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Pension law in Jeddah, Saudi Arabia, like the rest of the Kingdom, falls under the jurisdiction of the General Organization for Social Insurance (GOSI). The law mandates employers to contribute to the employees' pensions for their retirement, disability or death. The pension system is designed to provide financial security for workers, and their dependents, in case of retirement, disability, or death, ensuring a stable income source in these events.
There are several instances when you might need a lawyer with expertise in Saudi Arabia's pension law. Scenarios may include disputes regarding the calculation of retirement benefits, early retirement packages, issues of disability pension, or survivor's pension in case of death. Additionally, if you are an employer, you might need legal advice regarding your obligations under Saudi Arabia's pension law.
Under Saudi Arabia's labor law, both employers and employees are legally required to make contributions to the GOSI. The employer's contribution corresponds to 9% of the employee's wage, whereas the employee contributes 9% of their own wage. Furthermore, workers with at least 20 years of contribution or women who have contributed for at least 10 years qualify for a pension. Contributions made for the period exceeding 180 days in a Hijri year count as a full year.
Anyone who has made the necessary contributions to the GOSI and has reached the legal retirement age, which is 60 for men and 55 for women, is eligible to receive a pension. This is applicable for both Saudi nationals and expatriates. If an insured person dies, his dependents are also entitled to a pension.
Yes, if an individual becomes permanently disabled while insured, they are entitled to a pension equal to 100% of their average daily wage.
In the unfortunate event of a contributor's death, the pension will be distributed among their dependents according to specific proportions mandated by the law.
The pension is calculated based on your average wage over the last two years of your employment and the number of years you have contributed to the scheme. The calculation can be complex and it's advisable to get legal advice if you think your pension has been incorrectly calculated.
Yes, you can work after retirement and receive a pension. However, there may be specific regulations that you have to adhere to, depending on the nature of your work and income.
For more detailed information, individuals are advised to consult the General Organization for Social Insurance (GOSI) as it is the primary governmental agency responsible for pensions in Saudi Arabia. They provide comprehensive details on pension policies and contributors' rights and obligations.
If you need legal assistance with your pension in Jeddah, Saudi Arabia, the first step is to consult with a lawyer who specializes in pension law. They can help you understand your rights and obligations under Saudi Arabia's pension law, assist in dispute resolution and guide you through the legal process, if necessary.
