Included cancellation of the request in case of default in the payment of two installments

“Pensions” sets 6 updates on the installments of adding the service period

The authority launched an awareness campaign to introduce the added values ​​of benefits and advantages.

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The General Pension and Social Security Authority confirmed that the insured can request the addition of previous service periods to the current service period in order to keep his service period continuous, up to the period prescribed for entitlement to the retirement pension, explaining that the period of absence from work may not be included in the periods allowed to be included according to the law. To add the service, it is required that the insured be on the job with full payment of the cost before the end of the service or calculating the added period in proportion to the amounts paid, explaining that the inclusion of the service period is basically an optional procedure, so the insured can add any number of years.

The authority stated, on its official page on the social networking platform “Twitter”, that the requirement to return the end-of-service gratuity as a down payment when wanting to add the service no longer exists, and then the insured can now pay in installments the entire cost of the inclusion, pointing out that the lack of a requirement to return the reward as a first payment A procedure that facilitates the joining process for those wishing to do so, especially as it is often useful to meet the prescribed period for entitlement to the retirement pension, which is the ultimate goal of insurance subscription.

The authority launched an awareness campaign under the name “a transparent vision for added insurance values” to define the added values ​​of benefits and advantages, during which it confirmed that six updates were introduced on the basis of installments for the costs of adding service, and the insured is now allowed to pay in installments the costs of adding the entire service period without requiring the reward to be refunded as a down payment. Likewise, the insured can pay the costs in one go or in monthly installments, so that the monthly installment is not less than a quarter of the salary, and the installment period does not exceed four years or the end of the insured’s service period, whichever comes first. He submits a new application to add another service period, provided that the first application is settled by calculating the added periods in proportion to the amounts actually paid, provided that the new total period is recalculated based on the new addition costs calculated on his contribution salary on the date of submitting the new application.

The authority explained that the updates included canceling the joining request if the insured fails to pay two consecutive or intermittent installments, and the added period is calculated in proportion to the amounts actually paid. A new previous service, in addition, the added periods will be calculated in proportion to the amounts actually paid in the event that the service of the insured ends without paying the full cost of the addition, and finally the obligation of the insured to pay the premiums for the cost of the addition if his service ends in death, provided that he paid 50% of the cost And if the value of what he paid is less than 50%, the rest of the percentage shall be deducted from the pensions of the beneficiaries.

• To add the service, the insured must be on the job with full payment of the cost before the end of the service.

Installment “optional” over 4 years

The General Pension and Social Security Authority said, “Insurance benefits from pensions and bonuses are calculated on the basis of the average of the last years of service for the entire period of service, including what is included in it. It is more than the cost of inclusion, bearing in mind that previous service periods may have been spent under different pension laws, and as a result, each insured person contributes part of his pension financing, which will positively affect his future pension and the financial sustainability of the pension system, and therefore on the public interest.”

She explained that the consideration for adding the service can be paid in installments over four years, and it can be paid in one payment or in installments less than that according to the insured’s desire, so that the cost of inclusion is calculated on the salary of the subscription account on the date of submitting the application for inclusion, multiplied by twenty percent, multiplied by the service period to be added in months and days.

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