91,745 people registered with pension funds in 2017

Muscat: The number of pensioners registered with pension funds in the Sultanate increased by 8.6 per cent as at the end of 2017 to reach 91,745, compared to 84,479 pensioners in 2016. According to National Centre for Statistics and Information (NCSI) data, the total amount in pension benefits reached RO 414,391,746 in 2017 compared to RO 399,244,664 in 2016. The number of pensioners registered with the public pension funds reached 74,586, with the total entitlement amounting to RO 346,346,417.
The number of pensioners registered in private pension funds reached 17,159, with the entitlement amount at RO 68,045,329. In 2017, 78,257 males, comprising 85 per cent of the total number of pensioners, retired from service while the number of female pensioners was 13,488. The main reason for the end of service was the retirement age in the case of 42 per cent of males while resignation was the main reason in the case of female pensioners at 46.4 per cent. Death was the second major reason for end of service in 16.9 per cent of males while reaching the age of retirement was the reason in 19.9 per cent females.
The number of male pensioners who reached the retirement age and were registered with pension funds reached 35,822. Of them, the service of 14,177 pensioners ended due to death, of which 13,283 were males. There were 15,414 people whose service ended due to resignation, of which 9,143 were males. The number of those who took early retirement was 14,029, of which 11,819 were males. The number of those who took mandatory early retirement was 4,715 of which 4,140 were males.
The lack of medical fitness resulted in the termination of the service of 4,783 people who were registered with these funds. Of them 4,065 were males. As many as 1,648 pensioners were unemployed after losing their job, of which 1,557 were males. The number of those who were receiving pension due to other reasons reached 1,157, of which 1,123 were males.
According to categories of wage subject to subscription, the largest number (42,037) was in the category between RO 200 and less than RO 400, followed by the category between RO 400 and less than RO 600 (26,813).
The number of pensioners with wages between RO 600 and less than RO 800 was 7,037. The number of pensioners with wages between RO 1,000 and more was 6,360. There were 6,272 pensioners with salary between RO 800 and less than RO 1,000, and 3,226 pensioners with salary less than RO 200. The number of insured employees transferred to the civil service pension fund last year was 1,840 compared to 142 pensioners who were moved out of it.
The number of insured employees transferred from the Public Authority for Social Insurance (PASI) increased to 2,290 compared to 63 employees transferred to PASI. The number of insured employees in the system of workers abroad and those enrolled in the pension fund of the PASI was 1,830, of which 995 were in the United Arab Emirates, 364 in Qatar, 270 in Saudi Arabia, 99 in Bahrain, and 102 in Kuwait. — ONA