Minister of Finance Dr. Youssef Boutros Ghali has announced that the Ministry has completed its revision of the court rulings for the social insurance law and which has been in process over the past 35 years.  The law has been filtered out and all obstacles eliminated and which have been irking citizens dealing with insurances.  Over 105 rulings have been unified into a single resolution to include all regulations governing the law in order to streamline processes and simplify measures among the classes.

Dr. Ghali had been in a meeting with head of the government insurance fund Rashad Salem and head of public private insurance fund  Ossama Shalabi to review the seven aspects of the draft law.

The chapters of the law includes the setting up of a social insurance entity with a defined job description and membership procedures.  The second chapter focuses on rules on defining and collecting fees.  The third chapter is on job injuries, the fourth on insurance against illness and means to prove disability, the fifth on calculation of benefits, the sixth on payment and the seventh chapter on general statutes.

The Minister announced that there is a current review of the ceiling on floating salaries which has been determined 15 years ago to adjust to the actual returns in order to insure that those insured do receive reasonable pensions.

The People’s Assembly is currently studying amendments to the law along several lines that assure equality between husband and wife in the rights of each to the insurances, reviewing value added tax in arrears on payments to match the current interest rates to alleviate burdens on businesses.  The draft law also offers reconciliation offers on businesses with large debts in view of accumulated interests for not paying fees and offering pensioners the right to receive both the pension and due pension on injury without a ceiling.  The Minister pointed to the amendments as offering value to those insured as part of a policy awarded by the Ministry of Finance.

(source : Ministry of Finance)