Friday 19 / April / 2024
Muscat: The number of pensioners registered with pension funds in the Sultanate increased by 8.6 per cent as at the end of 2017 to reach 91,745, compared to 84,479 pensioners in 2016.
According to the data released by the National Centre for Statistics and Information (NCSI), the total amount in pension benefits reached OMR414,391,746 in 2017 compared to OMR 399,244,664 in 2016.
The number of pensioners registered with the public pension funds reached 74,586, with the total entitlement amounting to OMR346,346,417.
The number of pensioners registered in private pension funds reached 17,159, with the entitlement amount at OMR68,045,329.
In 2017, 78,257 males, comprising 85 per cent of the total number of pensioners, retired from service while the number of female pensioners was 13,488.
The main reason for the end of service was the retirement age in the case of 42 per cent of males while resignation was the main reason for end of service in the case of female pensioners, reaching 46.4 per cent .Death was the second major reason for end of service in 16.9 per cent of males while reaching the age of retirement was the reason in 19.9 per cent females.
The number of male pensioners who reached the retirement age and were registered with pension funds reached 35,822.
Of them, the service of 14,177 pensioners ended due to death, of which 13,283 were males. There were 15,414 people whose service ended due to resignation, of which 9,143 were males.
Early retirement
The number of those who took early retirement was 14,029, of which 11,819 were males. The number of those who took mandatory early retirement was 4,715 of which 4,140 were males.
The lack of medical fitness resulted in the termination of the service of 4,783 people who were registered with these funds.
Of them 4,065 were males. As many as 1,648 pensioners were unemployed after losing their job, of which 1,557 were males.
The number of those who were receiving pension due to other reasons reached 1,157, of which 1,123 were males.
According to categories of wage subject to subscription, the largest number, reaching 42,037 was in the wage category between OMR200 and less than OMR400, followed by the category between OMR400 and less than OMR600, which stood at 26,813.
In the category of wages, the number of pensioners with wages between OMR600 and less than OMR800 was 7,037.
The number of pensioners with wages between OMR1,000 and more was 6,360.
There were 6,272 pensioners with salary between OMR800 and less than OMR1,000, and 3,226 pensioners with salary less than OMR200.
The number of insured employees transferred to the civil service pension fund last year was 1,840 compared to 142 pensioners who were moved out of it.
The number of insured employees transferred from the Public Authority for Social Insurance (PASI) increased to 2,290 compared to 63 employees transferred to PASI.
The number of insured employees in the system of workers abroad and those enrolled in the pension fund of the PASI was 1,830, of which 995 were in the United Arab Emirates, 364 in Qatar, 270 in Saudi Arabia, 99 in Bahrain, and 102 in Kuwait.
The number of insured employees active in pension funds subject to the Post-Service Pensions and Benefits Act was 438,862, of which 296,993 were males.
The number of insured employees in the age group between 30 and 34 years was 105,789, which was the highest. The employees in the age group followed them between 35 and 39 years, reaching 87,094, and between 25 and 29 years, reaching 85,047.
The lowest number, reaching 154, was in the age group of 65 years.The number of insured persons in the age group between 60 and 64 years was 2,302.
