Pensions disbursed through Egypt Post increase by 13.2%

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The number of pensions disbursed through Egypt Post offices rose from 61 million accounts in the fiscal year (FY) 2014/2015 to 65.1 million accounts in FY 2015/2016. According to a source at Egypt Post, the value of these pensions registered 55.7billion pounds in FY 2015/2016, up from 49.2billion pounds— an increase of 13.2 percent.

The size of deposits and money invested at Egypt Post reached 188 billion pounds in the first half of FY 2016/2017. The authority was also able to boost the number of saving accounts to 24 million by the end of December 2016, compared to 23.1 million in May 2016.

The offices of Egypt Post have turned into integrated service centres after providing the services of the Civil Registration Department, developing the offices, and digitising their services. They have turned from offices that provide only services of post or pensions to places that provide many services including paying bills and taxes, renewing traffic licences in some governorates as a first phase, and paying the fees of some universities.

Egypt Post achieved a 1.041billion pounds surplus in the FY 2015/2016 budget compared to 165 million pounds in FY 2014/2015. Also, the financial statements of the first quarter of the current FY show that it achieved a surplus of 700 million pounds.

Source: Daily News Egypt

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