_1777352244987_250242181.png&w=48&q=75){kind=small}
Sisi approves social insurance law updates
President Abdel Fattah El-Sisi has approved amendments to the Social Insurance and Pensions Law, aimed at enhancing the financial sustainability of the retirement system. The amendment stipulates that the state's general treasury will pay an initial installment of 238.55 billion Egyptian pounds during 2025/2026. Starting from 2029, there will be compounded annual increases of up to 7%, along with an additional billion pounds annually for five years to support the system. The payments are to continue for a period of 50 years. The amendment also includes excluding extraordinary pensions and additional benefits from the annual installment.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)