Bahrain: Registration for early retirement ended yesterday.

The General Organisation for Social Insurance (GOSI) said that registration for early retirement, which opened on June 9, ended yesterday.

 

Applicants who registered with the Early Retirement Scheme will be required to work until the 31st of August, 2019, said a GOSI statement.

 

The registration is open to eligible applicants working with 13 government entities which were not included in the early batch of early retirees.

 

These include the Supreme Judicial Council (SJC) General Secretariat, The Constitutional Court’s General Secretariat, the Royal Charity Organisation (RCO), the Isa Award for Service to Humanity, the Isa Cultural Centre (ICC), the Bahrain Institute for Strategic, International and Energy Studies (DERASAT), the National Institute of Human Rights (NIHR), the National Audit Office (NAO), the Council of Representatives’ General Secretariat, the Shura Council’s General Secretariat, the Bahrain Institute for Political Development (BIPD), the Holy Quran Institute and the Rashid Equestrian and Horseracing Club.

 

Employees who have been working for any of the above-mentioned government entities for a minimum ten years of services as per the 31st of December 2018 and do not hold a senior position or are not reinstated are eligible to apply for early retirement.

 

In addition to the final salary pension, the scheme encompasses various incentives, including granting up to 5 years of service, a one-off direct cash compensation equal to the cost of purchasing 5 additional years of service, an end-of-service promotion for those eligible, plus an end-of-service indemnity. Other incentives will be added later as per the laws and regulations.

 

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