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Retirees
The National Retirement Fund (CNR) is preparing to sign an agreement with a public bank to grant loans to all retirees at subsidized rates, while providing Islamic financing formulas on favorable terms, in a step aimed at improving the standard of living of this group, according to what was revealed by the Fund’s Director General, Hafeez Adrar..
Adrar explained, during his hosting yesterday on the “Today’s Guest” program on Algerian Radio Channel 3, that this initiative falls within a new approach adopted by the Fund, which is based on shifting towards a more proactive approach and not being satisfied with periodic increases, by providing additional benefits for the benefit of retirees. He also indicated that the Fund’s teams are currently working on preparing other agreements aimed at enhancing the services and benefits of social security beneficiaries.
The same official confirmed that the anticipated agreement, which will be signed next Sunday with a bank whose name has not yet been revealed, will allow retirees to obtain loans on preferential terms, adding that the Islamic financing option will also be available to those interested according to appropriate formulas.
In a related context, Adrar announced that the date for disbursing pensions and grants for the month of May has been moved forward to the first week of the month, instead of the usual period extending from the 15th to the 26th, indicating that this decision comes due to social considerations related to the period coinciding with Eid al-Adha, while reassuring about 3.5 million retirees that no disturbances will be recorded in the dates of the other months.
He explained that the date for disbursing the June pension will also be advanced to within June 8, before returning to the usual schedule starting in July 2026.
He also recalled that the increase in the guaranteed national minimum wage, which came into effect on January 1, resulted in an automatic review of social security grants with an annual budget estimated at 88 billion dinars, as the minimum wage rose from 20 thousand dinars to 24 thousand dinars, and the unemployment grant from 15 thousand dinars to 18 thousand dinars.
At the conclusion of his statements, the Director General of the National Retirement Fund reassured that the pensions would be paid on time without delay, stressing that all necessary measures would be taken to facilitate access to the Fund’s services, by providing multiple electronic services, in addition to the possibility of communicating via the green number 3011 or via social media platforms, while ensuring an appropriate reception for those wishing to go to the Fund’s headquarters.
