Beware as PIFSS on road to bankruptcy
the public institute for social security (pifss) is a security fund for retirees and it obliges these retirees before their retirement, and sometimes the institutions they work for, to pay a specific sum of money per month to the fund so that the board of directors invests this money on their behalf and after retirement they are paid a pension from the fund.
therefore, pifss is neither a private company nor a government institution but rather a security fund and this is what the retirees, who demand the distribution of profits, must understand, absorb, and accept.
there is no party that has a direct interest in the pifss except for those that invest the money of the retirees, and i am not one of these parties. therefore, my defense of the institution, or rather my strong criticism of the retirees who demand the distribution of annual profits to them, in addition to another set of benefits did not come from a personal interest, but rather from a scientific and logical point of view that is in the interest of the retired and the insured person.
these irrational demands will inevitably lead, in word and deed, to the institution’s bankruptcy within a period not exceeding ten years, and i, as a retiree, will lose the retirement pension that i currently receive from the institution, and my children, who will retire soon, will lose the money they paid to the institution as security cover during their old age.
accordingly, the visits paid by the ‘retirees rights gathering’ to senior officials in the state to persuade them to pressure pifss to distribute cash profits to them (which they do not deserve in the first place) is a waste of time and a financial catastrophe for all those participating in it, and i doubt very much that the board of directors will one day agree to the principle of distributing profits to retirees, knowing that this is the institution’s bankruptcy, not to mention that its law, system, truth, and logic do not allow it to do so at all.
