4 stages to get end of service bonus
The General Authority for Pensions and Social Security has set 4 stages for obtaining end of service benefits, confirming that the employee may not be deprived of them except in case of disciplinary punishment by the employer for an offense committed by the employee,
The General Authority for Pensions and Social Security has established 4 stages for obtaining end of service benefits, confirming that the employee may only be deprived of a disciplinary penalty by the employer for an offense committed by the employee,
In an awareness campaign launched on its official website Twitter, the Authority said that the first stages are the end of the first year of service, which represents the minimum length of service to which the insured is entitled to the bonus, and the second to those who have completed 5 years of service , Who are entitled to a reward of one and a half months for each year of the salary of the bonus account.
The Authority explained that after the insured has spent 10 years of service, the bonus account is raised to two months for each year, while over the past 10 years, he is entitled to a reward of 3 months for each year of the first ten years.
In the series of awareness-raising announcements, the Authority stated that the end of service benefit was paid to the insured in the absence of the pension entitlement conditions immediately after the termination of their services when the period of insurance contributions was one full year or more in accordance with the provisions of Article 16 of Federal Law No. 7) for the year 1999, concerning pensions and social insurance, and its amendments, stating that the value of the reward to the insured is paid by one and a half month salary for each of the first five years of the insured's contribution, two months for each of the following five years, For each year which has increased, (L. Salary is intended here, is the salary of the pension account, and is taken on average for the last three years of work).
The insured must be a citizen of the State, registered by his employer with the General Authority for Pensions and Social Security, and his contribution shall not be less than one year, confirming that in the event of death of the insured, For the period of his service to the beneficiaries of the heirs, in accordance with the provisions of the law for the pension, and according to the distribution contained therein, and if there are no heirs eligible for the deceased insured, this bonus is distributed according to the provisions of inheritance in Islamic law.
The end-of-service benefit is calculated on the basis of the salary of the pension account, which is calculated for the government sector, through the average salary of the contribution account for the last three years of service, while the private sector is calculating the average salary of the subscription account for the last five years of service.