The Forth Chapter: Calculation of Retiree Salary and Lump-Sum

Article (23): Retirement pension shall be calculated on the basis of (1/420) one fraction out of four hundred twenty of the latest basic wage for every month of actual service and in calculation the period of service, the fraction of the month shall be instated if it was more than a half and being ignored if it was less than that.
Article (24): End of service Lump-Sum payment shall be calculated on the base of (9%) of last basic wage for each completed month of actual service in condition a period of service not less than a completed year.
Article (25): The employer shall pay the dependents of the insured party at a time of his death a cash death indemnity equal to two months of his basic wage and to be paid at the time of being informed in according with the death certificate issued by the civil registration office to cover the insured party’s funeral and burial expenses.
Article (26): If the service of the insured party comes to an end due to a natural death or a total permanent disability other than the work-related injuries case, he shall be eligible for a retirement pension from the Authority according to his actual service with stipulation that the pension amount is not less than the minimum standard of wages or a half of his last basic wage whichever is larger.
Article (27): The retirement pension shall not be less than the minimum standard of common wages with all cases which are eligible for retirement in accordance with the provisions of article (19) of this Law.
Article (28): The insured parties under the provisions of this law are eligible to receive a retirement pension with (100%) of basic wage received at the time the period of actual service has reached to (35) years in complete and pension shall not increase more than the basic wage entitled to, at the date of reaching the service period indicated to it at the previous paragraph, if increased more than that and other fiscal payment regarding the extra service period shall not be paid.
Article (29): If the retiree died, the Authority shall pay for the dependents two months pensions to cover the funeral expenses.

Article (30): 1) The insured party may replace a apart of his retirement pension with a cash money amount.
2) It might be possible for the replacer or his successor at any time to pay-up the remaining of the replacement installments in one total payment.
3) It shall not be possible for a dependent to replace a part of his defined pension after the death of the insured party.
4) The implementation order shall define the bases and rules of pension money replacement.