A TOTAL of 5,591 Bahraini employees retired by the end of 2023, of which 2,021 were from the public sector and 3,570 from the private sector.
Ninety-three per cent of pensioners in the government sector and 89pc from private companies retired before reaching the age of 60.
The statistics were revealed in a written reply by SIO chief executive Sahar Al Mannai.
It was highlighted by Finance Minister Shaikh Salman bin Khalifa Al Khalifa, who is politically responsible for the Social Insurance Organisation (SIO), in response to a question by MP Jalal Kadhem Al Mahfoodh.
“The numbers clearly reflect that workers in both sectors are benefiting from early retirement systems,” said Ms Al Mannai.
“In 2023, 1,169 civil servants bought virtual (unworked) years to be eligible for early retirement, while 594 added virtual years to get better retirement deals,” she added.
“As for requests to add work periods in multiple private sector jobs for a unified pension, 179 requests were approved in 2023.
“The cost of all services, whether buying years or adding periods, on pensioners was BD7.5 million in 2023, with it partially covered on application and paid on convenient instalments for remaining amounts.”
Ms Al Mannai said the SIO is obliged to provide social insurance for vocational hazards to workers in both sectors.
“This insurance cover also includes Bahrainis working independently or in identified unregulated jobs, or are employers,” she explained.
“We are obliged to provide payments whenever vocational hazards occur, resulting in a worker getting affected.”
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