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Egypt approves 15% raise in military pensions

Egyptian Parliament [File photo]
Egyptian Parliament [File photo]

Egypt’s parliament yesterday approved a draft law to increase military pensions by 15 per cent, local media reported.

The bill’s approval was reported to have aimed for “equality” following a recent increase in the pensions of civil servants and state police.

Official sources told local media that the final vote on the bill was postponed for “another parliamentary session”.

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Under the law, former military officers will see a minimum pension raise of 150 Egyptian pounds ($8.80), or will get the sum of their total incurred benefits up to a maximum of 900 Egyptian pounds ($52.79). The law will come into effect on 1 July.

The secretary of the parliament’s National Defence and Security Committee said that the increase came “to improve the financial and social conditions of the retired military officers after the nationwide increase in the price of goods and services.”

This is the tenth raise in military pensions and salaries since President Abdel Fattah Al-Sisi came to power in 2014. Civil servants’ pensions have only been raised five times.

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