800 billion dinars, the value of the money stored in the retirement reserve fund – New Algeria

The Minister of Finance revealed to Aziz Fayed, upon his arrival to the building of the National People’s Assembly to discuss the draft law containing the budget settlement for the fiscal year 2021, in a public session before the President and deputies of the lower chamber, the value of the funds stored within the National Fund for Retirement Reserves.

The minister said, in his response to an oral question by the parliamentary representative of the Movement for Society for Peace, Youssef Ajisa, that “the national savings stored within… National Reserve Fund Retirement is estimated at 800 billion dinars,” a figure that surprised the person responsible for the parliamentary question, and he stated in a statement to “elhiwar us” that “the National Fund for Retirement Reserves was created in 2006 and was financed at the beginning of its creation with 2 percent of the petroleum collection, so the percentage rose to 3 percent a year.” 2012, and by performing a simple operation, the money inside it was supposed to approach 20 billion dollars, which is equivalent to 270 thousand billion centimes.”

The value of the money stored within the National Retirement Reserve Fund is one of the measures mentioned in the paper he presented Parliamentary representative Youssef Ajisa to the Council Office includes all alternative proposals with numbers and statistics to respond to the reservations related to the financial impact raised by the Lower Chamber Office during the presentation by Representative Youssef Ajisa of the proposal to amend Law No. 16-15 dated the first of Rabi’ al-Thani in the year 1438 corresponding to December 31, 2016, which amends and completes the law. No. 83-12 dated 21 Ramadan 1403 corresponding to July 2, 1983 relating to retirement.

It is expected that the Council’s office, headed by Ibrahim Bougali, will broadcast a proposal directly after the Eid the law Which stipulates that benefiting from the retirement pension must be met by fulfilling one of the following two conditions: reaching at least the age of sixty. However, a woman can be referred to retirement at her request starting from the full age of fifty-five years, and spending at least thirty-two years at work. In return, workers who Those who have spent more than thirty-two years of actual work and who have paid social security contributions include a pension increase of 2.5 percent for each year of service.

For the proponent of the proposal, reviewing the retirement system has become an inevitable necessity with the increasing demands for the worker’s right to retirement, whether he has already paid his contributions or the worker who has spent 32 years of giving and service, especially after the disappearance of previous financial excuses and the recovery. Public treasury Foreign exchange reserves will reach the ceiling of $60 billion by the end of 2022.

He stressed that the matter is mainly related to the right of a large group of workers to benefit from a profitable retirement after years of work, especially for owners Hard professions And also reduce The unemployment By providing job positions for young people, thus allowing the injection of new, young energies into the national economy.