Egypt is now home to about 10.2 million people aged 60 and older, yet the pensions and protections meant to sustain them remain modest, unevenly reached and, by many retirees’ accounts, far short of the cost of a dignified old age. The older population grew from 9.8 million a year earlier, the national statistics agency reported on 1 October, and its share is projected to reach roughly 14 percent by 2050. The government has answered with pensions, a cash program for the poor, a new rights law and a gradual overhaul of health insurance. But unions, lawmakers and researchers say the payments are too little, eligibility is tightening, and some promised benefits exist mostly on paper. Pensions under strain Pensions are the largest source of support for older Egyptians, reaching about 11.5 million people. The minimum pension for new retirees rose in January to EGP 1,755 (USD 31) a month, and on 1 July a 15 percent increase took effect for existing pensions, at an estimated annual cost of EGP 70 billion (USD 1.25 billion). Critics say that is not enough. The state’s minimum wage for public-sector workers isContinue reading "Egypt’s Ageing Population Exposes Gaps in Social Protection"
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