What are the statutory pension benefits in Saudi Arabia?

Pension contributions in Saudi Arabia are not regulated under the Labor Law. Only Saudi nationals are eligible for retirement, old-age, and survivors' benefits. The General Organization for Social Insurance (GOSI) administers these social insurance programs.

Key points to note include:

• Male employees at 60 years of age (62 under the Hijri calendar) and female employees at 55 with at least 120 months of contributions to the social insurance fund qualify to receive a pension.
• The contribution is split equally between the employer and the employee and does not apply to expatriates.
• Employers are also required to make occupational hazard insurance contributions of 2% on an employee’s wages, unless the employee is exempt (specific government employees and domestic workers, as examples).
• Employers must also pay into the SANED unemployment insurance program, which is overseen by the GOSI.