Pension Fund initiatives welcomed

KUWAIT: The Sultanate on Wednesday concluded its participation in the two-day 17th meeting of the Committee of GCC Heads of Civil Retirement and Social Security Authorities, represented in the Civil Service Employees Pension Fund (CSEPF) and the Public Authority of Social Insurance (PASI) hosted by the General Organization for Social Insurance in Kuwait. The participants welcomed CSEPF initiative to prepare a study that includes analysis and requirements of establishing a unified platform between the civil pension and social security.

The meeting included a number of decisions, including the registration of GCC citizens in the system of extending insurance protection to GCC citizens through the dedicated electronic portals in the web sites for the GCC apparatus and activation of bilateral electronic connection.

The heads of the civil pension and social security authorities also decided to adopt the report of the reform study group of civil pension funds and social security systems provided that the GCC Secretariat submits the report to the GCC financial and economic committee at their next meeting.

The heads also decided to mandate the Technical Committee for Civil Retirement and Social Security to prepare a study to evaluate and discuss mechanisms for the development of the system of extending insurance protection to GCC citizens. — ONA