Sakr to LBCI: Some institutions were defaulting on payments to the Compensation Fund, and that is how it is funded

Georges Sakr, the director of the Teachers' Compensation Fund in private schools, explained, "The Compensation Fund was originally established in 1951 and amended in 1956. Since then until today, this fund has been providing compensation to teachers, similar to the compensations and calculations for teachers in the public sector."

In an interview on LBCI's "Nharkom Said" TV show, he pointed out, "In 2002, a Retirement Fund was established, specifically for the private sector, where teachers, under certain conditions, have the option to choose a retirement pension at the end of their service."

He explained that "the Compensation Fund is funded by deductions and contributions from institutions and teachers (6 percent from the teacher and 6 percent from the school). At the end of the service, compensation is calculated as in the public sector."

He emphasized that "the Retirement Fund is independent of the Compensation Fund and is not affiliated with it."

Additionally, he noted, "Some institutions were defaulting on payments to the Compensation Fund, and hence the idea of granting the fund 'a clearance' for the school emerged, making it mandatory for the school's budget in the interest of private education at the Ministry of Education." He considered it a "process to regulate the fund's revenues."

He pointed out that "compensations are deposited in banks in Lebanese currency, benefiting around 41,000 teachers, including retirees and those in service."