It’s official: Pension payouts to rise 13% from 1 July

Next month’s 13% increase for pensioners is now law of the land: Legislation that raises state pension payments on 1 July has been ratified by President Abdel Fattah El Sisi, according to the Official Gazette (pdf). The above-inflation hike — approved by the cabinet in April — will cost state coffers an additional EGP 31 bn in the upcoming fiscal year, and is designed to raise the standard of living of the country’s pensioners.