HE Qatar Finance Minister: Retirement Authority Draft Law Can Make World's Best Social Security System

Doha, January 10 (QNA) - HE the Minister of Economy and Finance Yousef Hussein Kamal said in a forward to the annual report of the General Retirement and Social Insurance Authority (GRSIA) that GRSIA moves consistently towards achieving objectives of Qatar's National vision for 2030 , through the constant pursuit to expand the coverage of social insurance to include all working citizens in the various business sectors in the state. "It sets as well the practical principles to perform the essentials aims of social, human, and economic development vision." That is illustrated clearly by the continuous increased number of employed entities subject to Law No. (24) year 2002, HE the Minister of Economy and Finance added. HE Yousef Hussein Kamal further said that for the purpose to establish the best social insurance system for the country on worldwide level, the GRSIA has completed the preparation for the new law, which will be issued shortly. The new law , HE the minister said ,will treat the problems and difficulties that were facing the practical application of current law, so as to maintain the sustainability and continuity of the fund for posterity. The GRSIA is preparing analytical and applied studies to add many advantages and benefits to the beneficiaries who will be subject to the provisions of the new law, in order to ensure the decent living for them and for their beneficiaries , based on justice and equality for all in the rights and benefits, without any discrimination, said the minister . Equal pensions' increment for all retirees from the government sector and non-governmental sector is deemed the best example. The annual report is deemed a communication instrument between GRSIA and Qatari society, believing in the right of everyone to know what is going on in this important edifice for the country and society, he said. On the occasion of issuing the report, HE the Minister extended thanks and appreciation to HH the Emir Sheikh Hamad bin Khalifa Al Thani, HH Heir Apparent Sheikh Tamim bin Hamad Al Thani and HE the Prime Minister and Minister of Foreign Affairs Sheikh Hamad bin Jassim bin Jabor Al Thani, for their continuous support and interest in developing the social insurance systems in the state, which enhance the implementation of the national strategy of the state 2011-2016. Meanwhile President of the GRSIA Turki bin Mohamed Al-Khater said that the year 2011 was exceptional for the GRSIA and retirees precisely, due to pensions' increment for all without any discrimination or exception according to the provision of the Emiri Decision No. (50) Year 2011, issued September 2011, in addition to the determination of the minimum pension limit before the increase, which met several of the desired needs of beneficiaries and hopes of the Fund in light of the steady rise in the current living expenses. Al-Khater stressed that GRSIA does its utmost efforts in order to strengthen and enhance its liaison with the employers and increase awareness of people to maintain the Fund's resources and diminish the risk of its depletion, in order to enable GRSIA to achieve the objectives for which the fund was established and to ensure a safe future for the society and incoming generations. "The report states that the number of retirees increased in one year to more than double over the previous years, and the number of contributors decreased, while they are considered as the main resources of the fund, Al-Khater said. This annual report is considered as a mechanism to measure the performance of GRSIA in all aspects, whether according to the GRSIA departments' service or according to its revenues, expenses and investments, he added. Turki bin Mohamed Al-Khater affirmed that GRSIA is eager to redouble the efforts and work, so as to maintain the pace of its development under the wise leadership of HH the Emir Sheikh Hamad bin Khalifa Al Thani, and HH the Heir Apparent Sheikh Tamim bin Hamad Al Thani. (QNA)