Algerian Retirees Receive €1.2B Annually, €100M Monthly From France

A report by the French National Assembly (Parliament) revealed that 405,351 Algerian retirees residing in Algeria receive pensions from various French funds, representing more than 100 million euros monthly and 1.2 billion euros annually, which is more than DZD 2300 billion every year.

The same report was prepared in the name of a parliamentary commission of inquiry on combating fraud of social services and pensions, dated September 08, 2020, which copy is available to Echorouk, states that Algerians are at the forefront of countries in terms of the nationalities that benefit from the French retirement pensions, even if they are residing on the land of their country of origin, and their number is 405.351 Algerian retirees, then Portugal with about 174.000 retirees, Spain with 175.000 and Morocco with 65.000 retirees.

According to the same report, the monthly value of what French pension funds pay to Algerians residing on the homeland amounts to 100. 555 .391 euros, which is more than DZD 190 billion by calculating the exchange rate in the parallel market, and this is given the statistics prepared at the end of December 2019.

“The annual amount paid to Algerian retirees residing in Algeria reaches 1.2 billion euros, which is more than DZD 2300 billion by calculating the exchange rate of the euro in the parallel market”.

The same document revealed that the Algerians receive modest pensions from the French pension funds, as the average pension per person (with calculating 405.351 retirees residing in Algeria) is estimated at only 248 euros per month, compared to 339 for Moroccans, 371 for Portuguese and 253 for the Spanish retirees.

Algerians retired from France and residing in the homeland (excluding retirees who kept residency in France and whose pensions are poured into French banks) constitutes 30.5% of retirees from France residing outside the French territory, according to 2019 statistics, and according to the same report, Algeria, Spain and Portugal account for 64% of the French pensions poured abroad, while retirees from the three Maghreb countries (Algeria, Morocco and Tunisia) represent 40% of French pensions pouring abroad.