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Insurance authority reports pension growth
Egypt is moving towards raising the minimum pension to 2,080 Egyptian pounds starting January 2027. Currently, around 380,000 citizens receive pensions out of a total of 11.5 million retirees and beneficiaries. The value of pensions has seen a significant increase since 2019, rising from 1,730 pounds to 5,265 pounds today, as part of social insurance reform that began in 2021. The reform aims to ensure pensions reach approximately 80% of the last salary, considering the contribution period, and to enhance the financial sustainability of the authority, which has annual expenditures of about 550 billion pounds. Officials emphasized that these reforms are intended to improve pension values and the level of insurance protection for citizens.
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