About the Social Security Fund [Archives:2003/641/Letters to the Editor]

June 12 2003

Mohammed Abdullah
[email protected]

As a reader of your esteemed newspaper I hope you or your readers could help us find answers through your paper! Many friends of mine are eager to address this issue to you and voice it to concerned organizations for clarifications.
The issue concerned is Social Security Funds that are collected from us by the government monthly. We are employees in joint-ventures government and foreign companies operating in the oil sector. The oil companies pay 15% of employees' salaries from its account for the employee as security to employee given to the Social Security Fund organization. Some of the employees have been for about 18 years in service and throughout, their salary was deducted 6% as social security per month. The funds are used by this organization for investments and then earns profits and interest from them. While the employee deductions and accruals are not given interest at all! Social security for the employee has to include interest. It should be like an account deposit. Also whenever an employee needs to quit the country or rather have his money in his/her hand the organization deducts 20% of the money in account as service. Many suspect there is foul play on employees' funds going on in this parasitical body
I hope you or people concerned could shed some light on this issue. Briefly, it is all about 15% of employees' money + 6% of the salary. This money has no interest given while the organization benefits from its own investments. Employees do not benefit. Deceased employees' families could get paid monthly, but only meager payments are given. On some occasion, you need to involve bribery and corruption to get anything you want.