PM directs the establishment of a “unified retirement platform” and diversification of the Pension fund’s investments

Baghdad-INA  
Prime Minister Mohammad Shia Al-Sudani directed today, Wednesday, the establishment of a “unified retirement platform” and the diversification of the retirement fund’s investments, while indicating the need for the retirement fund’s board of directors to seek the assistance of specialized experts and consultants in the field of investment development.
 
 
The Prime Minister’s Media Office said in a statement received by the Iraqi News Agency (INA): “Today, Prime Minister Mohammad Shia Al-Sudani chaired a meeting to follow up on the work of the Retirement Fund in the presence of the Minister of Finance, the Head of the Retirement Authority and the Director General of the Retirement Fund,” indicating that “ Al-Sudani reviewed the study prepared by a specialized team of advisors regarding the work of the Retirement Fund and reaching an integrated vision to improve the reality of the services provided, in terms of securing the appropriate building and developing the infrastructure for electronic systems. The obstacles facing the Fund’s work and the recommendations taken to address them were also explained.”
 Prime Minister stressed that “citizens evaluate the performance of the state and its institutions by the extent of the services provided to them, especially those who spent many years in the job and pension payments, which requires improving the services provided to retirees and alleviating their suffering, as well as finding ways to ensure the sustainability of the fund’s money.”
Al-Sudani directed the Board of Directors of the Retirement Fund to seek the assistance of experts and consultants specialized in the field of investment development and to prepare a strategic plan that works to diversify the fund’s investment basket and explain the available investment opportunities and transform them into profitable projects, in a way that ensures increasing the fund’s income and benefiting from the experiences of developed countries in this regard, as well as supplying the fund with a group of specialized employees.
He also directed, “to prepare an executive action plan to automate all services provided to retirees and beneficiaries according to a timetable, and to create an application (the unified retirement platform) and sub-platforms for all state departments, with the aim of bypassing red tape and bureaucracy and facilitating the completion of administrative and financial procedures for collecting pension contributions, referrals to retirement, and completing the internal system to the Fund and to fulfill the instructions of the Retirement Law.”