Hesham Kandil Plans Increasing Return On Insurance Funds

The Egyptian Prime Minister Dr. Hesham Kandil held a ministerial meeting discussing the possible methods for increasing the return on insurance funds, so as to plug the gap between the pension payments and pension contributions.

The Minister of Finance Momtaz El-Saeed, the Minister of Insurance and Social Affairs Nagwa Khalil and the Minister of Planning and International Cooperation Ashraf Al Araby, besides a number of experts attended the meeting.

The Cabinet spokesman Alaa El-Hadidi stated today that the pension contributions do not account for more than 40% of the monthly pension payments and the state incurs 60% of the payments.

These figures made the Cabinet search for new investment opportunities in order to increase the return on insurance funds, El-Hadidi explained.