Including the terms of pension contributions, the National Unity Government is amended by Resolution No. 444 for 2021 regarding the Social Security Fund

Our source obtained exclusively the Cabinet Resolution No. 406 of 2022 on the amendment of Council Resolution No. 444 of 2021 and the report of the provisions of the Social Security Fund.

The decision also included the amendment of Article 1 of the decision regarding the imposed contributions, whereby the following contributions are imposed in exchange for cash benefits, which are the pension contribution, the assistance contribution to self-employed workers, the lump-sum grants contribution, the total subsidies, the basic pension contribution, and the health care contribution.

Where the Social Security Fund records the surplus of monthly contributions after paying the pensions to their beneficiaries within the general reserve of the Fund. The balance of the contributions restricted in the general reserve may only be used to cover the deficit that occurs in the financing of pensions. The Finance ministry undertakes to cover the deficit differences from the item of the general budget reserve or what the Council of Ministers decides in particular.

A committee will also be formed by a decision of the Minister of Finance between it, the Ministry of Labor and Rehabilitation and the Guarantee Fund, to prepare an integrated scientific study regarding the entry of self-employed workers and the contribution of assistance to be determined for the category of self-employed workers.

The Finance ministry, in coordination with the Social Security Fund, undertakes an actuarial assessment of the financial position of the Social Security Fund every three years, on the basis of which the rates of contributions determined for categories of participants are determined, either by decreasing, increasing or maintaining them, and it is presented to the Council of Ministers to take the necessary action.