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Algerian retirees will see their pensions increase from the current month, with increases ranging from 10 to 15% and with retroactive effect. This measure aimed at improving the purchasing power of retirees, who were impatiently awaiting this increase, concerns nearly 3.5 million pensioners. A budget of 175 billion dinars has been planned to finance these valuations.
The Ministry of Labor, Employment and Social Security has determined the rates of increase in retirement pensions, following the decree, signed on May 14, 2024, by the Minister of the sector Fayçal Bentaleb, increasing security pensions social security and its benefits, with retroactivity, based on the amounts of pensions and benefits currently received by retirees.
Thus, the highest rates of increase will be granted to the lowest-income retirees, whose pension is less than or equal to 15,000 DA. The latter will benefit from an increase of 15%, approved for the first time in the history of the sector, and 13% for those located in the range of more than 15,000 to 25,000 DA.
Retirees, whose pension is between 25,000 and 35,000 DA, will see their pension increase by 12%, while those whose pension is between 35,000 and 42,000 DA will benefit from an increase of 11%.
Those whose pensions are between 42,000 and 70,000 DA will receive an increase of 10.75%, while those who receive between 70,000 and 100,000 DA will benefit from an increase of 10.50%.
By the same decree, it was decided to increase the pensions and allowances of retirees receiving between 100,000 and 150,000 DA by 10.25%, compared to 10% for those receiving pensions and allowances exceeding 150,000 DA.
The updating transactions applied to reference salaries, as a basis for calculating new pensions, are provided for in Article 43 of Law No. 83-12 of July 2, 1983, according to the reference year, in accordance with in the annex attached to the original of this decree.
It should be remembered that the Council of Ministers, meeting on May 7, approved an increase in pensions and retirement allowances, ranging between 10 and 15%. President Abdelmadjid Tebboune had, on International Workers’ Day, the 1er Last May, gave instructions for the review of retirement pensions, all categories combined. This decision was taken after examining the file submitted to it and following the evolution of the standard of living in the country and the financial capacities of the State.
The upward revision of pensions for Algerian retirees comes “in recognition” of the sacrifices and laborious efforts they have made for the development of the country.
As such, the President reaffirmed the need to preserve social security for this category, which has given a lot to the nation. To do this, he sent the file back for careful re-examination at the level of the Government Council, in addition to launching an in-depth study to determine the level of increases.