In a significant move aimed at enhancing the welfare of Saudi citizens, the Ministry of Human Resources and Social Development has announced a royal decree issued by Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud. The decree brings about a remarkable 20% increase in social security pension benefits, elevating the monthly pension from SR1100 to SR1320. This visionary step underscores the commitment of the Kingdom's leadership to improve the quality of life for both male and female citizens, relieving them of financial burdens.
1. King Salman's Vision: This directive reflects the unwavering dedication of King Salman to uplift the living standards of Saudi nationals. His commitment to this cause is evident in this generous increase in social security pension benefits.
2. Crown Prince's Recommendation: The royal decree aligns with a recommendation put forth by Crown Prince and Prime Minister, Mohammed bin Salman, who also chairs the Council of Economic and Development Affairs. This collaborative approach ensures that the decision is well-founded and considers the broader economic impact.
3. Support for the Citizen's Account Program: In addition to the pension increase, King Salman has extended support for the Citizen's Account Program beneficiaries for an additional three months. This program provides financial assistance to eligible Saudi citizens, reinforcing the government's commitment to social welfare.
4. Efficiency Enhancement: The decree authorizes the Citizen Account Committee to introduce parameters aimed at enhancing the efficiency of support distribution. This strategic move ensures that financial aid reaches those who need it most within Saudi society.
5. Continued Support: The extension of support builds upon a previous directive from July 2022 and now covers beneficiaries until the September 2023 batch. This continuity provides ongoing financial stability for recipients.
6. Impact on Beneficiaries: The increase in the basic minimum pension has a direct impact on beneficiaries' lives, helping them meet their most fundamental needs. This positive change takes effect from November 1, 2023, and will be automatically applied to all eligible recipients without requiring any action on their part.
Mohammed Al-Rizqi, spokesperson for the Ministry of Human Resources and Social Development, emphasized that this directive is designed to address the most pressing needs in Saudi society. It ensures that beneficiaries have a minimum income that covers their essential expenses, promotes social support and protection, and empowers them by fostering financial independence.
This royal decree marks a significant step toward improving the lives of Saudi citizens, reducing financial burdens, and enhancing social welfare. It exemplifies the commitment of Saudi Arabia's leadership to prioritize the well-being of its people.
