By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
    CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
    September 30, 2023
    CBE Governor discusses cooperation with China Development Bank in Beijing
    CBE Governor discusses cooperation with China Development Bank in Beijing
    September 30, 2023
    eSIM technology to be tested by mobile operators in Egypt soon
    eSIM technology to be tested by mobile operators in Egypt soon
    September 30, 2023
    GAFI plans to set up financial service center in New Capital with Emirati-South African alliance
    GAFI plans to set up financial service center in New Capital with Emirati-South African alliance
    September 30, 2023
    Klivvr aims to become Egypt’s largest retail institution within 7 years: Chairperson
    Klivvr aims to become Egypt’s largest retail institution within 7 years: Chairperson
    September 30, 2023
  • Politics
    PoliticsShow More
    Israeli army kills Palestinian in West Bank
    Israeli army kills Palestinian in West Bank
    October 1, 2023
    Aswan Forum Secretariat ‘CCCPA’ briefs UN Country Team on upcoming edition
    Aswan Forum Secretariat ‘CCCPA’ briefs UN Country Team on upcoming edition
    September 30, 2023
    Egypt marks 20 years of United Nations Convention against Transnational Organized Crime
    Egypt marks 20 years of United Nations Convention against Transnational Organized Crime
    September 30, 2023
    Al-Sisi urges Egyptians to vote for change in upcoming elections
    Al-Sisi urges Egyptians to vote for change in upcoming elections
    September 30, 2023
    UN to send mission to Nagorno-Karabakh: Spokesperson
    UN to send mission to Nagorno-Karabakh: Spokesperson
    September 30, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Pensioners’ Solidarity Syndicate criticises their exclusion from pension discussions
Share
Notification
Latest News
Israeli army kills Palestinian in West Bank
Israeli army kills Palestinian in West Bank
Politics Region
CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
Business
CBE Governor discusses cooperation with China Development Bank in Beijing
CBE Governor discusses cooperation with China Development Bank in Beijing
Business
eSIM technology to be tested by mobile operators in Egypt soon
eSIM technology to be tested by mobile operators in Egypt soon
Business
GAFI plans to set up financial service center in New Capital with Emirati-South African alliance
GAFI plans to set up financial service center in New Capital with Emirati-South African alliance
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Pensioners’ Solidarity Syndicate criticises their exclusion from pension discussions
Business

Pensioners’ Solidarity Syndicate criticises their exclusion from pension discussions

Doaa Farid
Last updated: 2014/02/24 at 4:06 PM
By Doaa Farid 3 Min Read
Share
El-Beblawi held a high level meeting to discuss pension issues (Photo courtesy of the Cabinet )
SHARE
El-Beblawi held a high level meeting to discuss pension issues (Photo courtesy of  the Cabinet )
El-Beblawi held a high level meeting to discuss pension issues
(Photo courtesy of the Cabinet )

The Pensioners’ Solidarity Syndicate criticised the decision to exclude it in recent discussions regarding pensioners’ issues, said syndicate member Hoda Kamel.

On Sunday interim Prime Minister Hazem El-Beblawi met with the ministers of Finance, Social Solidarity and Manpower to discuss pension issues. The meeting was attended by head of the General Union of Pensioners, head of the Egyptian Trade Union Federation (ETUF) and representatives from pensioners and trade unions, a statement from the cabinet said.

El-Beblawi was expected to oversee agreements reached between the ministries of Finance and Social Solidarity and pensioners, according to the statement.

Kamel stated that the head of ETUF has not recently met with her syndicate to discuss their demands.

The Pensioners Solidarity Syndicate stated that the government owes pensioners EGP 600bn, as the National Investment Bank (NIB), a state bank managing public investment, had lent this money to governmental agencies “and has not provided pensioners with the interest owed to them”.

According to Law 119/1980, pensions and insurance funds are committed to depositing their surplus fund into NIB, which uses these funds to finance the investments of state agencies.

The Ministry of Finance denied in December that the money allocated for pensions and insurance and the state’s budget had been combined, adding: “[The ministry] hasn’t wasted or embezzled EGP 400bn from the insurance fund”.

“The pensions and insurance funds from 1980 until 2006 haven’t exceeded EGP 69bn,” a statement from the finance ministry said in December.

According to cabinet spokesperson Hany Salah, El-Beblawi stated during the Sunday meeting that pensioners’ rights are guaranteed by the new constitution and protected by the government, and added that “the pensioners are the only ones who should benefit from their money”.

Meanwhile, head of General Union of Pensioners Shoukry Azer stressed during the meeting that his union is keen on coordinating with the government in order to reach “the best methods to protect insurance and pension funds”.

The aim of this coordination is to “develop the resources for pension and insurance funds, and to reach a settlement with the Ministry of Finance regarding the pension issue”, Azer said.

“There’s a committee within Ministry of Social Solidarity that is tasked with listening to the demands of pensioners and directing them to the government,” Kamel said, adding that representatives from the Pensioners Solidarity Syndicate, along with general and independent unionists, are part of this committee.

In October, the interim government decided to increase the pensions of government workers by 15%, effective since January 2014.

Public expenditure on wages and compensations comprised EGP 141bn from the state’s budget in the fiscal year 2012/2013, representing a 14.8% increase year on year.

You Might Also Like

CBE Deputy Governor, Swiss State Secretary discuss economic cooperation

CBE Governor discusses cooperation with China Development Bank in Beijing

eSIM technology to be tested by mobile operators in Egypt soon

GAFI plans to set up financial service center in New Capital with Emirati-South African alliance

Klivvr aims to become Egypt’s largest retail institution within 7 years: Chairperson

TAGGED: Daily, Egypt, insurance, interim government, Ministry of Social Solidarity, News, Pensions
Share this Article
Facebook Twitter Email Print
Previous Article Egyptian fishermen in Saudi Arabia released
Next Article S.Sudan civilians reduced to scavengers on swamp islands
1 Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Israeli army kills Palestinian in West Bank
Israeli army kills Palestinian in West Bank
Politics Region
CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
Business
CBE Governor discusses cooperation with China Development Bank in Beijing
CBE Governor discusses cooperation with China Development Bank in Beijing
Business
eSIM technology to be tested by mobile operators in Egypt soon
eSIM technology to be tested by mobile operators in Egypt soon
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?