{"id":18513,"date":"2025-08-23T14:49:12","date_gmt":"2025-08-23T14:49:12","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/18513\/"},"modified":"2025-08-23T14:49:12","modified_gmt":"2025-08-23T14:49:12","slug":"saudi-arabia-to-launch-voluntary-pension-savings-scheme-for-expats","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/18513\/","title":{"rendered":"Saudi Arabia to launch voluntary pension, savings scheme for expats"},"content":{"rendered":"<p> <img decoding=\"async\" fetchpriority=\"high\" src=\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2025\/08\/Saudi-Riyal.jpg\" alt=\"A stack of Saudi Riyal banknotes and coins, featuring denominations like 500 and 1 riyal, with the Kaaba image and Arabic script on the notes, and gold\/silver coins, on a dark surface.\" is_main_img=\"1\" width=\"1200\" height=\"675\" class=\"attachment-full size-full wp-post-image sp-no-webp\"\/>   A stack of Saudi Riyal banknotes and coins featuring various denominations, including the Kaaba image and Arabic script, on a dark surface.    <\/p>\n<p><strong>Riyadh:<\/strong> The Kingdom of Saudi Arabia (KSA) is preparing to introduce a new voluntary pension and savings scheme that will be available to both citizens and expatriates.<\/p>\n<p>The initiative, reported in the International Monetary Fund\u2019s (IMF) latest Article IV consultation and cited by Al-Eqtisadiah newspaper, aims to encourage households to save more and reduce the flow of money sent abroad by foreign workers.<\/p>\n<p>Also Read<\/p>\n<p><a href=\"https:\/\/www.siasat.com\/video-saudi-man-prevents-gas-station-explosion-awarded-medal-and-rs-2-cr-3262121\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\" class=\"also-read-link\">Video: Saudi man honoured for preventing gas station explosion<\/a> <\/p>\n<p>In 2024, remittances from Saudi Arabia rose 14 percent to Saudi Riyals (SR) 144.2 billion. Over the past decade, they reached SR 1.43 trillion.<\/p>\n<p> <a href=\"https:\/\/forms.gle\/Ra71M9QCEdsnn5uP8\" target=\"_blank\" rel=\"noopener noreferrer nofollow\" style=\"display: block;\"> <img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"MS Teachers\" width=\"336\" height=\"280\" style=\"width: auto; max-height: 280px;\" data-lazy-src=\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2025\/08\/MS-Teachers.webp.webp\"\/> <\/a>  <\/p>\n<p>By the first quarter of 2025, the Kingdom\u2019s social insurance system had 12.8 million subscribers, with expatriates making up nearly 10 million, or 77 percent.<\/p>\n<p>The IMF noted that pension reforms introduced in July 2024 \u2014 including a higher retirement age, longer contribution periods and increased contribution rates \u2014 will help secure the system\u2019s long-term sustainability.<\/p>\n<p>Also Read<\/p>\n<p><a href=\"https:\/\/www.siasat.com\/half-price-travel-saudia-launches-50-pc-discount-on-all-intl-flights-3260516\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\" class=\"also-read-link\">Half-price travel: Saudia launches 50 pc discount on all int\u2019l flights<\/a> <\/p>\n<p>While these changes will not deliver immediate financial savings, the IMF said the new voluntary savings scheme is a positive step that could improve household savings and reduce reliance on remittances.<\/p>\n<p>The Fund also highlighted that assets managed by the General Organisation for Social Insurance (GOSI) amount to 32 percent of Saudi Arabia\u2019s GDP, urging greater transparency in financial reporting and asset management.<\/p>\n","protected":false},"excerpt":{"rendered":"A stack of Saudi Riyal banknotes and coins featuring various denominations, including the Kaaba image and Arabic script,&hellip;\n","protected":false},"author":2,"featured_media":18514,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177],"tags":[79,18,3044,19,17,2987,234,235,15112,16353],"class_list":{"0":"post-18513","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-eire","10":"tag-expats","11":"tag-ie","12":"tag-ireland","13":"tag-pension","14":"tag-personal-finance","15":"tag-personalfinance","16":"tag-saudi-arabia","17":"tag-scheme"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/18513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=18513"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/18513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/18514"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=18513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=18513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=18513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}