In the government sector & as an employee of the civil service, if you resign after 20 years, you are entitled to 80% of your basic salary as your pension

Does the above apply to private sector as well?

Reliable answers please, no I think, I heard, I assume or I know someone

Yes .. I believe they do get it too .. not from the company or the organization that they used to work in though .. but from 'wizarat shu2on al 3amal' (I am not sure what's that in English but basically it is the ministry responsible for the employment? .. not sure of the name! :os) .. but yes they do get after their retirement .. and like public sector .. of course it is taken from their salary while they work ..


P.S .. mabrook for those who just got increased in their retirement payments :cute:

[AB], you perhaps misunderstood the question

I know that private sector employees get pension, but do they get 80% of their basic salary as their pension after only 20 years of service?

One more point, a civil service employee can get his retirement after 20 years of service & then join private sector, I'm not sure if a private sector employee can do that

I think it depends on the company, and I'm not sure all provide a pension. But if they don't, is there any pension you get back from your social security payments?

By the way, 80% after 20 years is amazing. Damn...if I had stayed in the public sector for just four more years maybe I'd have got that too? NOT! 50% after 40 years more like...and that's not bad compared to most private ones...

But paying a pension like that is totally unsustainable surely? It doesn't make any economic sense: A guy could retire after 20 years and draw 80% of his salary for another 50 if he lived a long life...that means he would earn double after retirement what he earned while working!

[AB], you perhaps misunderstood the question

I know that private sector employees get pension, but do they get 80% of their basic salary as their pension after only 20 years of service?

One more point, a civil service employee can get his retirement after 20 years of service & then join private sector, I'm not sure if a private sector employee can do that

No they cant. the calculation of Privet pension is different. I will get back to you with the exact rule.

I think it depends on the company, and I'm not sure all provide a pension. But if they don't, is there any pension you get back from your social security payments?

But paying a pension like that is totally unsustainable surely? It doesn't make any economic sense: A guy could retire after 20 years and draw 80% of his salary for another 50 if he lived a long life...that means he would earn double after retirement what he earned while working!

In Oman it doesnt depend on the company. Most private sector (excluding some government owned ones) must join PASI (Pension Fund).

The money contribution that you pay each month is invested which means that the amount would actually doubled its only fair the employee who worked 20 years get a share of it.

PASI scheme is as followed:

After completing 45 years of age or 20 years of service, you can get a retirment package but it would be only 40 to 50% of your basic.

If you completed 32 years of service you get 80% or if you got the retirment by age (60 Years).

But paying a pension like that is totally unsustainable surely? It doesn't make any economic sense: A guy could retire after 20 years and draw 80% of his salary for another 50 if he lived a long life...that means he would earn double after retirement what he earned while working!

Many do that, they serve in the government sector for 20 years & resign in their early or mid 40's, get 80% of the basic as the pension & then join private sector with a quite decent salary

I can retire in my 50's here in the states as a government employee. I can buy back my active duty time in the military, transfer it to the civil service and get out in another 14 years if I so wish.

I can retire in my 50's here in the states as a government employee. I can buy back my active duty time in the military, transfer it to the civil service and get out in another 14 years if I so wish.But do you get 80% of your base pay?

I will in my private sector job but have to have 35 years service and be 65 years of age to get that. Have to take a 3% cut per year before 65.

From what I understand I won't get 80% but more than likely half. I had an uncle who made $8,000 USD as a civil servant per month and his retirement pay is half of that. Still good but I am no GS14

But paying a pension like that is totally unsustainable surely? It doesn't make any economic sense: A guy could retire after 20 years and draw 80% of his salary for another 50 if he lived a long life...that means he would earn double after retirement what he earned while working!

to make it clears it's 80% from the basic salary not included the Allowances and if you reached a certain age you'll have to retire according to the law.

In Oman companies are not allowed to have private pension funds. Companies have to register their employees with PASI and pay their contributions there. PDO is one of the few companies that has a private pension plans.

The PASI pension is horrible. In Oman basic salaries are very low, and PASI pays you pension based on your basic salary alone. If you're smart buy yourself a forced saving plan in addition to your PASI pension.

You can find out more about PASI from their website: www.taminat.com

Muscati, after serving long years in the private sector & going on pension, can the individual join another private company or any government institute?

If they were in civil service they can retire and then join private sector, I dont know if the opossite is possible.

You can continue working elsewhere, but you can't continue to accumulate pension benefits. Ya3ni in the new job they won't be contributing anymore to your pension. They'll probably offer you lower pay because they'll say that you're already getting pension income.

I think this whole scheme is only relevant when it comes to technical jobs, as opposed to general clerical or administrative jobs.

Working for 20 years in a government institute (administrative or clerical, without generalizing) will only make you less wanted in the private sector.

Either way, I work in the government sector now, and I don't see my self wanting to leave unless I stop progressing and learning. I am lucky to be working under bosses open to new ideas and progress, thats all. Besides, I am in a technical position.

Many do that, they serve in the government sector for 20 years & resign in their early or mid 40's, get 80% of the basic as the pension & then join private sector with a quite decent salary
As far as I know, for early retirement in Oman, you don't get 80% of the basic salary like retiring at the age of 60. In early retirement you rather get only 60% of the basic salary as monthly pension.

If it was 80% like retiring at the age of 60, then everyone in the country would have had an early retirement at their 40's ... or is the law changed ?

As far as I know, for early retirement in Oman, you don't get 80% of the basic salary like retiring at the age of 60

You do get

Civil service employee, 20 years of service, resignation = 20% of the basic salary as the pension

After 15 years = 60% of the basic salary as the pension

Regardless of the age

Right now I could retire as exhausted my civil service job makes me.

I contribute a certain % to my federal retirement fund which the govt. matches. We have various accounts such as the TSP-Thrift Savings Plan which you can also borrow off of i.e. to buy a house etc.

I can retire in my 50's here in the states as a government employee. I can buy back my active duty time in the military, transfer it to the civil service and get out in another 14 years if I so wish.


I wouldnt do that if I were you. Go home and enjoy your retirement, why slave for another 14 years?