GOSI’s assets exceed SAR 1.2 trln, says Al-Jadaan

Saudi Arabia’s General Organization for Social Insurance (GOSI) has over SAR 1.2 trillion in assets, said Minister of Finance Mohammed Al-Jadaan.

Speaking at the Regional Social Security Forum for Asia and the Pacific (RSSF Asia-Pacific), the minister said the merger of the Public Pension Agency and GOSI aimed to unify regulations and policies, as well as enhance financial sustainability.

Saudi Arabia is a flag raiser in developing social insurance, which is considered a fundamental pillar for achieving comprehensive and sustainable development within the framework of Vision 2030, Al-Jadaan said.

Lately, the Kingdom has been keen on launching qualitative initiatives and developing innovative insurance products to enhance the community’s social protection and ensure financial stability, he added.

In June 2021, the Saudi Cabinet approved the merger of the Public Pension Agency with GOSI, according to data available with Argaam.