The Algerian Minister of Labor, Employment and Social Security, Mourad Zemali, has evoked the imbalances affecting the Algerian National Pension Fund (CNR), stating that without the intervention of the Government, which has transferred 500 billion dinar to the CNR, pensioners were not able to collect their pension in the last two months. Zemali has specified that the expenses of the CNR are estimated at 1200 billion dinars while the contributions do not exceed 600 billion dinars, with a deficit of 50%. The Minister complains that the annual evolution of the rate of social security contributions is only 2%. The deficit is due to the failure to submit the declaration or submission or a reduced declaration of employees by employers. The Director General of Social Security at the Algerian Ministry of Labor, Djaouad Bourkaib, admitted that if all the Social Security departments are currently “in equilibrium”, those of the pension go through financial difficulties. Explaining this situation with a “world trend” characterized by a difficult economic situation, demographic change and a higher probability of life, Bourkaib said that in the face of the deficit in this sector, the Government established “the grant of exceptional balance” and the contribution of solidarity levied for 1% on imports of goods.


Source: medNews