Kuwait’s Ministry of Finance has announced plans to transfer land worth over $8.1 billion to the state’s pension fund for investment purposes. The transfer aims to support retirees by strengthening the financial position of the institution, ensuring its sustainability, and reducing the actuarial deficit in its budget.
The ministry has initiated the process to transfer three land plots, covering a total area of 842,000 square meters, to the Public Institution for Social Security Fund.
Meanwhile, Kuwait’s Ministry of Interior has introduced new travel rules for expats who plan to leave the country. According to the new law, every expat must settle all traffic fines and violations registered against them before they can depart. These regulations are immediately effective, and expats are encouraged to comply with the legal requirements.
By implementing these measures, Kuwait aims to enhance the economic and financial stability of the pension fund while ensuring that expats fulfill their obligations before leaving the country.