Saudi Arabia’s ministry of economy and planning has finalized amendments to the existing social insurance and pension law, Al-Watan newspaper reported on Sunday.

 

Amendments could enhance the fiscal balance between the finances and liabilities of the pension program, the Public Pension Agency (PPA) said.

 

A committee was formed upon request of the Saudi Council for Economic Affairs and Development to develop necessary solutions for deficit at the PPA and General Organization for Social Insurance (GOSI).

 

Meanwhile, the PPA added that it is coordinating with GOSI to enhance spending efficiency and investment capacities. 

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