The Syndicate of Pharmacists of Lebanon has announced an increase in the monthly pension for retired pharmacists to $670, marking the highest retirement payout among all professional syndicates in the country.
In a statement issued Thursday, the head of the syndicate, Dr. Joe Salloum, attributed the increase to a series of internal reforms and financial restructuring efforts.
“The Pension Fund Committee has approved the increase as a result of administrative reforms, revised membership fees, and the diligent work of both the syndicate and pension boards,” he said.
He also credited the decision to the reserve fund accumulated through recent cost-saving measures.
Salloum added that the syndicate is also providing comprehensive health insurance coverage to nearly 1,000 retired pharmacists and their spouses, with full (100%) coverage.
“This costs the union over one million dollars annually and is financed through the subsidy fund,” he further noted, highlighting that the pharmacists’ union remains the only professional body in Lebanon offering such extensive health benefits to its retired members.
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