Pension funds under expert review every three years

TDT | Manama

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International actuarial experts are brought in every three years to assess Bahrain’s pension funds and recommend ways to address future shortfalls, according to the Social Insurance Organisation (SIO).

SIO chief executive Sahar Al Mannai explained that the reviews are required under a 2008 law, and the specialists are selected from globally recognised firms based on Bahrain’s procurement guidelines. The firms study the pension accounts, analyse economic trends and population data, and project how the funds will perform in the decades ahead.

Their findings help guide the government in closing the gap between current funds and future retirement obligations. The SIO has also created an internal actuarial team following a 2019 decree, aimed at boosting local capabilities and reducing long-term reliance on external consultants. Staff are being trained to take on more of the technical analysis work.

“These reviews are crucial to ensure the long-term stability of Bahrain’s pension system,” said Al Mannai.