Egypt's President Morsi raises military pension rates by 15 pct

Ahram Online, Monday 2 Jul 2012

Morsi increases pension allowances for members of Egypt's armed forces by 15 pct after doing same for public-sector employees

Recently-inaugurated President Mohamed Morsi on Monday issued a decision to increase military pension rates by 15 per cent – rather than 10 per cent, as was called for by Egypt's Cabinet on Sunday – according to Morsi spokesman Yasser Ali.

On Sunday, Morsi also raised bonuses on public-sector salaries by 15 per cent and monthly social-insurance pension rates from LE200 to LE300.

Ali said that Morsi, following discussions with interim Prime Minister Kamal El-Ganzouri, had decided to raise military pensions by 15 per cent as well, so that military pensioners might enjoy equal payouts with state employees.

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