Abdullah Al-Abdul-Jabbar, the official spokesperson at the organization, said: The method of calculating the pension is determined according to the provisions of the Social Insurance Law, where it is calculated on the basis of the average contribution wage during the last two years of the contribution period. The spokesperson called for accuracy in what is published about the organization, with the aim of spreading the correct information and communicating the correct information to citizens.
The Riyadh Chamber praised the system and said that it completes the social protection system for Saudi workers in the private sector.
On the other hand, in the context of following reactions to the “Sand” system recently approved by the Social Insurance Institution, the Riyadh Chamber praised the system and said that it completes the social protection system for Saudi workers in the private sector. <The Human Resources Committee said: The system ensures the provision of material income for workers and their families during the period of unemployment, which is what more than 56 countries have been keen to apply to avoid the risks of unemployment and achieve social security.
Engineer Mansour Al-Shari said.
Engineer Mansour Al-Shathri, Chairman of the Committee, said: “Sand” allows monitoring the real numbers of the unemployed and identifying unemployment rates and the sectors in which they are prevalent on an objective basis, which facilitates efforts to address them.“
He praised the unemployment insurance system. He praised the unemployment insurance system ”Sand“, describing it as completing the system of social protection for Saudi workers in the private sector.
He said: ”The importance of the unemployment insurance system is very important. He said: “The importance of applying the system in the Kingdom stands out with the growing number of Saudis working in private sector establishments, which has become the largest channel for employing young people, and some of them may face a period of unemployment either because their work contract expires and is not renewed by the employer, or for economic reasons“ related to the establishment.
He added that the application of the system is important. He added that the implementation of the system comes in light of ”the reluctance of young people to go to work in the private sector because they believe that there is no financial security in it, while the financial stability that SANED will provide will contribute to motivating young people to go to work in the private sector.”
The chairman of the Resources Committee explained that SANED is the largest channel for employing young people. “Sand does not interfere in the contractual relationship between the worker and the employer governed by the labor law and does not affect the legal status of the worker and does not encourage the employer to dismiss the worker or not renew his work contract or affect his compensation for dismissal and judgment to return to work after his dismissal.”
The head of the Human Resources Committee at the Riyadh Chamber explained: “Sand does not interfere in the contractual relationship between the worker and the employer governed by the labor law and does not affect the legal status of the worker. Regarding the mandatory participation, he said: ”The mandatory participation is similar to the mandatory participation in the social insurance and retirement systems that have been applied in the Kingdom for more than 40 years, and participation is mandatory in most countries of the world that apply the system.“
He explained. <He explained that the system, in terms of its scope of application, the contribution rate and who bears it, as well as the conditions for obtaining compensation and the duration of its payment and its interruption, is consistent with the standards of the International Labor Organization adopted under its conventions and recommendations that aim to set minimum limits for social protection systems for citizens. He said: “The General Organization for Social Insurance has held several workshops in the past two years to discuss the ”Sand” system, in which the committees of the Chambers of Commerce participated as representatives of employers, and the system was discussed in the Shura Council in the middle of last year before its adoption.“
The head of the Human Resources Committee at the Riyadh Chamber emphasized that according to the average wages of Saudis registered in social insurance, the average value of a Saudi worker's contribution to the system is 51 Saudi riyals borne by the worker per month and the same amount from the employer.
He continued. He continued: ”It is similar to the contribution rate, conditions for obtaining compensation and the amount of the compensation rate applied in the unemployment insurance system in Bahrain for more than eight years and achieved great success that was praised by many international organizations."
