El Sisis amendments to the social insurance law to double pensions

within seven years

Mr. Omar Hassan, the Head of the Social Insurance Fund, emphasized that
the Decree by President Abdel Fattah El Sisi yesterday (November 24, 2015)
on the amendment of some provisions of the Social Insurance Law will
result in gradual doubling in the value of the pensions within the coming
seven years.
In his statements to Al Ahram Al Massai newspaper, the Head of the Social
Insurance Fund said that the amendment to the Law will applicable on those
covered under the Civil Service Law No. 18 of 2015, whose basic salary was
identified on 30/6/2015 and was increased by 9% with effect from 1/7/2015.
So, this decision will have a positive impact on the value of the pension of
those, whose service will end after 1/7/2015, as it will be increased by 8%
after two years.
Mr. Hassan added that the increase of the maximum basic salary of the
subscribers to LE 1120 with effect from 1/7/2015 and its annual increase by
10% will result in improving the value of pension. He indicated that the
maximum of the variable payment of the salary, which is LE 1830, will be
annually increased by 15% with effect from 1/1/2015 to reach LE 2110 by
1/1/2016.
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