Retirees' pensions start at 900 dinars
Libyan media outlets have indicated that the Social Security Fund has established a new mechanism for calculating retirement pensions, covering both mandatory and optional retirement. This mechanism is based on years of service and the average salary over the last three years prior to retirement. The pension calculation begins at 50% for those who have completed 20 years of service, increasing by 2% for each additional year until reaching 80% at 35 years of service. For example, if the average salary over the last three years is 2,000 dinars, the pension would be 1,000 dinars after 20 years of service and would rise to 1,600 dinars after 35 years. The minimum pension is set at 900 dinars, calculated based on the average salary and the length of service, with the entitlement percentage gradually increasing from 50% to 80%.
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