Al-Shoura to “Insurances”: Study the effects of raising the retirement age...

The Shura Council called on the General Organization for Social Insurance to study the reasons for the rise in the cases brought against the institution, classify those cases and the reasons for issuing rulings against the institution in these cases, work on them, study the economic and social effects of raising the retirement age to 65 years, and work on Classification of the categories that can be excluded from this decision when it is approved, provided that the lifting does not have any effect on the periods specified by the system for entitlement to early retirement.

This came in a decision issued by the Shura Council regarding the annual report of the Public Pension Agency (formerly) before its merger, for the fiscal year 1442/1441, after the Council heard the viewpoint of the Administration and Human Resources Committee, which included its recommendations regarding the report, during the Council’s forty-second regular session for the first year of The eighth session, which was held today (Tuesday) via video conference, was chaired by the Chairman of the Council, Dr. Abdullah Al-Sheikh.

The Shura Council also called on the General Organization for Social Insurance to work to raise awareness about the “Taqdeer” platform and evaluate the services that are provided through it, and work to link its services with the platforms of the authorities related to the affairs and needs of retirees. The military authorities should make the best use of the integrated Nishan platform, which contributes to the speedy completion of retired transactions quickly and with high accuracy.

During the session, and in a decision issued by the Council regarding the annual report of King Abdulaziz City for Science and Technology, for the fiscal year 1442/1441, after the Council heard the viewpoint of the Education and Scientific Research Committee that included its recommendations regarding the report, the Shura Council demanded the King Abdulaziz City for Science and Technology, to expedite the completion of Its new system, and the completion of its updated strategic plan (2025), to focus in its content on the most important areas and strategic national priorities that achieve the goals of the Kingdom’s Vision 2030.

The Shura confirmed its previous decision, which stipulated the following: “King Abdulaziz City for Science and Technology should develop its financial resources and diversify its sources of income, through the establishment of endowments and national funds, and other means that enable it to achieve the greatest amount of self-financing.”

He also called on the Shura Council to support the efforts of King Abdulaziz City for Science and Technology to expand research, development and innovation programs and projects related to national security and defense and to coordinate with the relevant authorities, and to support the city’s efforts in its strategic project “The Kingdom’s National Laboratory” and equipping it with the latest technologies; To enable it to contribute to the transfer and localization of technology, and to achieve national goals aimed at upgrading the research, development and innovation system.

In the context of the session, the “Shura” issued a decision regarding the annual report of the Capital Market Authority, for the fiscal year 1442/1441, after the Council heard the viewpoint of the Financial Committee, which included its recommendations regarding the report. Offering and listing requirements to become a catalyst for small and micro enterprises.

The Shura Council also called on the Capital Market Authority to promote local and international institutional investment, in addition to working on activating the rules, regulations and procedures and strengthening oversight over trading, corporate performance and listings for new companies to protect investors and the Saudi market.

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I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]