62 to be the age of retirement

Updated 13 May 2014
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62 to be the age of retirement

The Shoura Council on Monday approved a proposal to extend the retirement age of government employees from 60 to 62 in accordance with the Hijri (lunar) calendar, while several experts insist that employees should retire at 65.
Fifty-nine members voted in favor of the motion, while 56 opposed, said Fahaad Al-Hamad, it assistant president. “The meeting reached this conclusion after hearing a report from Muhammad Al-Naji, chairman of the management and HR committee.”
Supporters said the present retirement age does not reflect the present health and social care available in the Kingdom, improving people’s life expectancy. At present, employees retire when they are in a better position to contribute more to the country’s progress, one member said.
“The present financial condition of the pension’s fund demands measures to increase its revenues, including extending the retirement age,” said another member. Opponents, nevertheless, said it would reduce job opportunities for young Saudi men and women.
Mohammed Al-Kharashi, governor of the pension fund, said his organization has proposed a new retirement law incorporating citizens’ opinions.
He described 60 as the lowest retirement age in the world. “In some countries, it’s 68 in the Gregorian calendar,” he said, adding that early retirement would lead to wastage of capabilities and expertise acquired by employees.
Abdelelah Saaty, dean of the College of Business in Rabigh, said the retirement age should be extended to 65 as in many other countries. “Life expectancy in the Kingdom has now reached 75 and employees can stay longer with better health,” he said. He urged the pension fund to change its investment strategy to increase its revenue.


King Salman speaks to China’s Xi on the telephone

Updated 20 September 2019

King Salman speaks to China’s Xi on the telephone

  • Xi told King Salman that China condemned an attack on the country’s oil facilities
  • He also called on all parties to avoid taking steps that would escalate the situation

RIYADH: Saudi Arabia’s King Salman spoke to Chinese President Xi Jinping on Friday, Saudi Press Agency reported. 
Xi told King Salman that China condemned the attacks on Aramco oil facilities that took place on Sept. 14 and called on all parties to avoid taking steps that would escalate the situation. 

He added that the attack is a “serious violation of the security and stability of Saudi Arabia,” and that China stands with the Kingdom.

The Chinese president also thanked King Salman for the positive measures Saudi Arabia has taken to ensure the continuation of oil supplies.