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HomeNewsBusinessThe government denies having any plans to cut budgetary support for pensions

The government denies having any plans to cut budgetary support for pensions

According to sources, the government intends to lower the financial preparations for pensions in light of the current state of the world economy, but the Cabinet Media Center has refuted these claims as unfounded.

According to the centre, the authority stated that it was committed to upholding all of its fees and insurance rights for retirees and had no plans to cut them.

The National Authority for Social Insurance (NASI), which the centre said it contacted, categorically disputed such accusations, saying they are unfounded and devoid of any veracity, according to a statement released on Monday.

According to the centre, the Finance Ministry adheres to paying its obligations on time. The ministry paid the NASI around EGP 160.5 billion in the FY 2019/2020.

The centre, on the other hand, asked all media sources to seek neutrality and accuracy before releasing news, and advised them to get in touch with the relevant organisations to prevent causing misunderstanding among the general public.

Additionally, it was said that EGP 180 billion was paid to the NASI during FY 2021/2022 and EGP 170 billion was paid during FY 2020/2021.

News Summary:

  • The government denies having any plans to cut budgetary support for pensions
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Patrick Huston
Patrick Huston
As a senior editor, Patrick is a professional who is in charge of putting out business news. As a senior editor, Patrick is likely to be in charge of the duties of junior editors and writers, make sure the content is correct and high-quality, and work with other departments to make sure the business news is published on time. Patrick knows a lot about business and the latest market trends. He uses this knowledge to choose and edit stories that are both interesting and useful to readers. He also works with reporters and analysts to come up with insightful pieces that help readers keep up with the latest business news. Patrick is a very important part of keeping the public informed and interested in important business issues. He is passionate about journalism and strives for excellence.
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