Social insurance subscriptions drop 4% in Q2: GOSI

Saudi Arabia’s General Organization for Social Insurance (GOSI) said that a total of 9.13 million private sector employees were registered in the social insurance scheme by the end of Q2 2018, a decline of 4 percent quarter-on-quarter (QoQ).

Insured citizens, which account for 19 percent of the total private sector subscribers, decreased by 28,400 clients to 1.73 million in Q2, compared to the previous quarter.

The number of insured expatriate workers also retreated by 312,600 QoQ to 7.39 million during the second quarter. They account for 81 percent of the Kingdom’s total private sector subscribers.

Regarding salaries, a total of 778,000 (or 45 percent) of Saudi insured employees earned salaries below SAR 3,000 a month, while 228,300 Saudi employees (or 13 percent) received above SAR 10,000 a month.

Meanwhile, 6.4 million foreigner employees (87 percent of total expatriate workforce) earned less than SAR 3,000 per month, while 245,300 expatriates (3 percent) were paid more than SAR 10,000 a month in Q2.

Region wise, Riyadh accounted for the largest number of insured workers at 3.3 million, or 36 percent of total subscribers.

The building and construction sector accounted for 40 percent of the total subscribers in Q2 with 3.62 million employees, while the commercial sector represented 25 percent or 2.31 million workers.