Govt won’t reject amendment to retirees deductions law

KUWAIT CITY, Feb 22: It has been affirmed that the government will not reject the amendment to the deduction law that was approved by the National Assembly in its first session recently, reports Al-Anba daily.

As per this amendment, the rate of deduction from the retirement pension that received a soft loan, i.e. without interest, has decreased from 25 percent to 10 percent. According to sources, the government, which abstained from voting, will conduct a quick study before the second debate on the cost of implementing the law and its impact on the Public Institution for Social Security. If the institution’s funds are able to bear the reduction in the installment, then the government will go ahead with its implementation. If the indicators show negative impacts that cannot be avoided, the government will search for a way to amend the text of the first debate.

This will be done in cooperation with the Parliament’s Finance Committee for enabling it to implement the law. The sources said the government called for more dialogue and cooperation for the benefit of retirees.

They expressed hope that the upcoming sessions will witness tangible cooperation in the field of legislative achievements for meeting the public interest of the country, similar to what was achieved lately.

Concerning the priority laws, the sources said, “There are several laws including conflict of interests, right to access information, preventive settlement, restructuring and bankruptcy law, and the draft law to increase the maximum fine for traffic violations. In addition, there is the amendments to some provisions of law No. 74/1983 on drug control, regulation of drug use and drug trafficking, well as the second deliberation on the amendments to the social security law.”