The House of Representatives, during its plenary session last week, headed by Dr. Ali Abdel-Al, approved a bill presented by the government on “increasing the variable wage pension on special subsidies that were decided on 7 / 7/2006 and included only the basic salary on the date of entitlement to the pension, and a draft Amending some provisions of the Social Security and Pensions Law promulgated by Law No. 148 of 2019, once and for all, after of a vote calling by name in the package of 9 bills voted by the Council in one sentence.
This law adds to the series of victories obtained by pensioners and establishes their right to spend the five bonuses due from 2006 to 2015.
The amendments aim to move the date to determine the inflation rate, from July 1 to April 1, to allow the necessary time to approve the inflation rate on July 1 of each year, and to determine the rate of pension increase prescribed in Article (35) of the law, not less than the inflation rate and not more than Over 15%, according to the studies carried out to resolve financial entanglements with the state treasury.
The bill aims to improve the conditions of pensioners and achieve equality between them, in accordance with the provisions of the successive laws to increase the pension by 80% of the value of the private allocation, and disburse financial differences due to a maximum of five years, and achieve equality between pensioners before and after 7/1/2006.
The bill provides for the issuance of a decision to increase the pensions of the President of the Republic instead of the President of the Commission, given the impact of this decision on all pensioners and the public treasury.
The bill also provides to amend the rate of increase in the annual fee determined in accordance with Article (111) of Law 148 of 2019 that issues the Social Security and Pensions Law, which the Ministry of Finance will execute to the authority of the 5.7% to 5.9%, so that the premium and its annual increase include the cost resulting from applying the increase Financial differences established in the first article of the bill.
Next, “Echo of the country” reviews the number and value of the subsidies that the pensioner deserves.
– All those who left the pension on July 1, 2006 will receive only one bonus.
– All who left the pension on July 1, 2007 will receive only two bonuses, an increase of £ 50.
– All those who leave the pension on July 1, 2008 will receive 3 bonuses, valued at EGP 110.
– Everyone who left the pension on July 1, 2009 will receive 4 bonuses, worth £ 130.
– Everyone who left the pension on July 1, 2010 will receive 5 bonuses, worth £ 150.
– Anyone leaving the pension on July 1, 2011 will receive an increase of £ 160.
– Everyone who left the pension on July 1, 2012 will receive a £ 160 increase.
Everyone who left the pension on July 1, 2013 will receive a £ 120 increase.
– Everyone who left the pension on July 1, 2014 will receive a £ 120 increase.
– Everyone who left the pension on July 1, 2015 will receive a £ 120 increase.
When to increase pensions
With respect to the insured who returns to the field of application of the aforementioned social security law, which was previously granted any of the two increases established by this law or any similar increase determined by another law that deserves the better of the two increases.
Accumulated pension increases are recalculated in accordance with the provisions of laws and decisions No. 55 of 2011, 110 of 2012, 81 of 2013, 433 of 2012, 704 of 2012, 190 of 2014, 29 of 2015, 60 of 2016 , 80 of 2017, 99 of 2018, 74 for the year 2019 with respect to the increase in pensions, taking into account the increase in the pension in this article, while paying the financial differences due for a maximum of five years from of the date of implementation of the provisions of this law.
The increase in pensions prescribed in this article, and the financial differences mentioned in the previous paragraph, will be distributed to those who are entitled to them on 1/7/2020 in proportion to the pension paid to them. It will issue a decision of the Prime Minister with rules, provisions and deadlines for the exchange.
The public treasury will assume the value of the increase stipulated in this article, provided that it enters the charges that it pays to the Social Security Fund for article (111) of the Social Security and Pensions Law promulgated by Law No. 198 of 2019.
Beneficiaries of the new increase in pensions.
The number of beneficiaries of the decision to add 80% of the value of the last 5 pensioner bonds is estimated at more than two million pensioners.
The five bonuses are due to the people or employees who left the pension from 2006 to 2015, because in 2006 the government stopped adding the five bonuses to the basic salary of pensioners after leaving the pension age, but with the issuance of the Civil Service Law, the abolition of basic and variable salaries, for which pensioners are entitled to 80% of the basic salary, in accordance with the highest administrative resolution.
Conditions for obtaining the five bonuses
But there are conditions that those who obtain these five bonuses must meet, estimated at 80% of the basic salary, and these conditions are:
That the insured is on the date the service ends together for the aforementioned premium.
With respect to this increase, the value of the increase will be calculated on the basis of the value of the premium, attributable to the basic insured contribution rate stipulated in the aforementioned Social Security Law, and which does not exceed the maximum contribution rate in force each time.
