Algerian government has announced that it reviewed retirees’ pensions and decided on an increase of between 2 and 7 % from May 1, 2020, with the aim of improving the purchasing power of retirees and in response to union demands.
Algerian government confirmed that these increases are meant for small pensions by setting an increase rate of 7% for pensions that are less than or equal to 20.000 Algerian Dinars, then by 4% for pensions ranging from 20.000 to 50.000 dinars and 3% for pensions greater than 50.000 to 80.000, and finally 2% for pensions exceeding 80.000 Algerian Dinars.
These increases will be disbursed in June 2020 retroactively for the month of May. This decision is part of a series of social measures announced by the Algerian government, the other part of which dealt with tax exemptions for less paid workers. We will be back to more of these exemptions in more detail later.
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