Guitaret wrote@Tech Guru, I hope you got what you are looking for, and that the person is OK.
Sorry to bring another topic (but within the health sector):
I am leaving my current job soon and I am wondering about withdrawing my 10 years NSSF end of service indemnity.
Should I do it? Is there any hope that they will increase it (more than 1500LL) moving forward?
Hello , yes pull the trigger mate. NSSF has already submitted a proposal to the central bank to calculate the end of service indemnity on the bases of 3900. It needs a law to be passed in the parliament. Personally , I think it will be rejected or it will not happen anytime soon. More money need to be printed without coverage , creating further inflation added on the hyper inflation Lebanon has been witnessing. However if it's approved , it will be retroactive from the begining of 2020 and on. In other words , if you withdraw the amount now it will be calculated on 1500 and when the proposal is approved 3900/1500 = 2.6 × calculated end of service - amount drawn on 1500 from 2020 and on.
Basically for now your end of service = (last basic salary* × 10 years) × 65%
In case the salary is given on 15 months =(last basic salary × 15) / 12
Also note that NSSF will give you a cheque of your end of service amount. You need to deposit in the bank. Due to the elusive " capital controls ", if you do not have a internal bank nepotism , the amont will be freezed for three months then you can with draw with a max ceiling od 20 million LBP. Say your end of service is 100 million LBP , after three months you will withdraw each month 20 million for a period of five months.