Ministry of Solidarity Plans to Raise Age of Retirement to 65

Egypt is introducing a new amendment to the Social Insurance and Pensions Law, which will increase the pension age gradually to 65 by July 2040.  Earlier in 2020, Egypt made fundamental changes to its social security system, implementing a new law that overhauls previous policies relating to coverage, financing, qualifying conditions, benefit formulas, and benefit adjustments. The changes to the age of retirement will apply to workers within the state’s administrative apparatus and those abroad.

The move aims to standardize insurance benefits for all, while decreasing the mounting financial deficits. Experts at the International Labor Organization and the World Bank suggested raising the pension age to ease the financial burden and prevent a shortfall in cash flows.