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اليوم السابع
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Insurance Law Wage and Income Calculation Method
The article discusses the method of calculating the pension and settlement income in the Social Insurance system following the issuance of Law No. 148 of 2019, concerning Pensions and Social Security. It explains how the increase is linked to the inflation rate. The law specifies that the settlement salary is based on the period of contribution prior to the law's application, using the basic and variable wages, with an increase equivalent to the average inflation rate for each year up to the date of entitlement. It also clarifies that the gratuity is calculated at a rate of one month's wage for each year of contribution, taking into account periods calculated according to the previous Social Insurance Law. The method of calculating the gratuity varies between cases of reaching the entitlement age, death, and other situations. The article emphasizes the importance of determining and increasing the pension amount in a way that reflects the inflation rate to preserve the pension's value, noting that the systems for calculating gratuity and allowances typically consider the basic wage and the date of law implementation.
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