Result achieved
Outcome summary
The Government of Egypt endorsed two ILO social security reports submitted in February 2017 and June 2017.
Outcome achieved
The Government of Egypt endorsed two ILO social security reports submitted in February 2017 and June 2017. These reports provided scenarios and recommendations on international labour standards and actuarial practices to ensure the long-term financial sustainability of the social security system, including pension schemes (the Government’s Social Insurance Fund and the Public and Private Social Insurance Fund). The reports feed into the pension reform process that the Government embarked on and will further serve as inputs for the dialogue and discussion on a new pension law. In particular, the Government is considering recommendations on pension fund governance, investments, improvement of contribution collection and coverage extension. Several recommendations of the ILO reports were incorporated into the draft pension law.
ILO's contribution to the outcome
The ILO combined actuarial and normative expertise to collect relevant information and data, and to produce a series of reports which have been submitted to the Government of Egypt, referring to best practices based on the Social Security (Minimum Standards) Convention, 1952 (No. 102) and Social Protection Floors Recommendation, 2012 (No. 202), including on social dialogue.
The ILO’s Actuarial Pension Model was used for the preparation of these reports. The actuarial review follows international standards of practice relevant to the financial assessments of social insurance pension schemes, including the International Standard of Actuarial Practice No. 2 (Financial Analysis of Social Security Programs) of the International Actuarial Association, and the ILO’s Internal Guidelines for the Actuarial Valuation of National Social Security Schemes. The Government of Egypt consulted the World Bank which agreed with the main ILO reforms scenarios.
Egypt’s National Organization for Social Insurance (NOSI) employees – 19 women and 7 men - received training on topics related to the forthcoming pension reform, enhancing their knowledge on pension funds governance, investments, and improvement of contribution collection (August 2017).
The ILO’s International Social Security Association (ISSA) guidelines were used by trainers to provide examples of best practices on pension fund management. The ILO-ISSA guidelines were provided to the participants to serve as a guiding tool in their future activities.
The ILO trained 17 Ministry of Social Solidarity (MoSS) correspondent press journalists (10 men and 7 women) in September 2017 to improve their understanding of social protection and their ability to report on the topic. The ILO’s education videos were used for this purpose. Other journalists, speakers, and correspondents covering the Parliament were also provided with social protection awareness training in October and November 2017.