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Sunday, 25 August 2019

Egypt's cabinet approves bill to reform social insurance system

MENA , Thursday 27 Jun 2019
Egyptian Cabinet
Egyptian Cabinet (Photo: Al-Ahram)
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The cabinet on Thursday approved a draft bill to reform the system of social insurance and pensions.

 

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

 

During the meeting, Social Solidarity Minister Ghada Wali said 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.

 

The bill, Wali added, also aims for the continuation of the system of specific benefits, while establishing an independent fund for investment in social insurance funds, meanwhile creating a fund for real estate investment.  

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