OMR18m spent per month on retirees’ pension in Oman

Business Wednesday 20/July/2016 21:04 PM
By: Times News Service
OMR18m spent per month on retirees’ pension in Oman

Muscat: The total number of retirees until the end of June this year were 46,379, who receive a monthly pension of OMR18,135,787, according to the mid-year statistical report issued by the Civil Service Employees Pension Fund (CSEPF).
The report pointed out that the total number of eligible heirs by the end of June stood at 32,857, who are receiving OMR3,819,797.
The number of first-degree heirs (sons and daughters) stood at 20,103, compared with 9,746 second-degree heirs (widows) and 3,008 third-degree heirs (father, mother, brothers and sisters).
The Governorate of Muscat had the highest number of eligible alive retirees and heirs at 12,771 or 21 per cent of the total number of retirees. The lowest number was in the Governorate of Al Wusta with 468 cases or 1 per cent of the total.
The report also cited the number of people at the end of service gratuity, which was pegged at 13,511, who received OMR53,099,642 as of the end of June.
The report also stated that the number of retirees in the first half of 2016 stood at 1,463, who are receiving OMR1,178,657, compared with 1,053 retirees during the first half of 2015, who received OMR809,064.
The average monthly pension for retirees during the first half of 2016 amounted to OMR806, compared to OMR768 during the same period last year.
While 312 employees retired after reaching the retirement age, 47 retired because of death, 45 for being medically unfit and 1,049 retired following resignation. The ‘end of service gratuity’ cases during the first half of 2016 were 106, who received OMR1,646,333.