Government Borrows 600 Billion DZD To Pay The Pensions Of Retirees

Over 600 billion DZD were pumped in the treasury of the national pension fund, to be able to pay the pensions of retirees in the coming months, in light of the financial crisis of the “CNR”, official spokesman of the General Union of Algerian Workers, Chabekh Farhat, said.

“This money were taken from the insurance fund for unemployment and solidarity, that belongs to the Ministry of labour, employment and social security”.

Chabekh told Echorouk; “Financial situation of the national pension fund is bad, and it is continuing, which prompted the government recently to pump 60.000 billion centimes at the treasury’s fund, to avoid the catastrophic lack of liquidity for the payment of pensions retirees this time”. 

“PM decided about the possibility of filing pre-retirement applications until Dec. 31, and it comes to persons who have completed 32 years of service”, but in return he assured that the process will stop definitively at the beginning of January 2017.

Representative of the syndicate asserted that the continuation of depositing pre-retirement files, and fiscal deficit that is registered at fund, forced government that is represented by the Ministry of Labour, Employment and Social Security, to deduct from other funds of Solidarity and unemployment, in order to pay the pensions of retirees, commissioned, during the last days, 60.000 billion centimes, that were pumped in the CNR’s accounts “.

“Files of categories of workers with arduous professions that are concerned with pre-retirement, are examined and are not completed to identify their owners. Over 30 federations at the General Union of Algerian Workers will provide detailed reports on the workers and staff members that are grouped under its banner, and the concerned with the conditions that were previously identified along the lines with pressure, temperature and overtime and chronic disease”.