Manama: The Social Insurance Organisation (SIO) has finalized all necessary preparations for disbursing the revised cost-of-living allowance to retirees. This initiative aligns with the state budget agreements made between the Legislative Authority and the Government.
According to Bahrain News Agency, the disbursement process, coordinated with relevant authorities, will include retroactive payments that cover the difference between the former and updated allowances for the months from January to April. The revised payments are set to be included with the April pension disbursement.
Sahar Rashid Al Mannai, CEO of the SIO, outlined the approved allowance rates: BHD 230 per month for pensions not exceeding BHD 700, BHD 205 per month for pensions ranging between BHD 700 and BHD 1,500, and BHD 115 per month for pensions exceeding BHD 1,500.
Al Mannai also mentioned that the SIO has informed all eligible retirees about the retroactive payments through text messages, sent separately from the standard monthly pension notifications. She emphasized the organization's commitment to maintaining the financial sustainability of pension funds while delivering services to retirees with precision and quality.