Saudi: Pension Payments Set For Start-Of-Month Disbursement
The General Organization for Social Insurance (GOSI) has announced a unified date for the disbursement of retirement pensions for beneficiaries under both the civil and military retirement systems and the social insurance system.
Starting from May 1, 2024, pensions will be disbursed at the beginning of each Gregorian month.
This measure aims to synchronize the pension disbursement date for all customers, ensuring uniformity in the payout of insurance benefits and the procedures among retirees and beneficiaries of the retirement and social insurance systems in the Kingdom.
This aligns with the steps taken following Cabinet Decision No. 657 dated 15/11/1442, which mandated the merger of the Public Pension Agency into GOSI.
GOSI clarified that with this amendment, pensions for all customers will be paid on the first day of each Gregorian month starting from the mentioned date.
Consequently, the pension for May will be disbursed on the first day of the month, and thereafter, pensions will continue to be disbursed on the first day of each month.
GOSI added that disbursing pensions on the first day of each month represents an advance payment for that month, compared to the previous disbursement schedule at the end of each month.
To ensure that none of the customers are adversely affected by this change, April’s pensions for retirees and beneficiaries of the civil and military retirement systems will be disbursed on schedule on April 25.
The May pension will then be paid on May 1, thereby standardizing the pension disbursement date for all customers from May 1, 2024.
