Exceptions will apply to ‘work permit age limit policy’ introduced to maintain a fully funded state pension
February 26, 2022 – The Mount Vema government has confirmed in a written statement made available to VSBCnews that there will be exception to the new policy introduced to limit the number of work permits issued to people over 55 years of age.
The policy was introduced this month to ensure that applications for work permits are granted as matter of priority to people from 21 to 55 years of age, as part of a plan to maintain the state pension fully funded.
However, the policy has upset many companies with a work force made of people with unique skills and experience who are over 55 years of age, which forced the government to clarify the policy. The government said that exceptions will apply but people over 55 years of age must keep in mind the following:
If you have been offered employment in Mount Vema, you must apply for a Mount Vema ISN (Internal Security Number) also referred to in most countries as Social Security Number. It will enable deductions to pay for the systems that will support the enterprises that sustains the economy and the state pension.
You will need to have 10 qualifying years on your ISN record to get a Mount Vema State Pension. A person in Mount Vema may retire at whatever age he/she pleases. However, based on the old-age pension rules of the Kingdom, 65 is the retirement age. The point where a person stops employment completely. So that could affect anyone going to work in Mount Vema who is over 55 years of age.
However, the work permit policy will not affect those who are over 55 years, and who may retire at whatever age they please because of the following reasons:
1-The applicant although living and working in Mount Vema, might be able to contribute towards the State Pension scheme of their former country of residence.
2-The applicant lived or worked in another country in the past, where he/she might be eligible for that country’s state pension and a Mount Vema State Pension.