Saudi Arabia: The payment of pensions has begun

The Public Pension Agency has started the payment of pensions for each beneficiary through his/her own bank account, starting from yesterday.

The Public Pension Agency has indicated that this procedure will be effective for the new beneficiaries, and that it will not accept any agent for the disbursement of pensions. Moreover, the institution must provide the bank account numbers for each beneficiary.

In its communiqué, the agency urged the existing beneficiaries, who receive their pensions through their agents, to provide them with their own bank account numbers, in order to deposit their pensions directly into their bank accounts and to avoid the non-receiving of pensions, as a result of the expiration of the agent's legal agency.

It pointed out that the new procedure contributes to the direct transfer of pensions to the accounts of beneficiaries.

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