Physical Address
Indirizzo: Via Mario Greco 60, Buttigliera Alta, 10090, Torino, Italy
Retirement pensions will increase from next June, with a retroactive effect from May, said the director of pensions at the National Pension Fund (CNR), Abdelhafid Adrar. A measure which aims to improve the purchasing power of retirees, who were impatiently awaiting this increase.
The official specified, in a press statement, that the average increase in retirement pensions will be 3,500 DA. “This significant increase demonstrates the government’s commitment to supporting retirees,” he said. Furthermore, Mr. Adrar revealed that 50,000 Algerian workers retire each year, a significant figure which influences the management of CNR funds.
The pensions director also mentioned that these increases will reach a total of 170 billion Algerian dinars, or the equivalent of 1.268 billion US dollars. “This considerable sum reflects the government’s financial effort to support retirees in a difficult economic context,” he said.
However, Abdelhafid Adrar also highlighted a major challenge: the CNR faces a deficit of 380 billion dinars in 2023. This deficit highlights the need for robust economic measures to guarantee the sustainability of retirement pensions. Despite this deficit, strategies are being put in place to mitigate the negative impacts on retirees, according to the same official.
Adrar also indicated that the permanentization operations carried out by the public authorities in the civil service sector have reduced the effects of the deficit recorded by the fund. “In addition to these permanent positions, the continued recruitment of personnel in the public service, having reached half a million civil servants, has made it possible to absorb part of the CNR deficit,” he declared.
Regarding the progress made in the field of services offered by the CNR, Mr. Adrar mentioned the major change in the way in which users are received, emphasizing that the fund is the only public establishment in Algeria to have been distinguished by the “quality of reception” label.
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 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.
Furthermore, the Head of State had instructed the Executive to seek new methods of financing for the National Pension Fund so that these increases are in line with the development of the national economy.
The Trade Union Organization of Algerian Retirees (OSRA Trade union organization of Algerian retirees) welcomed this decision which should, according to her, help Algerian retirees cope with inflation. “We appreciated the President’s social speech. The decided revaluation is acceptable and in line with inflation for the year 2024 but when we talk about an increase, we must go through the increase in the SNMG and, from there, the increase in the minimum pension. said Mr. Bachir Hakem, representative of OSRA.