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Social insurance system: No, closed in 2008: N/A Armenia: Social assistance: Social insurance system: Mandatory individual accounts: Voluntary pensions Australia: Social assistance: Mandatory occupational pension system: N/A: N/A Austria: No: Social insurance system: Occupational pensions: Private pensions Bahrain: No: Social insurance system ...
Bahrain has a universal health care system, dating back to 1960. [1] Government-provided health care is free to Bahraini citizens and subsidized for non-Bahrainis. Healthcare expenditure accounted for 4.5% of Bahrain's GDP, according to the World Health Organization .
Former Member of the Editorial Committee for Social and Labour Studies Publications. Received His Majesty the King's "Medal of Bahrain", (National Day, December 16, 2016). Received His Majesty the King's Medal of the First Class Efficiency as one of the pioneer national workers (National Day, December 16, 2009).
Under the Social Insurance Law of 1976, both Bahrainis and migrants were eligible for pensions. However, later on, the system was changed so that only citizens were eligible for pensions, and both public and private sector employers were required to give their migrant workers end-of-service bonuses. [ 5 ]
Small numbers of persons are covered by tax-funded government employee insurance or by social welfare insurance. Private supplementary insurance to the sickness funds of various sorts is available. It adds coverage for extras such as eyeglasses and dental care. In 2005, Germany spent 10.7% of GDP on health care, or US$3,628 per capita.
The government has used its modest oil revenues to build an advanced infrastructure in transportation and telecommunications. Bahrain is a regional financial and business center. Tourism, especially from the region, has proved another significant source of income. Bahrain has benefited from the oil boom since 2001, with economic growth of 5.5%.
Social Security gets the bulk of its revenue from payroll taxes. Each year, a wage cap is set that determines how much income is taxed for Social Security purposes. In 2024, the wage cap sat at ...
Full funding is a desirable goal for private pension plans as well, but is often not achieved. Social insurance programs are often not fully funded, and some argue that full funding is not economically desirable. [17] Most international systems of social insurance are funded on an ongoing basis without reference to future liabilities.