The public treasury reduces the pension fund deficit – Al-Hiwar Al-Jazaeryia

The Director General of the National Retirement Fund, Abdali Jaafar, revealed that the fund recorded a large structural deficit in the year 2022, which affected its balances, as it recorded an increase in expenses by 09%, compared to meager incomes estimated at 30%, which prompted the intervention of the public treasury this year to reduce the fiscal deficit to 376 billion DZD.

And during his presentation of the tasks of the fund, the basic criteria for the retirement system, in addition to the details of the structural deficit of the fund, yesterday, Monday, before the Health Committee of the National People’s Assembly, the source confirmed that the basic criteria for the Algerian retirement system were determined by reaching a legal age at the limits of 60 years for men, and 55 years for men. For women, during a minimum period of activity represented in 15 years, and this is based on the adoption of the adoption ratio of 2.5 years for each proven work year.

Abdali Jaafar said that the National Retirement Fund began to experience a growing financial deficit since 2013, especially after the decrease in the proportion of contributors to a single pensioner, as the number of beneficiaries increased from two million in 2010 to more than 3 million in 2022, an increase of 46%., He attributed the reasons for the deficit to the decrease in the number of participants in social security, as well as the increase in the number of retirees and the amounts of pensions, in addition to the weak growth in revenues, especially between 2013 and 2021.

For their part, the deputies conveyed concerns related to relative retirement, as a deputy asked about some retirees receiving 16,000 DA after years of work and paying contributions. Pensioners, especially since this type of correspondence does not require the French language.

In addition to this, the deputies stressed the need for the National Pension Fund to get out of the financial deficit by entering the field of investment, and thinking in various fields such as agriculture, industry and others to achieve additional profits.

In conclusion, the deputies stressed the need to pay attention to retirees at the level of postal centers. They also asked about the possibility of calculating the years of work within the framework of professional inclusion in retirement, and urged coordination between the funds to process the files of the retirees’ path, and forcing the private sector to declare the amounts of the insured.