Saudi Arabia pension system shows positive signs in 2020
We show you our most important and recent visitors news details Saudi Arabia pension system shows positive signs in 2020 Global Pension Index in the following article Hind Al Soulia – Riyadh – RIYADH — Mercer released the results of its 2020 Mercer CFA Institute Global Pension Index survey (MCGPI) that benchmarks retirement income systems around the World.
According to the survey, Saudi Arabia had an overall index value of 57.5 among the countries analyzed, scoring slightly higher than the previous year.
The slight increase in value from 57.1 to 57.5 is mainly attributed to a recent amendment in the retirement age for women, increasing from age 55 to age 60, which is now equivalent to men.
This measure implemented by the General Organization for Social Insurance (GOSI) has increased the sustainability score of the overall pension system in the Kingdom Tarek Zouiten, Mercer’s retirement business leader for the Middle East, said: “We are pleased to see Saudi Arabia maintaining consistent results for a third consecutive year.
Saudi Arabia’s system has a variety of good features and there are strong indications that the government is taking practical measures to ensure a sustainable system for the future generations.
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