Shura Council says GOSI should provide minimum social insurance protection for subscribers

Shura Council's building

The Saudi Shura Council approved today, Jan. 18, the 2020 annual report of the General Organization for Social Insurance (GOSI), in which the organization will reconsider its strategy to provide a minimum limit of social insurance protection for all subscribers regardless of wages.

Moreover, the Council asked GOSI to study providing a gradual retirement option for employees that are eligible for early retirement.

The advisory council affirmed its decision on reconsidering the actuarial deficit after the merger of the Public Pension Agency (PPA) with GOSI.

It also stressed the importance of taking all measures required to obligate employers to provide insurance for Saudi employees working in GCC countries.