Khaberni - Minister of Labor Khaled Al-Bakkar warned that keeping the social security in its current state means reaching a state where obligations cannot be met by 2050.
Al-Bakkar said during a discussion of the Social Security Law in the Parliamentary Work Committee today, Tuesday, that the first breakeven point for social security will be in 2030, explaining that between the years 2030 and 2035, social security will face a financial deficit covered by investment return funds amounting to about 500 million dinars.
He indicated that after the year 2035, the fund is supposed to return to stability.
Al-Bakkar pointed out that in the current situation, every 4.8 contributors to social security finance one retiree, explaining that the government studied 80 scenarios for social security before submitting the law amendment.
