Insurance for jobless Saudis to be tackled by Shoura

Insurance for jobless Saudis to be tackled by Shoura
Updated 21 May 2013

Insurance for jobless Saudis to be tackled by Shoura

Insurance for jobless Saudis to be tackled by Shoura

Draft regulations of an insurance scheme for unemployed Saudis are likely to be debated at the Shoura Council today.
The insurance scheme consists of 31 articles. It falls under the General Organization for Social Insurance (GOSI) and provides “a minimum amount of income for a worker who lost his/her job for reasons out of his/her hands ...”
The scheme also allows for further training to encourage workers to keep looking for jobs.
The system will be mandatory for Saudi men and women, but the worker should not be above 59. The subscription to the system is 2 percent of the salary. The employer pays 1 percent and the employee 1 percent. The Shoura statement is silent on whether the scheme would cover non-Saudis in future.
However, GOSI Gov. Suliman bin Abdulrahman Al-Gwaiz announced last week that expatriates could join GOSI to get insurance cover for workplace injuries.
Al-Gwaiz said workers could register with GOSI’s occupational hazards branch from their date of entry into the Kingdom or the date of transfer to a new employer.
Al-Gwaiz urged all employers to avoid penalties by registering their workers and their wages on the GOSI website not later than the first 15 days of the month following the date of the worker’s entry or the date of transfer of his or her services.