RIYADH: The Kingdom’s Public Pension Agency (PPA) announced that the total number of retirees has reached 42,392 and it’s expected to increase by the end of the year.

At present, the number of retirees under the PPA, the second largest Saudi pension fund, stands at 705,560 whose monthly pensions total SR4.7 billion.

The PPA, which is now a public entity with an independent management, finance and budget, has called on all members to update their contact numbers with it.

It has also underscored the need for the members to constantly remain in touch with the PPA which administers pension schemes both for civilian and military employees.

However, the PPA announcement has drawn different reactions from netizens, saying that developed countries increased the retirement age to 62.

“It’s about time the Kingdom increased the retirement age from 60 to 62. At age 60 many employees are still strong and could still work for a number of years,” said a commentator going by the name Zeze el.

Zeze el added that by extending the retirement age, the Kingdom will also benefit from the expertise of retirees because of their long years of service.

He was supported by Usman who said that many citizens in military service retire early so that they can work in the private sector while receiving their monthly pensions at the same time.