The council of The Insurance Fund of the academic staff and employees of Cairo University has approved increasing the maximum of the end-of-service benefits of academic staff and employees of the university, whether in case of retirement or death, to 100, 000 EGPs instead of 75, 000 EGPs. The exchange is calculated on the basic salary of the member in 2009 instead of 2005. This decision will be applied starting by the first of January 2015.
Insurance Supervisory Authority has already approved the new modifications of the insurance system of academic staff and employees, at Cairo University, approved by General Assembly of Insurance Fund for Academic Staff and Employees at the university. The university has decided to boost academic staff and employees with 20, 000, 000 EGPs to be deposited at the fund for five years to initiate the implementation of the new modifications of the exchange.
Prof. Dr.\ Gaber Nassar, President of Cairo University, has ordered the council of The Insurance Fund of the academic staff and employees at the university to prepare a new actuarial study throughout a year to consider providing better insurance advantages to the academic staff and employees via the fund in the next years.
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