An IMF team welcomes the move saying the new scheme aims at increasing household savings and potentially reduce remittance outflows
Saudi pensions
Latest in Saudi pensions
General Organisation for Social Insurance
Saudi Arabia’s new Social Insurance Law takes effect from today
Maternity benefit also starts; Female subscribers, both Saudi or non-Saudi, are entitled to maternity compensation for three months on childbirth
General Organisation for Social Insurance
Saudi Arabia announces new social insurance law, raises retirement age to 65
Saudi Arabia has made changes to maximum retirement ages for new employees
General Organisation for Social Insurance
Saudis may work longer, pay more to fill pension fund gap
Faced with an estimated actuarial gap of $213bn at the state-controlled pension fund – the government is weighing proposals to increase the retirement age, according to sources
General Organization of Social Insurance
Saudi Arabia to form entity with $29bn in equity holdings
The funds hold significant stakes in Saudi Arabian firms, including a combined $8.5 billion holding in Saudi National Bank and a $4.3bn stake in Al Rajhi Bank