Saudi: King Orders 20% Increase in Social Security Pension, Reaching SR1320
The Ministry of Human Resources and Social Development announced that a royal decree was issued to make an increase of 20 percent in the social security pension, reaching SR1320 from SR1100.
This directive shows the keenness and concern of the Custodian of the Two Holy Mosques King Salman in improving the living standard of male and female citizens and alleviating their financial burdens. The directive was issued by the King in line with a recommendation made by the Crown Prince and Prime Minister and Chairman of the Council of Economic and Development Affairs Mohammed bin Salman.
The King also issued a directive to continue opening registration and additional financial support for beneficiaries of the Citizen’s Account Program for a period of three months that will continue disbursing among the batch of beneficiaries until the month of December this year. The royal decree also authorized the Citizen Account Committee to add parameters with the aim of raising the efficiency of support and ensuring that it reaches the most deserving segments of Saudi society.
The extension of support to the beneficiaries of the Citizen’s Account Program also comes as an extension of the previous generous directive that came into force in July 2022, and the support has been continued until it covers the beneficiaries of the September 2023 batch.
The increase in the basic minimum for calculating the pension will contribute directly to meeting the most basic needs of every beneficiary, according to Mohammed Al-Rizqi, a ministry spokesman. He said that the decision to increase the pension will come into force from Nov. 1, 2023, and the increase will be applied to all beneficiaries automatically without the need for the beneficiary to take any action from their side.
“The social security pension for the breadwinner will now be SR1320 instead of SR1100, and for the dependent, it will be SR660 instead of SR550. The social security pension increase includes all eligible family members, not exceeding the upper limit of the per-family pension than SR5000,” he said.
