Babil: A representative from the Babil Governorate, Abdul-Hamza Munim Al-Khafaji, has emphasized the critical importance of managing retirees’ funds as a trust, ensuring they remain untampered and protected from waste. He highlighted that the retirement fund is not just a matter of financial and routine procedures but is crucial to the rights of many Iraqis who have dedicated years to state service.

According to National Iraqi News Agency, Al-Khafaji announced that the Committee on Regions and Non-Regionalized Provinces, Planning, and the Government Program recently reviewed the Pension Fund’s current status. This review covered its resources, obligations, financial deficit, delays in pension payments, and the non-disbursement of entitlements to eligible individuals.

He pointed out significant discrepancies in the number of retirees and beneficiaries among databases from the Ministry of Planning, the Ministry of Finance, and the Federal Board of Supreme Audit. These inconsistencies indicate a need for a comprehensive audit and data cross-referencing to establish accurate and unified figures, as effective public finance management cannot rely on conflicting data.

Al-Khafaji urged the Ministry of Finance and relevant authorities to reveal details about the Pension Fund’s investments over the years, including revenue generated and the economic feasibility of these investments. He also called for transparency regarding how the fund’s money was spent and the reasons behind the financial deficit.

He stressed the importance of providing clear lists of retirees whose pensions have been suspended across all provinces, detailing reasons for the suspension, and ensuring that citizens are not penalized for administrative errors or discrepancies within state institution databases.

Al-Khafaji underscored that safeguarding retirees’ rights requires significant reform in the Fund’s management, quicker digital transformation, the establishment of a unified database, and addressing outstanding debts and entitlements. He advocated for a reassessment of decisions that have burdened the fund without proper financial allocations.

He concluded by stating that retirees’ funds should not serve as a testing ground, and retirees should not bear the cost of mismanagement or ill-advised decisions. The oversight and legislative roles will persist in monitoring the situation, identifying shortcomings, and finding solutions to ensure the pension fund’s sustainability, protect retirees’ rights, and prevent any waste or corruption of their funds.