We will start pouring out increases to retirees next May

The Minister of Labor and Social Security, Abdelhak Sayhi, revealed the date on which the increases approved by the President of the Republic for retirees would begin to be implemented, explaining that Algeria went through difficult economic conditions during the period between 2012 and 2016, which forced measures to be taken to preserve the balance of the national economy and ensure its financing, especially with regard to social security and retirement funds.

Saihi explained, in his response to an oral question by MP Khadija Belkadi, about relative retirement (32 years) without age requirement, during a plenary session dedicated to asking oral questions in Parliament, on Thursday, that the increases approved by the President of the Republic for the benefit of retirees will begin on the first of next May.

The Minister also highlighted the economic dynamism witnessed by Algeria, which allows the creation of more than 500,000 jobs annually, explaining that the economic dynamism and level of growth in our country gives great dynamism in the field of combating unemployment, and allows each year to create more than 500,000 jobs, adding that about 714,000 employment processes were recorded during the past year, which reflects the efforts made to support employment and reduce the unemployment rate.

The minister pointed out that pensions increased as part of the measures taken to improve the purchasing power of retirees.

On the other hand, the Minister highlighted the sector’s efforts to adopt digitization, which, as he said, is the best way to provide effective modern services in the field of work, employment and social security, and aims to improve performance and quality of public service, pointing to the digitization measures taken to coordinate between social security funds and institutions, especially in the field of declaring wages and contributions for the purpose of enhancing transparency in this field.

Regarding the application of labor laws, Sayhi pointed to the field role of the Labor Inspectorate, which is considered an essential mechanism in monitoring the extent of respect for the provisions of the law, in the field of work, employment and social security, which contributes to improving the work environment and supporting the national economy.