Khaberni - The steering committee for the Engineers Union retirement fund is convening next Wednesday for its final session to discuss recommendations emerging from the draft proposed reform plan for the fund, in preparation for submitting its final report to the Engineers Union Council.
The final session aims to discuss the recommendations based on six key reports addressing opportunity and project attraction, stimulating struggling projects and companies, investing in stocks, real estate, and lands, in addition to a report on evaluating the retirement system and its governing laws, a report on restructuring the union's assets and enhancing its efficiency, and a report on financial collection.
During the meeting, six different scenarios for dealing with the retirement fund will be discussed, containing various ideas and mechanisms for addressing existing challenges, in alignment with actuarial studies, enhancing the fund's sustainability, mitigating actuarial risks, and strengthening the investment portfolio.
The draft plan will be discussed as an initial consultative framework that is open to development and modification, within an organized institutional workflow aimed at enhancing transparency in data presentation and proposed reform directions, and unifying visions before moving to the subsequent institutional adoption phase.
The union has affirmed that all proposals will undergo actuarial, legal, and financial verification, and no reform path will be adopted except based on the actuarial results of the tenth study conducted by the General Institution for Social Security, expected to be released in May 2026.
Additionally, the draft report will address the historical and professional sequences of the retirement fund since its establishment in 1973, the phases and procedures it has undergone, along with reviewing previous actuarial studies and the importance of their recommendations, explaining the challenges faced by the fund in some stages, distributing the participating segments and categories, alongside exploring alternative solutions proposed to ensure the fund's strength and sustainability.
It is planned that the steering committee will submit its final report on Wednesday to the Engineers Union Council, in preparation for moving to the phase of presenting the proposals to the elected bodies, and starting the subsequent institutional and legal procedures according to the approved frameworks.
It is noted that the steering committee for the Engineers Union retirement fund was formed by a decision of the union council in June last year, and includes representatives from various components and union activities, alongside young engineers, engineers from the private sector, the education sector, the contracting sector, and engineering offices, to ensure representation of different engineer segments.
