The General Federation of Bahrain Trade Unions held its Central Council meeting last Saturday, in which it reviewed the overall amendments made to pension funds in the public and private sectors.
The Federation issued a statement on the occasion noting that “Any controversial changes to pension funds and pensions in terms of laws and systems are a detraction of the rights of retirees”.
The same statement also stressed “the necessity to look for real and serious solutions to the problem of the fund deficit without risking the rights of retirees and workers”.
The statement reminded as well that “the desired goal of retirement is for workers to have stability in their retirement and enjoy insurance benefits that provide them with decent life standards and prevent them from being in need after the end of their work phase”.
At the end of the statement, the delegates of the Central Council stressed the importance of consultation and dialogue with the parties of interest in the social insurance system, through effective communication and by giving sufficient time to review the proposals submitted by the three production parties.
The Council also stressed that these discussions should tackle the reasons that led to this deficit and come up with a work plan to avoid them in the future by setting a clear and transparent system that ensures that no unilateral decisions would be taken, and that other parties, including workers would not bear the repercussions of such decisions.
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