10 questions after the process of “integrating retirement into insurance”… The Pension Agency is coming

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Including the retirement age, the monthly deduction rate, and the right to the “Sanid” program.

The Public Pension Agency, in conjunction with the Cabinet’s announcement of the decision to merge the “Public Pension Agency” into the “General Organization for Social Insurance”, published several answers about what might be going on in the minds of the subscribers after this decision and the work mechanism it will take to continue their service.

“Previously” excerpted from this information (10) questions and answered them from the “Retirement Institution” based on the questions that were monitored about it on social media by a number of its pioneers, as follows:

1- Is there a change in what is deducted from the employee’s monthly wage in return for his participation in the system?

C- There is no change to what will be deducted from the employee’s monthly wage in return for his participation in the system.

2- Is there a change to the retirement application mechanism?

C- The merger decision does not change or affect the mechanism of applying for retirement.

3- Will there be an impact on the current employee in the public sector?

C- The merger decision does not affect the employee, whether he is an employee in the public sector or the private sector.

4- Are pensioners entitled to benefit from the Sanid program?

A – No, the Sanid program is limited to Saudi participants in the pension branch of the Social Insurance System only.

5- Will there be an impact on the method of calculating the pension for new applicants applying for retirement?

C- There is no change in the method of calculating the pension for new applicants applying for retirement.

6- How is my retirement pension calculated if I retire from the retirement system?

C- The pension is calculated in the same way as the current one without any modification or change.

7- Is there a change in the conditions for early retirement entitlement?

C- The conditions for entitlement to early retirement have not been changed or affected by the decision to merge the two institutions.

8- Is there a change in the retirement age?

C- The statutory retirement age has not been changed or affected by the decision to merge the two institutions.

9- I am currently receiving a retirement pension and work in the private sector. Will my pension be cut off?

C- The merger decision concerns administrative matters only between the two institutions and does not affect pensions.

10- Is there a change in the retirement pension payment dates?

C- The merger decision does not change or affect the dates of disbursement of pensions.

10 questions after the process of “integrating retirement into insurance”… The Pension Agency answers

previously

The Public Pension Agency, in conjunction with the Cabinet’s announcement of the decision to merge the “Public Pension Agency” into the “General Organization for Social Insurance”, published several answers about what might be going on in the minds of the subscribers after this decision and the work mechanism it will take to continue their service.

“Previously” excerpted from this information (10) questions and answered them from the “Retirement Institution” based on the questions that were monitored about it on social media by a number of its pioneers, as follows:

1- Is there a change in what is deducted from the employee’s monthly wage in return for his participation in the system?

C- There is no change to what will be deducted from the employee’s monthly wage in return for his participation in the system.

2- Is there a change to the retirement application mechanism?

C- The merger decision does not change or affect the mechanism of applying for retirement.

3- Will there be an impact on the current employee in the public sector?

C- The merger decision does not affect the employee, whether he is an employee in the public sector or the private sector.

4- Are pensioners entitled to benefit from the Sanid program?

A – No, the Sanid program is limited to Saudi participants in the pension branch of the Social Insurance System only.

5- Will there be an impact on the method of calculating the pension for new applicants applying for retirement?

C- There is no change in the method of calculating the pension for new applicants applying for retirement.

6- How is my retirement pension calculated if I retire from the retirement system?

C- The pension is calculated in the same way as the current one without any modification or change.

7- Is there a change in the conditions for early retirement entitlement?

C- The conditions for entitlement to early retirement have not been changed or affected by the decision to merge the two institutions.

8- Is there a change in the retirement age?

C- The statutory retirement age has not been changed or affected by the decision to merge the two institutions.

9- I am currently receiving a retirement pension and work in the private sector. Will my pension be cut off?

C- The merger decision concerns administrative matters only between the two institutions and does not affect pensions.

10- Is there a change in the retirement pension payment dates?

C- The merger decision does not change or affect the dates of disbursement of pensions.

16 June 2021 – 6 Dhu al-Qi’dah 1442

08:17 PM


Including the retirement age, the monthly deduction rate, and the right to the “Sanid” program.

The Public Pension Agency, in conjunction with the Cabinet’s announcement of the decision to merge the “Public Pension Agency” into the “General Organization for Social Insurance”, published several answers about what might be going on in the minds of the subscribers after this decision and the work mechanism it will take to continue their service.

“Previously” excerpted from this information (10) questions and answered them from the “Retirement Institution” based on the questions that were monitored about it on social media by a number of its pioneers, as follows:

1- Is there a change in what is deducted from the employee’s monthly wage in return for his participation in the system?

C- There is no change to what will be deducted from the employee’s monthly wage in return for his participation in the system.

2- Is there a change to the retirement application mechanism?

C- The merger decision does not change or affect the mechanism of applying for retirement.

3- Will there be an impact on the current employee in the public sector?

C- The merger decision does not affect the employee, whether he is an employee in the public sector or the private sector.

4- Are pensioners entitled to benefit from the Sanid program?

A – No, the Sanid program is limited to Saudi participants in the pension branch of the Social Insurance System only.

5- Will there be an impact on the method of calculating the pension for new applicants applying for retirement?

C- There is no change in the method of calculating the pension for new applicants applying for retirement.

6- How is my retirement pension calculated if I retire from the retirement system?

C- The pension is calculated in the same way as the current one without any modification or change.

7- Is there a change in the conditions for early retirement entitlement?

C- The conditions for entitlement to early retirement have not been changed or affected by the decision to merge the two institutions.

8- Is there a change in the retirement age?

C- The statutory retirement age has not been changed or affected by the decision to merge the two institutions.

9- I am currently receiving a retirement pension and work in the private sector. Will my pension be cut off?

C- The merger decision concerns administrative matters only between the two institutions and does not affect pensions.

10- Is there a change in the retirement pension payment dates?

C- The merger decision does not change or affect the dates of disbursement of pensions.





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