Bahrain27 October 20242 min read

MP Al Tamimi Proposes 10% Housing Loan Repayment Cap for Retirees

By By H Naser. A proposal has been submitted to the Bahraini Council of Representatives urging the government to reschedule housing loan installments for retirees, limiting deductions to a maximum of 10% of their retirement pension. The proposal, submitted by MP Bader Al Tamimi cites Article 68

Editorial Team Legacy

Published 27 October 2024, 8:00 · Updated 22:13

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MP Al Tamimi Proposes 10% Housing Loan Repayment Cap for Retirees

A proposal has been submitted to the Bahraini Council of Representatives urging the government to reschedule housing loan installments for retirees, limiting deductions to a maximum of 10% of their retirement pension.

The proposal, submitted by MP Bader Al Tamimi cites Article 68 of the Constitution and Article 128 of the Council's internal regulations. The proposal argues that the current 25% deduction mandated by the Ministry of Housing places an undue burden on retirees, particularly those with lower pensions due to shorter service periods or initially lower salaries.

The accompanying explanatory memorandum highlights the impact of rising inflation and the increased cost of living, emphasising the need to support this segment of the population who have contributed significantly to the nation.

The MP contend that limiting the deduction to 10% would alleviate financial strain and ensure a dignified standard of living for retirees.

The proposal stresses the importance of social justice and the public good, advocating for the government to reconsider the current repayment scheme. The proposal is now awaiting review by the relevant committee before being presented to the Council for consideration.

MP Al Tamimi Proposes 10% Housing Loan Repayment Cap for Retirees

Editorial Team Legacy

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