House reps. angling for pensions on par with those of Egypt’s cabinet members

LEGISLATION WATCH- MPs want pensions on par with those of cabinet members: House Legislation Committee member Rep. Khaled Hanafy is drafting a bill that would grant members of parliament pensions equivalent to those ministers receive, Hanafy tells Al Mal. If passed, MPs would receive pensions ranging between 10-25% of the public sector maximum wage, with payments disbursed on a monthly basis as a “bonus” for their services. Hanafy notes that MPs are required by law to quit day jobs, directorships and other posts to become members of parliament, which means many of them are left without pensions. President Abdel Fattah El Sisi had ratified in July legislation to reduce the pensions of ministers, governors, and their deputies. Under the law, pensions for these positions will be reduced to 25% of their pre-retirement wages, down from an original 80%.