Slimane Melouka: “There Will Be No Return To The Pre-Retirement System”

The trade deficit of the fund pushed to allow the extension of the retirement age to 65 years, the general manager of the National Retirement Fund, Slimane Melouka, told the national radio on Monday.

“Increases in retirement pensions alone cost the fund DZD 300 billion”, he added.

He ruled out the possibility of returning to the pre-retirement system, explaining that proportional or unconditional retirement came in 1997 in exceptional circumstances.

“The new 2020 law stipulated that those wishing to continue their positions until the age of 65 should be satisfied with a written request before three months. The new retirement decree restored the internationally established age for retirement”.

Regarding the increases, the general manager of the retirement fund stated that it pours regularly every year according to the text of Article 43 and it is poured regularly.

“It is defined as an increase of 7% for those equal to or less than DZD 20.000, 5% for DZD 30.000, 2% for DZD 50.000 to DZD 80.000, and 1% for those whose pensions exceed DZD 100.000. These increases have cost the treasury in the last ten years DZD 300 billion”.

On the deduction of the proportional retirement deductions with the cessation of work, he said that the law is still in effect, but it is specified in exceptional cases related to bankrupt companies while reducing the deduction percentage that does not exceed 0.25% from the employee and 0.25% from the user.

As for determining the hard jobs and the possibility of reducing the retirement age, the same speaker confirmed that the list has not yet been determined and it is not within the powers of the fund, but it is not excluded that if it is specified, it will be given some privileges, including reviewing the retirement age.