By Mohamed Gamal
Following the government-approved pension increase implemented at the start of the month, alongside the implementing regulations of the new Civil Service Law, many pensioners faced difficulties collecting their payments. Omar Hassan, head of the Government Employees’ Social Insurance Fund, issued an announcement about pension disbursement.
Hassan said Social Solidarity Minister Ghada Waly had directed that pensions be paid early. Payments through National Social Insurance Authority outlets and its ATMs had been available since the first of the month, with no problems or delays across the governorates.
Pensioners using post offices and banks could collect from July 5. He said all would receive their pensions before Eid Al-Fitr without payment difficulties.
Update
Ghada Waly said returns on insurance funds invested in the stock exchange had been very good in recent years, at twice those of other investment instruments. Pension and insurance funds available for investment totaled E£100 billion. Remaining insurance funds amounted to E£585.8 billion, comprising money with the Finance Ministry, National Investment Bank, and insurance funds.
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Update
Social insurance authorities and the Social Solidarity Ministry released a report on conditions for payments to unemployed Egyptians after rumors that the ministry intended to pay an unemployment allowance of 250 to young people without work. Full details are available through this link:
Conditions for Receiving Unemployment Compensation from Social Insurance
Update
Social insurance and finance authorities announced employee bonuses and wages under the new Civil Service Law. The original text refers to a following link for details and figures, but includes no further link.