Algeria to raise retirement allowance by 12 percent

The government will raise retirement allowances for more than two million people by 12 percent as the Retirement National Fund discussed suggestions submitted to the work ministry.

Press attaché at the retired people’s federation said the ministry is expected to approve the suggestions as a meeting was held, 15 days ago.

“It was suggested that retirement allowance should be raised between 10 and 15 percent. We are waiting for the ministry to decide in our suggestions,” he told Echorouk on Wednesday.

The allowance raise would improve purchasing power and retired people’s conditions.

Saleh Djonohat, member of the Algerian Workers’ General Union said the suggestions were discussed in February’s tripartite meeting and the ministry is expected to apply them in May.

“The suggestion included raise between 10 and 15 percent. Yet, most likely that an agreement will be reached to raise retirement allowance by about 12 percent,” he said.