Saudi Arabia’s Public Pension Agency (PPA) raised investment proceeds to more than 8 percent in 2017, said governor Mohammed bin Talal Alnahas.
The PPA provides services for more than 835,000 civil and military pensioners, in addition to 482,000 dependents.
The Saudi pension authority has also enrolled more than 50,000 new pensioners into the program, Alnahas said, adding that the PPA paid out more than SAR 67 billion in pensions last year.
The Saudi pension agency will undertake several projects in 2018, including:
- Conducting extensive studies to determine investment opportunities.
- Focusing on privatization programs as well as quality projects.
- Expanding benefits for retirees and dependents.
- Bolstering ties among the civil and military pension funds as well as the General Organization for Social Insurance (GOSI).
- Upgrading and expanding services for beneficiaries.
- Developing affordable housing programs catering to pensioners and beneficiaries.
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