Saudi Arabia Public Pension Agency GCC Insurance Protection
Name of the Organization : Public Pension Agency
Type of Facility : GCC Insurance Protection
Location: Riyadh
Country: Saudi Arabia
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Official Website : http://www.pension.gov.sa/sites/en/pensionscheme/ipe/Pages/default.aspx
GCC Insurance Protection:
In recognition by the leaders of GCC countries to the importance of social and economical impacts of pension schemes and social insurance on citizens of the GCC countries,
Related : Public Pension Agency Saudi Arabia Settlement Statement Print For Pensioner : www.statusin.org/5302.html
“The Insurance Protection Extension” (IPE) was issued. IPE stipulates to extend the coverage of pension and insurance schemes of each countries to include its respective expatriate employees in any of the GCC countries; a matter effectively contributing to insure the social protection network of the GCC countries’ citizens in other countries in addition to the role played by such IPE in encouraging experience sharing and labor force among the GCC countries.
The beneficiaries:
The provisions of IPE apply to the Saudi national working as a civil employee in any of the administrative units of KSA and the authorities and public institutions in any of the GCC countries where the provisions of extending civil service schemes are applicable in the workplace country or the functional systems emanating from the same which are subject to the pension schemes in such countries.
Conditions:
** The employee subject to IPE shall be a Saudi national.
** The employee’s age at commencement of subscription in the IPE may not be less than seventeen and not exceeding fifty nine.
** The employee must be working in any of the administrative units, authorities and public institutions in the workplace country subject to the laws or schemes of civil service and subject to the pension schemes therein.
Registration procedures :
Upon the appointment of any Saudi national in any of the administrative units, authorities and public institutions in any of the GCC countries and fulfillment of the required conditions, such unit shall register the Saudi national along with attaching the following documents:
** Registration form filled and attested by the employer in the workplace country.
** An attested copy of the national ID (Civil Status ID).
** An attested copy of the appointment decision.
** A copy of the pay scale to which the employee is subject if any.
** Such documents shall be served by the employer to the Civil Pension Agency / Social Insurance in the workplace country which shall serve the same to the PPA. Registration shall be performed on due dates and as per the rules and procedures stipulated in the pension scheme in the workplace country.
** Providing the civil pension agency / social insurance in the workplace country with the amendments to the employee’s basic information and the new insured’s names and those of service terminated monthly to be served to the PPA.
Subscription Percentages:
** Subscription salary is the fixed salary including the regular bonuses (annual premium).
** An employee’s share shall be (9 %) of the employee’s fixed salary.
** Employer’s share shall be (9 %) of the employee’s fixed salary or the applicable percentage in the workplace country if it is less than the same.
** Total subscriptions to be paid is (18 %) of the fixed salary.
** If the employer’s share is less than the above – mentioned percentage, the employee shall pay the difference.
** Subscription shall be charged even for the part of month when subscription commenced or terminated.
** Subscriptions shall be paid in the currency of the workplace country.
** Subscriptions shall be paid on due dates set in the pension scheme of the workplace country. The employer shall monthly discount the same as per the above percentages and deposit the same in the account defined by the agency which shall be provided with such account on due time. The employer shall also monthly notify the PPA about the details of subscriptions deposited in the bank account.
** Delay penalties of subscription payment according to the workplace country pension scheme shall be applicable.