Pension Agency-GOSI merger ensures optimal resource utilization, says Al-Jadaan

Minister of Finance, Mohammed Al-Jadaan

Mohammed Al-Jadaan, Saudi Minister of Finance and Board Chairman of the General Organization for Social Insurance (GOSI), said the Cabinet decision to merge the Public Pension Agency (PPA) into GOSI contributes to eliminate overlapping competences.

The decision also ensures the optimal resource utilization, enhances the operational and financial efficiency, and improves client services.

 
The merger is an administrative process that aims to unify the insurance protection services for employees in the public and private sectors. It comes as part of a continuous reform and restructuring process, in line with Vision 2030, the minister added.
 

The merger will enhance the financial position of the pension fund through maximizing investment returns and providing integrated efforts to promote the financial performance and strategic distribution, Al-Jadaan concluded