Iraqi Pension Increase Amid Economic Adjustments
On October 24, 2023, the Iraqi Council of Ministers made a significant decision to enhance the financial support for pensioners. An additional payment of 100,000 dinars was approved for individuals receiving pensions below one million dinars, effectively raising the minimum pension in Iraq to 600,000 dinars.
Under the provisions of the Iraqi Pension Law No. 9 of 2014, the base pension is set at 400,000 dinars, which is supplemented by another 100,000 dinars designated for those facing challenging living conditions. This adjustment is aimed at aiding pensioners who are struggling to meet their financial needs in today’s economic climate.
Historically, the Kurdistan Regional Government had independently allocated the 100,000 dinars; however, the introduction of a unified Iraqi pension regulation led to the cessation of this supplementary amount. Soran Omar, an influential member of the Iraqi Parliament’s Economic Committee, has actively advocated for the restoration of these funds. He communicated with Prime Minister Mohammed Shia Sudani, urging an amendment to the Council of Ministers’ decision based on the needs of pensioners with salaries less than one million dinars.
On February 6, 2025, Omar confirmed that the Prime Minister would be sending an official correspondence aimed at reinstating this monthly 100,000 dinar compensation for all Iraqi pensioners. Despite these developments, it was clarified that this decision would not extend to the pensioners under the jurisdiction of the Kurdistan Regional Government, as established by the Council of Ministers’ stipulations.
In response, the head of the pensions board has suggested discussions with the Iraqi Council of Ministers regarding potential amendments to ensure that pensioners in the Kurdistan Region receive similar financial assistance. Such discussions could help bridge the gap in support for these pensioners and ensure equitable treatment across the Iraqi regions.
This increase in pension payments and the ongoing advocacy for inclusive policies underscore the broader economic considerations and governmental efforts to address the financial wellbeing of retirees within Iraq’s economic framework.
