2023-11-29T12:47:27+00:00
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The Minister of Labor and Social Affairs, Ahmed Al-Asadi, announced on Wednesday that the minimum salaries for retired workers had been increased to 500 thousand dinars per month, while he launched “Social Security Week” to educate workers and citizens about the services and advantages of the new retirement and social security law for workers.
While chairing a meeting of the Board of Directors of the Retirement and Social Security Fund, according to a statement received by Agency, Al-Asadi stressed “the importance of the members of the Council having an significant and essential role in the various media to convey a clear awareness and educational message to inform the Iraqi worker and citizen of his rights.”
He added, “With the launch of the new law, the minimum salaries for retired workers will rise from 400,000 dinars to 500,000 dinars,” noting that “the Ministry is continuing to work to achieve an increase in the salaries of insured workers.”
He pointed out “the necessity of activating the retirement and social security fund to benefit from surplus funds and invest them correctly,” noting that “there is a higher investment committee whose purpose is to study investment projects to increase the fund’s funds.”
Al-Asadi explained, “There are about 6 million workers in Iraq, and onyl 5% of them are registered, and that one of the components of success is sincerity in work through establishing triumphant projects after crystallizing and studying ideas.”
What are the key reforms being proposed for Iraq’s social security system?
Interview: Addressing Iraq’s Retirement and Social Security Reforms with Ahmed Al-Asadi, Minister of labor and Social Affairs
Editor, Time.news: Minister al-Asadi, thank you for joining us today. Recently, you announced an increase in the minimum salaries for retired workers to 500,000 dinars. Can you explain why this change was necessary and what it means for retired workers in iraq?
Ahmed Al-Asadi: Thank you for having me. The increase in minimum salaries for retired workers is a crucial step towards ensuring that our senior citizens receive a decent standard of living. With the rise from 400,000 dinars to 500,000 dinars, we aim to alleviate financial pressures and improve the quality of life for around 6 million workers and their families. This decision reflects our commitment to social justice and the well-being of our retirees.
Editor, Time.news: This announcement coincided with the launch of “Social Security Week.” What are the main objectives of this initiative?
Ahmed Al-asadi: “Social security Week” is designed to educate both workers and citizens about their rights under the new retirement and social security law. We acknowledge that only 5% of the workforce is currently registered with the social security system, which underscores the need for targeted awareness campaigns. This initiative aims to inform individuals about the benefits they are entitled to, encouraging more peopel to register and take advantage of the services provided.
Editor, Time.news: you mentioned the importance of conveying a clear message about these rights to the public. What role do media and communication play in this educational initiative?
Ahmed Al-Asadi: The media plays a vital role in informing the public. We need the support of media outlets to disseminate accurate data about retirement rights, social security benefits, and related reforms.The Council’s members have been urged to actively participate in media campaigns to ensure that the message reaches every citizen and worker. Awareness is the first step towards empowerment.
Editor, Time.news: You also pointed out the need to properly activate the retirement and social security fund to maximize its potential. Can you elaborate on your plans for the investment committee?
Ahmed Al-Asadi: Absolutely.The investment committee is tasked with studying various projects to invest surplus funds effectively.Our goal is to generate a stable revenue stream for the retirement and social security fund, ultimately allowing us to increase benefits for workers and retirees. Successful investments can lead to a enduring financial future for our social security systems.
Editor, Time.news: With about 6 million workers in Iraq, what steps are you taking to improve the registration rate for social security?
Ahmed al-Asadi: One of our key priorities is to streamline the registration process and make it more accessible. We plan to launch outreach programs that explain the registration benefits in detail. We also want to establish partnerships with businesses to ensure that all workers are registered. It is essential that all workers understand the importance of insurance and social protection.
editor, Time.news: Lastly, what advice would you give to readers who may have concerns about their retirement security or the social security system?
Ahmed Al-Asadi: My advice is simple: stay informed and proactive. Understand your rights and the benefits available to you. If you have not yet registered with the social security system, I encourage you to do so.It is indeed never too early to think about your retirement, and taking action now can make a significant difference in your future. Additionally, we are working to ensure that systems are in place to support you through this process.
Editor, Time.news: Thank you, Minister Al-Asadi, for your insights and commitment to improving the lives of workers and retirees in Iraq. We appreciate your time.
Ahmed Al-Asadi: Thank you for the opportunity to discuss these important issues. Together, we can build a better future for all workers in Iraq.