The Kurdistan Regional Government has set a minimum monthly pension of IQD 500,000 for retired private sector workers.
The KRG Council of Ministers approved the measure with the support of Prime Minister Masrour Barzani. The council backed the decision unanimously.
Ministries to Implement Minimum Monthly Pension
The Ministry of Labour and Social Affairs will work with the Ministry of Finance and Economy to implement the new pension level.
Both ministries will draft and issue the instructions needed to apply the decision. The KRG has not yet announced when the first payments under the new rate will begin.
The measure sets a pension floor for eligible private sector retirees. It aims to provide a defined level of monthly income after workers leave employment.
Further details on eligibility, registration and payment procedures are expected in the implementation instructions.
Source: Kurdistan Regional Government Official Website — Department of Media and Information.
