Saudi Social Insurance body switches to Gregorian calendar starting June

RIYADH: The General Organization for Social Insurance (GOSI) has decided to follow the Gregorian calendar from June for the payment of pensions to retirees and to family members of those who have passed away.
This decision comes in line with the government directives to unify paydays for all state employees according to the Gregorian calendar.
GOSI spokesperson Abdullah bin Mohammed Al-Abdul Jabbar said the organization will deposit pensions in the accounts of the beneficiaries and family members of the deceased retirees and compensate unemployed people at the beginning of each month starting June 2018.
“The Organization is paying the insurance pensions to beneficiaries in advance according to the social insurance system,” he added.
“After considering the beneficiaries’ material needs for the month of Ramadan and Eid Al-Fitr, the organization decided to start paying pensions starting the first of June. That way, the beneficiaries will receive pensions for the month of June just 17 days after receiving pensions for the month of Ramadan.”
Al-Abdul Jabbar also said since June 1 falls on a Friday, the organization would start disbursing payments on May 31.
The pensions paid by the GOSI monthly exceed SR1.7 billion benefiting more than 360,000 people.
GOSI is a semi-state body that enjoys administrative and financial independence. An eleven-member board of directors, supervises GOSI. The organization exercises its activities through a head office and 21 field offices located in a number of regions and governorates in the Kingdom.
The Social Insurance Scheme is an aspect of social cooperation and solidarity provided by the society for citizens. The scheme covers workers in private sector and a group of workers in public sector. It also provides the contributors and their families with a decent life after leaving work due to retirement, disability or death; medical care for contributors afflicted with work injuries or occupational diseases; and necessary compensation in the event of occupational disability or death.

Saudi Social Insurance body switches to Gregorian calendar starting June

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Source link : http://www.arabnews.com/node/1310706/saudi-arabia

Author : malawi

Publish date : 27 May 2018 | 9:46 pm

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