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Social
Insurance Board meets. |
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The Public Authority for Social Insurance (PASI) board held its 3rd
meeting of the year under the chairmanship of Shaikh Abdullah bin
Nasser al Bakri, Manpower Minister and Chairman of the PASI’s Board
in the presence of under-secretaries. |
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The
board discussed revision of the social insurance law. It will
complete its discussion in the next meeting expected to be held
towards the end of December. The draft law comprises a number of
amendments introduced by the Authority in consideration of the new
standards and changing features of social insurance laws.
It will benefit from other countries’ experience and the Authority’s
experience in applying the current law. The board also viewed new
investment activities due to be initiated during the forthcoming
period in addition to developments of internal and external funds.
Other things discussed were memoranda related to businessmen, those
insured, memoranda submitted to the board on registration of
national associations and a number of memoranda on some
administrative applications. |
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Royal
Decree No. 71/2008 amending some provisions of the Social Insurance
Law. |
Royal Decree No. 71/2008 amending some provisions of the Social
Insurance Law.
The minimum pension of the following pensioners, in line with the
above mentioned provisions of the Social Insurance Law, will be
increased to RO100 per month.
l Pension for the old aged including the early pension, permanent
disability pension or death following the work accidents or
vocational illness.
l Pensions for the Omanis working abroad as per the Social Insurance
Law. |
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The following pensions will be
increased to the percentage mentioned below.
Twenty-five per cent for the work accident and vocational sickness
pensioners — partially disabled — who are currently getting less
than RO80 per month.
Fifteen per cent will be increased for those who are getting RO80
and more but not exceeding RO200 per month.
Ten per cent will be increased for those who are getting RO200 and
more but not more than RO300 per month.
Five per cent will be increased for those who are getting RO300 and
more.
Article 2 cancels all that contradict this decree or contravene with
its provisions.
This decree will be published in the official gazette and will have
retrospective effect from April 1, 2008. |
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Royal
Decree No. 5/2006 deals with the application of the Unified System
of Insurance Protection Cov |
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Royal
Decree No. 5/2006 deals with the application of the Unified System
of Insurance Protection Cover for GCC citizens who are not working
in their countries. Article 1 of the decree states that the Unified
System of Insurance Protection Security Cover/Civil |
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ension/Social
Security/ for GCC citizens who work in a GCC state which is not
their home country will be applied taking into consideration the
following: Provisions of the Pension and Gratuity Law for Omani
government employees shall be applied on Omanis who are not
receiving a pension from the Sultanate when they work in the
administrative departments of any of the council"s states or public
authorities and establishments which are subject to the civil
pension systems of the council"s states. The provisions of the
Social Security Law will be applicable on Omanis who are not
receiving a pension from the Sultanate when they work in GCC private
companies or establishments which are subject to GCC states" social
security system.
Article 2 states ministries, public authorities and establishments,
other government civil authorities and private sector companies and
establishments which apply on their employees the provisions of the
aforementioned pension and gratuity law or the social security law
or any other civil pension law will register their GCC employees and
pay the assigned contributions as per the above-mentioned unified
system. Article 3 states that the provisions of the social security
system on Omanis working abroad and those who are in that capacity
which was issued by Royal Decree No.32/2000 will be suspended on
Omanis who are subject to the provisions of the aforementioned
Unified System for Insurance Protection Cover as from the date the
system becomes effective. Their service period, which is subject to
the provisions of the Royal Decree No. 32/2000, will be calculated
within their service period calculated in the pension or gratuity,
according to the following terms:
Contributions shall be paid in complete for these periods; the
insured should not have received any insurance benefits for these
periods. The Civil Service Employees Pension Fund will receive the
outcome of contributions of the insured who work in any of the
authorities stipulated in Clause 1 of Article 1 of this decree.
Article 4 states that the gratuity system stipulated in the Civil
Service Law and its executive regulation, or the Labour Law or any
other law shall be suspended on GCC citizens who work in the
Sultanate from the date they have become subject to the provisions
of the aforementioned Unified Insurance Protection Cover System
without violating their right in the assigned gratuity on their
service period before the provisions of this system became
effective.
Article 5 states that the Minister of the Diwan of the Royal Court,
Chairman of Civil Service Employees Pension Fund Board and the
Manpower Minister, Chairman of the Public Authority for Social
Insurance"s (PASI) board will issue regulations and executive
decisions to apply the aforementioned Unified Insurance Protection
Cover, each within the scope of his prerogatives, after the approval
of the concerned board. The decree cancels all that contravenes this
law, or contradicts its provisions. The decree comes into effect
from January 1, 2006. |
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Public Authority for Social Insurance (PASI) will participate in the
10th regional conference |
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The Sultanate represented by the
Public Authority for Social Insurance (PASI) will participate in
the 10th regional conference for retirement systems and social
insurance organized by the Public Authority for Pension Fund in
the Kingdom of Bahrain under the motto ?developing retirement
systems: implementations steps? during the period March 14th and
15th. PASI will participate in the conference with a |
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working paper which will be
presented by Saleh bin Nasir al Araimi, director-general of PASI
in which he will touch on PASI experience in insurance system
field and important stages it went through regarding insurance
branches in practice and amendments to develop insurance
programmes.
The conference aims to shed light on reforming and developing
retirement systems in a more scientific and practical manner and
the important challenges facing retirement systems in the Arab
region and how to develop them particularly under the
demographic and economic changes, implementation of reforming
retirement systems and financing health care after retirement.
The conference will also discuss insurance against unemployment,
increasing expected returns after evaluating the risks via
alternative investments and rights transferred. A large
gathering of speakers from various parts of the world will
address the conference. |
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