Egypt always seeks to improve the income of employees in government agencies and pensioners. In view of the current economic updates, the government clarified the fact of increasing pensions and salaries in the new budget, which began to be implemented at the beginning of July.
In the past months, the state has taken many measures and measures to support employees and pensioners. It started implementing some of these decisions from last April, while it will start implementing others with the start of the new fiscal year this July.
The fact of the new pension increase for August
With the news of a 50% increase in pensions, many are beginning to question the validity of this news. The fact of the matter is that there was an increase that did happen, but it was 15%.
The Ministry of Solidarity clarified that it had disbursed this increase with the salary for the month of April. Pension beneficiaries can cash it from banks or any automatic teller machine. The current increase affected individuals as follows:
Those who earn 1300 pounds, so that they earn 1400 pounds. And whoever gets 2,600 pounds gets 2,644 pounds. As for the individual who earns 3500 pounds. He now earns about 4023 pounds.
Why pension is important for Egyptians
Pensions are sums of money that are paid periodically to individuals after a certain time of service or work. It can be a source of income after retirement, or after a period of service at work, and it varies according to the country and the institution. Planning for the future requires investing time and effort today to obtain a better tomorrow. Annuities are a crucial tool in this preparation.
By providing a stable source of income after retirement, individuals can better plan and prepare for the future. With the current economic fluctuations, pensions are more important than ever. It provides security and stability in light of the many life changes that may occur.
2023-07-17 23:22:32
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