Saudi pension changes could hamper early retirement plans ...Kuwait

The New Arab - News
Saudi pension changes could hamper early retirement plans
Saudi authorities are mulling changes to the way pensions work in the kingdom, forcing nationals to put more money in and stay in employment for longer. Riyadh's national pension scheme has a serious hole in its finances, thought to be to the tune of approximately $213 billion, Bloomberg reported on Tuesday. The kingdom is, therefore, mulling whether to raise the age of retirement, three knowledgeable sources told the business-centred news agency. Saudis may additionally have to give more of their income over to the body that administers pensions, according to these same informed sources. Known as the General Organization for Social Insurance (GOSI), it looks after p

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