On March 20, 2023, Prince Nasri reported that President Abdel Fattah El-Sisi had directed the Social Insurance Authority to implement a social protection package that would increase wages and pensions, and disburse them starting from April 2023 instead of July. Major General Jamal Awad confirmed in an interview that the pension increase would amount to 15% with a minimum increase of 170 pounds and a maximum increase of 1635 pounds, and Parliament had approved the implementation of the increase from April 2023. Awad assured that no pensioner would be harmed by the decision to increase, and 11 million citizens would benefit from the annual cost of 55 billion pounds. In addition, pension exchange cards have been changed to smart cards within a year and a half, which can be used to pay utility bills and more.
Prince Nasri wrote
Monday, March 20, 2023 10:47 PM
Major General Jamal Awad said Social Insurance Authority On March 2, President Abdel Fattah El-Sisi directed a social protection package to improve wages in the state, increase pensions and disburse them starting from April 2023, instead of July.
The head of the Social Insurance Authority, during a telephone interview with him on the “On My Responsibility” program broadcast on Sada Al-Balad channel, pointed out that the pension increase amounted to 15%, with a minimum of 170 pounds and a maximum of 1635 pounds, indicating that Parliament approved the increase in pensions, and the implementation will be From next April.
Major General Jamal Awad commented: No pensioner will be harmed by the decision to increase, and 11 million citizens will benefit from the increase at an annual cost of 55 billion pounds, and the 3 months of early disbursement of pensions for July made their financial difference 14 billion pounds, and the increase in pensions increased in the past years from the beginning of the implementation of the law 148 increased in 7 2020, 72021, 4 2022, and 11 2022 exceptional grants with a deducted amount of 300 pounds that cost 32 billion pounds to the state, and the 15% is now spent in 2023, and in 2021/2022 pensions of about 300 billion pounds were disbursed, and this was for a number in 2019 amounted to 160 billion pounds.
And he continued: Within a year and a half, 6 and a half million pension exchange cards were changed to smart cards, with which “water, electricity, and gas” bills can be paid, such as visas, and we are waiting for 190 billion pounds from the state treasury in the new budget.
In conclusion, the Egyptian government has taken a remarkable step towards improving the livelihood of pensioners in the country. The decision to increase pensions by 15%, with early disbursement starting from April 2023, will undoubtedly have a positive impact on the lives of 11 million citizens. Major General Jamal Awad’s assurances that no pensioner will be harmed by the increase are reassuring, and the government’s efforts in implementing smart cards for pension exchange and bill payments are also commendable. It is hoped that this latest initiative by President El-Sisi’s administration is one of many steps towards ensuring a brighter future for Egypt’s pensioners.