Dr. Youssef Boutros Ghali, Minister of Finance, decide to except pensioners and employees of Omar Effendi, from the application of the average base pay for the last seven years, when the value of the ...

Dr. Youssef Boutros Ghali, Minister of Finance, decide to except pensioners and employees of Omar Effendi, from the application of the average base pay for the last seven years, when the value of the pension due to them and that apply to employees of private sector firms, so as to application of the rules for workers in the public sector rather than that which Under the application of the rule is that the average wage for the last two years in the calculation of pensions of workers. Dr. Mohamed Al-Meit, Assistant of Minister of Finance said that Dr. Ghali also agreed to settle all the pensions of former workers at Omar Effendi, who applied to the average base pay for seven years so that the settlement on the basis of the average wage in the last two years and be re-settlement of all dues to those who were discharged the pension they have already applied that rule in addition to the payment of all outstanding differences as a result of re-settlement of such pensions. Dr. Meit said that this decision will have an impact on the improvement of pensions for pensioners and employees of Omar Effendi, which will be applied also to the current and future employees in the company, and explained that this decision came after a study of the regulations of employees of the company and verify the compatibility of the system include the company's remuneration with the Egyptian Social Insurance Act and pensions. Dr. Meit  Pointed out that this decision will contribute to solving the problem of pensions for more than five hundred families of former employees of the company of Omar Effendi, who applied to the former base, which will lead to improved pension in addition to that it would also lead to improving the pensions of workers who will leave the pension of that company in the future. (Ministry of Finance)