On 19 August 2019, a New Social Insurance and Pension Law was reportedly signed by Egyptian President Abdel Fattah el-Sisi. The new law will take effect on 1 January 2020 and harmonizes and replaces current social insurance and pension laws, and also introduces a new unemployment insurance.
With the new law, the total contributions rate will amount to 29.75% on total salary, excluding exempt allowances. Of the total, employers will be responsible for 18.75% and employees will be responsible…