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Ghali: More than 700,000 Persons to Benefit from New Pension Rise


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News Date: 7/7/2010 12:00 AM  Ghali: More than 700,000 Persons to Benefit from New Pension Rise 
More than 70,000 pensioners, who cashed their monthly retirement funds by e-cards in the first four days of the current month, benefited from the new provisions related to raising low pensions, in the early implementation of the New Pension and Social Insurance Law, said Dr. Youssef Boutros Ghali, the Minister of Finance.

Dr. Ghali had given strict directives to all social insurance departments in various governorates to facilitate pension disbursement procedures and establish committees to respond to pensioners' enquiries about pension raises, in addition to solving immediately any problems they may occur. Any pensioner who may have a problem with the amount of his monthly retirement funds shall go to the National Social Insurance Authority (NSIA), or the nearest insurance office under the umbrella of the social insurance funds to lodge a complaint against, Dr. Ghali pointed out.

According to the Finance Minister, this is the first time to apply two simultaneous raises to the pensions: the first will apply to all the current 8 million pensioners, whereas the second raise will be confined to 3.7 million low pensioners and their families, who get less than L.E. 370 monthly.

(Source : Ministry of Finance)

 

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Ghali: More than 700,000 Persons to Benefit from New Pension Rise