Youm7, 12 August 2021: The Egyptian authorities have explained the provisions in the draft Labour Law.
The draft law will determine the retirement age for employees in the private sector and the situations in which the retirement age can be extended.
It states that the retirement age should be 60.
Under the draft law, the employee will receive a severance payment calculated based on half salary of the first five years and full salary for the next years of their service.
The severance payment will be calculated based on the value of the last salary received. Where the employee dies, the severance payment will be paid according to the provisions in the Social Security Law.
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