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The General Pension Corporation (PEP) unveiled on Saturday the details of the benefit-sharing system designed to protect the rights of retirees and maintain their pension benefits. The joint system combines periods of service in the public and private sectors in a lump sum to calculate the value of the pension.
The organization explained that the system ensures the safe transfer between the platform and the platform of the General Organization of Social Insurance, then brings together the entire period of work in one place to calculate the appropriate pension, when the system of the institution that worked before retirement from the calculation of the value.
"Retirement" has defined several conditions for the approval of a period of service prior to the subscriber: submit the application before the end of the service in the last system, not receive a premium or pension for that period, and age the participant does not exceed 59 years at the time of submission.
The institution also specified that the period to be included should not be less than one year, that the pension of the first system should not be due to a disability and that the extended periods should not complete the right to the pension.
Learn more about the benefit-sharing system. # Retirement company# Always with you pic.twitter.com/2sgbMfojH4
– General Pension Society (@PensionSA) March 2, 2019
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