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The Second Chapter: Sources of Fund Financing

Article (8): Sources of funding for the insurance and pensions fund will consist of the following:
A) Contributions of employers and insured parties defined in accordance with the provisions of this law.
B) Accrual amounts to be paid by the insured parties on previous service period or equivalent periods.
C) The capital of retirement fund and social security.
D) Amounts obligated by Public Treasury of the Government for previous service period of government employees before the issuance of this law.
E) Monies due to the fund in accordance with the provisions of others previous pension and social security laws, orders, regulation, or special decrees.
F) Amount in collection of currency fraction from the net wage incentives or bounces.
G) Grants and aids or charities.
H) Monies received from investment of this capital amounts.
Article (9): The employers shall pay their contributions monthly to the Fund with (6%) of total basic wages for the insured parties, for retirement, disability and survivor insurance and (1%) for work-related injuries and these contributions shall be paid to the fund at the defined time through monthly salary payments.
Article (10): Employers shall deduct (6%) of the monthly basic salary of the insured party for the retirement, disability and survivor insurance and these percentages shall be deducted monthly from the wage and shall not be affected with any other deductions applied to it.
Article (11): The wage which percentages of contributions deductions of insurance is applied to it, specified in accordance with the provisions of article (9,10) is the total salary (basic salary + allowances) defined legislatively for the insured party and not including any other allowances not included with the voucher of monthly salary or overtime wages or bounces and it might be possible to include with the implementation order definition of the bases and rules which will enable in accordance with inclusion of some of the basic allowances and incentives which will be subjected to the deduction for the purpose of gaining benefit for the insured party regarding his retirement returns.
 


Relative links in this section


The Third Chapter: The Financial Provisions for the Injured Person

The Sixth Chapter: The Eligible for Retirement Pensions and Indemnities

The Seventh Chapter: General Rules

The Eighth Chapter: Penalties

The Ninth Chapter: Final Provisions

The First Part: The First Chapter

The Third Chapter: Retirement, Disability and Survivor Insurance

The Second Part: The Application of the Retirement Pension

The Forth Chapter: Calculation of Retiree Salary and Lump-Sum

The Fifth Part: Health Care and Work-related Injuries - First Chapter: Work-related Injuries

The Second Chapter: Health Insurance

To honor the families of prominent martyrs and trade unionists of the General Authority for Social Insurance during the celebration of International Workers Day

29/5/2019

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The Social Insurance Authority Participates With the University of Akra In Cultural and Creative Activities to Strengthen Steadfastness In the Face of Aggression

25/4/2019

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In your Opinion, Have GASSP Services Improved Since Oct 2009

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