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Sunday, 21 October 2018

Social Solidarity Ministry to present new Social Security and Pensions Act to cabinet soon, as FinMin drafts law to give financial inspectors powers of arrest

LEGISLATION WATCH- The Social Solidarity Ministry is expecting to present a draft of the new Social Security and Pensions Act to the Madbouly Cabinet as soon as ministry officials complete their final review of the bill, Deputy Minister Nevine El Qabbag told Al Shorouk. Under the new law, pensions (which are governed by their own law) would fall under the larger umbrella of cash subsidy programs, according to El Qabbag.

The law would also introduce two new cash subsidy programs, Igatha and Forsa (alongside the existing Takaful and Karama programs) in addition to amending the overall framework governing social welfare and pensions programs, according to El Qabbag. We had heard that the law would also guarantee the right to unemployment benefits and establish a new pension fund and is set to be presented to the House of Representatives during the current legislative term. Social Solidarity Minister Ghada Wali had said in June that the new law was with the Finance Ministry for review.

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