pupils of Al-Jabriya Kindergarten who presented to him a plaque on the occasion of the national holidays, choosing him as one of the professionals exerting tremendous efforts to protect lives and properties.