Kuwait – Insurers can offer retirement pension
Wednesday, 07 20 2016, Category: Insurance and Reinsurance, Country: Kuwait
A correspondence issued by the Public Institution for Social Security revealed that local companies where they are investment funds or insurance companies can establish private insurance and retirement programs similar to the program offered by the Public Institution since the Public Institution only covers Kuwaiti citizens and there are no legal barriers for such activities.
However, the regulation and supervision of such activities falls outside the scope of the responsibilities of the Public Institution for Social Security. Therefore, they will be regulated by the Capital Markets Authority and the Ministry of Commerce & Industry.
Source: Al Qabas