Logo of Phnom Penh Post newspaper Phnom Penh Post - PM pushes to close pension gaps

PM pushes to close pension gaps

Content image - Phnom Penh Post
Veterans attend a handover ceremony in Kampong Thom province’s Santuk district on February 10. FACEBOOK

PM pushes to close pension gaps

Prime Minister Hun Sen has told the Ministry of Economy and Finance to speed up the preparation of the budget to address the pension inequality of low-paid civil servants and veterans.

Speaking at the inauguration of the new Chaom Chao interchange in the capital’s Por Sen Chey district on March 31, Hun Sen said the government is going to take care of all retired civil servants and has been preparing a policy to raise the payout on pensions for them.

“Let me send this message to all retirees, both civilian and veterans, who have retired: We are working to increase your pension. We address this because those who have a salary of, say, one million riel [$250] get 800,000 riel when they retire, whereas those who have a salary of 500,000 riel get only 300,000 riel when they retire.

“[Finance minister] Aun Pornmoniroth, please lead the work to solve this issue. We’re prepared to increase the budget. I think that it won’t be necessary to adjust the national budget to do this because the amount isn’t that much because we’ll choose who receives it.

“For example, a retiree with a base salary of only 500,000 riel should have it increased by 30 per cent. Those with a base salary of 600,000 riel should be increased by 28 per cent. Those with a base salary of 700,000 riel should be increased by 25 per cent. We’ve come up with a formula to do this and those with pensions of one million riel are doing fine.

“I would like to send my regards to all the veterans as well as all those who have retired. I let [Kun Kim] bring some money and meet with the veterans and explain things to them,” he said, referring to the secretary-general of the Cambodia Veteran Association.

Sem Sovutha, a military veteran who has been retired since 1993 and now heads the Angkor Association for the Disabled (AAD), said he was grateful to the premier’s efforts.

“I am elated for my fellow veterans that [the prime minister] made this announcement and sped up this process. I am very happy because it has been very difficult due to the small budget for daily living expenses we’ve had,” he said.

He added that when he first retired in 1993 he received a pension of 100,000 riel and then from 2012 he received 300,000 riel, and then in 2020 his pension was increased to 640,000 riel.

“What is interesting is that my generation has been earning less money since 1990 or 1980. We do not know what the salary threshold is. The pensions are not equal to the veterans from 2000 onwards. In the year 2000, some of them with the rank of the captain had a salary of more than one million riel but our pensions are only 640,000 riel,” he said.

MOST VIEWED

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Pursat Ford assembly plant opens

    The Kingdom’s first Ford assembly plant was inaugurated on June 16 in Pursat province amid rising demand for brand-new vehicles among Cambodians. The facility is seen as a game changer for the domestic automobile industry, which could bring a wave of investors seeking to cash

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • $50B infrastructure plan en route

    The government’s upcoming $50 billion,10-year infrastructure master plan will provide tremendous investment opportunities for domestic and foreign entities, transport experts and economists say. Minister of Public Works and Transport Sun Chanthol revealed the plan to Japanese ambassador to Cambodia Masahiro Mikami on June 15. At

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro