Over 70,000 benefit from pension fund

Muscat: The total number of people benefited from the Civil Service Employees Pension Fund (CSEPF) has reached 70,584 until January this year including 36,507 pensioners.

According to figures released by CSEPF, the total value of monthly pensions stood at RO 26 million with an average pension of RO 470 While males constitute 79 per cent of pensioners and the average age of retirement is 50 years, the average period of service is 20 years.

In January this year, 122 employees retired of whom 91 per cent are males with an average age of 57 years and an average pension of RO 872, the figures show. The average rate of change in pensioners’ number from 2009 to January 2019 was 5 per cent and the total number of subscribers stood at 171,617 as of January this year.

Muscat Governorate registered the highest number of beneficiaries from CSEPF with 15,172 making up 22 per cent of the total pensioner number followed by Al Dakhiliyah Governorate with 10,445 (15 per cent), North Al Batinah Governorate (8,698), South Al Batinah Governorate (8,238), Dhofar Governorate (8,066), South Al Sharqiyah Governorate (6,675, North Al Sharqiyah (5,552) Al Dhahirah Governorate (3,605), Musandam Governorate (1,507),  Al Buraimi Governorate (1,404) and Al Wusta Governorate (551).

Oman Observer

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