Sunday 08/February/2026 – 12:02 PM
Engineer Hazem Al-Jundi presented, senatorWith a proposal addressed to the Prime Minister, the Minister of Foreign Affairs, Immigration, and Affairs of Egyptians Abroad, the Minister of Finance, and the Minister of Social Solidarity, regarding the establishment of a pension fund for Egyptians working and residing abroad.
Parliamentary move to establish a pension fund for Egyptians abroad
In the proposal, El-Gindy said with desire that Egyptians abroad have enormous wealth and soft power that constitute a fundamental pillar of the Egyptian economy, an effective element in strengthening Egypt’s position on the international level, and a great economic power for the Egyptian state, as remittances from Egyptians abroad are a major source of hard currency in Egypt, and these remittances contribute to supporting the Egyptian economy and achieving development, pointing out that there are challenges facing Egyptians abroad, especially their need to provide social and health care, as a large segment of them suffers from the absence of a stable insurance umbrella. They are guaranteed a decent life after reaching retirement age or in cases of disability and death.
El-Gindy added that the current insurance and pension systems do not comprehensively and flexibly cover the conditions of Egyptians working abroad, especially those working under individual contracts or self-employment, which leaves them without adequate social protection despite long years of work and giving. Therefore, there is a necessary and urgent need to quickly establish a fund that provides a social and insurance protection umbrella for Egyptians abroad, and to provide a social safety net for Egyptians abroad that makes them feel supported and assisted by the Egyptian state if they face any difficulties or crises, and to enhance communication between them and Their country, which contributes to strengthening and consolidating loyalty and belonging to the homeland.
Representative Hazem El-Gindy indicated that the proposal includes establishing a pension fund for Egyptians working abroad, affiliated with the competent government authority, whether the National Authority for Social Insurance or the entity specified by the government, and operating according to a flexible and optional system, allowing Egyptians abroad to participate in it in exchange for appropriate monthly or annual contributions, with the possibility of benefiting from a safe investment return that guarantees the sustainability of the fund and its ability to fulfill its obligations. It aims to provide an appropriate monthly pension for participants upon reaching retirement age, or in cases of total disability or death, and for the fund to operate on an optional system. Flexible, taking into account the nature of work abroad and differences in income, with rational investment management that ensures the sustainability of its resources and maximizes its returns.
The Senator stressed the need to prepare an integrated actuarial study to determine the financing and subscription mechanisms and ensure the financial sustainability of the fund, and to allow the fund to invest insurance funds for Egyptians abroad in a way that generates a financial return for the fund, maximizes its resources and ensures financial sustainability, and to link the pension fund for Egyptians abroad to the unified digital system of the Ministry of Foreign Affairs and Immigration, to facilitate subscription and payment from abroad, and provide flexibility in subscription categories in proportion to different income levels and countries receiving Egyptian workers.
As well as studying the provision of incentives to subscribers, whether through additional benefits or banking facilities, in a way that enhances demand for the Fund, and coordination between the Ministries of Foreign Affairs, Immigration, Social Solidarity, and Finance, to develop an integrated legislative and executive framework that ensures speedy implementation, in addition to developing flexible legal mechanisms that allow workers abroad to add periods of their work abroad in the years prior to the establishment of the Fund to be added to the subscription periods and pay what is due for these periods, thus contributing to granting a large segment of workers abroad their insurance rights and the right to obtain a private pension. Among them are those who are elderly, in addition to the fact that this step will contribute to the Fund having significant resources generated once it is formed.
