PASI Public Authority For Social Insurance : End of Service Pension Payment Oman

Name of the Organization : Public Authority For Social Insurance
Type of Facility : End of Service Pension Payment
Country : Oman

Official Website : https://www.spf.gov.om/

End of Service Pension Payment :

** Payment of Pension Fund (Retirement)- Monthly Payment
** PASI applies two types of retirements, the Early and Normal retirements,

Related : PASI Payment of Pension Fund Death : www.statusin.org/5517.html

** Once a male insured employee reaches the age of 45 years and has spent a minimum of 20 years working in the private sector he is entitled to a monthly retirement’s salary.
** Once a female insured employee reaches the age of 45 years and has spent a minimum of 15 years working in the private sector she is entitled to a monthly retirement’s salary.

Normal Retirements:
** Once a male insured employee reaches the age of 60 years and has spent a minimum of 15 years working in the private sector he is entitled to a monthly retirement’s salary.
** Once a female insured employee reaches the age of 55 years and has spent a minimum of 10 years working in the private sector she is entitled to a monthly retirement’s salary.

Who can request this service:
Citizens and Business

Steps to follow to request the service:
A- Process steps:
Employee must complete and submit Employee End of Services Form at any PASI office enclosed with:
** End of Services Benefit Request Form or Age Maturity Reward Form
** A copy of passport or ID card.
** Application sent to Pension Department which calculates benefit based on a particular and built-up formula depending primarily on the basic salary and the service period.
** PASI pension department notifies insured employee.
** Payment is made directly into an appointed bank.

B- Procedures and forms required for requesting the service:
** Depends on the type of maturity type form should be filled:
** For Old Age Pension: Old age pension form should be filled.
For End of service gratuity : Gratuity end of service form should be filled

What documents are needed to process:
** End of Services Benefit Request Form or Age Maturity Reward Form
** Copy of identity documents
** Application for payment of entitlements

Special conditions if any applicable:
For old age Pension:
** Termination of the services of the insured on reaching sixty year of age as long as his service period is (15) years as minimum for male worker or on reaching fifty five years of age for the female worker as long as her service period is (10) years as minimum.
** Termination of the service of the insured before reaching sixty year of age as long as his service period is (20) years as minimum for male worker or before reaching fifty five year of age for the female worker as long as her service period is (15) years as minimum.
** Termination of the service of the insured after reaching sixty year of age for male worker or before reaching fifty five year of age for the female worker as long as the service period is (15) years as minimum out of which (36) consecutive months during the last five years prior to the termination of service.

For End of service gratuity:
** Service of the insured expires
** He/she does not meet the conditions for entitlement to pensions
** His/her contributions period should not be less than one full year

How the service is processed:
5 Days

How long will it take:
5 Days

Download Form : http://www.oman.om/wps/portal/!ut/p/…22/paymentofpf