7/23/2019 Translation financial

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El Sisi’s 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 l Sisi yesterday !"o#ember $%, $&'()

on the amendment of some pro#isions of the Social Insurance *a+ +ill

result in radual doublin in the #alue of the pensions +ithin the comin

se#en years.

In his statements to Al Ahram Al Massai ne+spaper, the Head of the Social

Insurance Fund said that the amendment to the *a+ +ill applicable on those

co#ered under the -i#il Ser#ice *a+ "o. ' of $&'(, +hose basic salary +as

identified on /&010$&'( and +as increased by 23 +ith effect from '040$&'(.

So, this decision +ill ha#e a positi#e impact on the #alue of the pension of 

those, +hose ser#ice +ill end after '040$&'(, as it +ill be increased by 3after t+o years.

Mr. Hassan added that the increase of the ma5imum basic salary of the

subscribers to * ''$& +ith effect from '040$&'( and its annual increase by

'&3 +ill result in impro#in the #alue of pension. He indicated that the

ma5imum of the #ariable payment of the salary, +hich is * '/&, +ill be

annually increased by '(3 +ith effect from '0'0$&'( to reach * $''& by

'0'0$&'1.

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