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Friday, 06 December 2019

Egypt's Sisi ratifies social security, pension law

MENA , Ahram Online , Friday 23 Aug 2019
El-Sisi
A file photo of Egyptian President Abdel Fattah El-Sisi (Photo: Egyptian Presidency)
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President Abdel Fattah El Sisi ratified Thursday the law of social security and pensions after it had been passed by the House of Representatives.

The cabinet has to issue the law executive regulations within six months.

The law will take into effect as of January 1, 2020.

Egyptian MPs voted in July in favour of a new Social Insurance and Pensions law presented by the government. 

The new bill aims to address challenges stemming from the application of social insurance laws and current pensions.

The bill is meant to radically resolve financial disputes between the public treasury and the National Investment Bank as well as prevent the emergence of any financial disputes in the future.

 

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