21Aug 2018
Tuesday

MP's in Kuwait pass early retirement law

Updated : Wednesday, 16 May 2018, 03:01:37 AM
It will allow employees to retire with full pension benefits.
Vinila Elizabeth Varghese
By Vinila Elizabeth Varghese
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Kuwait City (IAMINKUWAIT): MP’s in Kuwait passed the early retirement law with a big majority but all cabinet ministers present at the voting rejecting the legislation casting doubts that it will be accepted and applied. The law allows female and male Kuwaiti government employees to retire with full pension benefits after serving for 25 yrs and 30 yrs respectively, regardless of age. The legislation , which was passed by 43 votes in favour and 16 against , also allows employees to seek retirement earlier but they will lose some of the pension benefits especially pension pay .

 

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Kuwait gold daily market price in global currencies
CommodityUnitPrice(KWD)Price(USD)Price(INR)Change%
Gold1 Tolas 135.7447.1831207.88 -6.98%
Gold1 Ounce 361.891192.5783226.38 -6.97%
Gold 18K1 Gram 8.7228.742005.4 -7.04%
Gold 21K1 Gram 10.1833.552341.17 -6.95%
Gold 22K1 Gram 10.6735.162453.85 -6.97%
Gold 24K1 Gram 11.6438.362676.93 -6.95%
Silver1 Kilogram 144.15475.0333151.18 -0.01%
Silver1 Ounce 4.4814.761030.3 0%
Silver1 Gram 0.140.4632.2 0%