17 June 2014

Egypt: Pensions to Rise By 10 Pct Starting July - Presidency

Cairo — Egyptian President Abdel Fattah al-Sisi has issued a decree to increase pensions by 10 percent starting next July, Ihab Badawi, the presidential spokesman, said on Tuesday.

Accrued pension that are dated before July 2014 will be entitled to this increase.

"The public treasury will bear the financial burden of implementing this decision," Badawi said, adding that the Minister of Social Solidarity will issue a legislation to regulate its provisions. ‬ ‬

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