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Jeddah - Yasmine El Tohamy - Finance minister highlights Saudi Arabia’s social security milestones at Riyadh forum
RIYADH: The Regional Social Security Forum for Asia and the Pacific opened in Riyadh on Tuesday, under the patronage of Mohammed Al-Jadaan, minister of finance and chairman of the General Organization for Social Insurance.
Organized every three years by the International Social Security Association, the forum addresses future challenges and opportunities in social security.
It aims to strengthen strategic partnerships and facilitate the exchange of experiences in various sectors.
Al-Jadaan said that the Kingdom is a leading model in developing a robust social insurance system, a key pillar of Saudi Vision 2030.
“In recent years, we have launched innovative initiatives and services to enhance social protection and ensure financial and living stability for the community,” he said.
He also highlighted the merger of the Public Pension Agency and the General Organization for Social Insurance to unify systems, streamline policies, and strengthen financial sustainability.
The total assets of the organization, after merging with the PPA, exceed SR1.2 trillion ($319 billion), Al-Jadaan added.
He also pointed to the Citizen Account Program, which supports Saudi families against the economic effects of reforms, with total aid exceeding SR222 billion since its launch.
“Collaboration among government institutions has led to the launch of several digital platforms, enhancing citizen services. This effort positioned the Kingdom fourth globally in the E-Government Development Index, first regionally, and second among G20 nations,” he said.
Al-Jadaan said that Riyadh has become a global hub for gatherings and a leading platform for international cooperation, where key issues are addressed and solutions proposed for today’s challenges.
Mohammed Azman, president of the ISSA, said: “Today we gather in Riyadh, a city steeped in history yet looking boldly to the future. This forum is not just another meeting; it is a testament to our shared commitment to innovation, inclusion, and resilience in insurance protection.”
Abdulaziz Alboug, governor of GOSI, said that during the COVID-19 pandemic, Saudi Arabia supported more than 480,000 employees with $2.5 billion through the SANED program. Additionally, 12 million workers benefit from the Occupational Hazards Branch.
The organization invested in digital infrastructure, completing 130 million electronic operations this year and securing second place in the Digital Experience Maturity Index. The organization prioritizes innovative insurance solutions for citizens, residents, and visitors, he added.
Amr Kurdi, assistant governor for financial sustainability and risk management at GOSI, said that social insurance implements strategies to address challenges and risks in insurance systems. It follows a systematic approach to managing investment funds, with a specialized team ensuring optimal returns to support financial sustainability.
Marwan Al-Ghamdi, assistant governor for strategy and transformation at GOSI, highlighted the opportunity to expand insurance coverage, particularly with the growing number of young workers. He emphasized the continuous evolution of insurance systems to enhance pension efficiency and provide optimal protection for participants and their families, aligning with labor market changes.
Abdulmohsen Al-Khalaf, vice minister of finance, said that social insurance is a vital component of the social protection system, offering financial support to private sector and government employees covered by labor laws, ensuring their insurance protection after service completion.
Ahmed Al-Omran, assistant governor for IT at GOSI, said that artificial intelligence is transforming work processes, recently surpassing doctors in diagnostic accuracy tests. However, AI also contributes to job losses, which the SANED program addresses by supporting the unemployed.
He also said that Saudi Arabia’s centralized database enhances personalized services and helps entrepreneurs provide tailored solutions to clients.
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