His Majesty Sultan Haitham issues Royal Decree establishing Social Protection Fund

His Majesty Sultan Haitham
His Majesty Sultan Haitham

Muscat: His Majesty Sultan Haitham bin Tarik  issued a Royal Decree No. 33/2021 regarding retirement and social protection systems.

Article one

A fund called the “Social Protection Fund” shall be established, which shall have legal personality and enjoy financial and administrative independence.

Article two

A fund called the Military and Security Services Retirement Fund shall be established and shall have legal personality and enjoy financial and administrative independence affiliated with the Council of Ministers, and its regulations shall be issued by a Royal Decree

Article three

The committee formed by a decision of the Council of Ministers shall supervise the development of the necessary controls and complete all procedures related to the assignment of tasks, specializations, assets, rights, obligations, financial assets and receivables for each of:

Civil Service Employees Retirement Fund, Public Authority for Social Insurance, Royal Guard of Oman Retirement Fund, Royal Office Retirement Fund, Internal Security Service Pension Fund, Sultan Special Force Retirement Fund, Royal Court Staff Pension Fund, Royal Oman Police Retirement Fund, Ministry of Defense Retirement Fund, Central Bank of Oman Employees Retirement Fund and Fund The retirement of Petroleum Development Oman employees to the fund stipulated in Articles One and Two of this Decree, each according to the circumstances

The aforementioned committee is also responsible for setting controls and procedures for restructuring retirement and social protection systems, preparing two draft systems for the two funds stipulated in Articles 1 and 2 of this Decree, and preparing a draft Social Protection Law that includes pension systems to be applied to all employees and workers and the provisions related to the social protection system during Twelve months from the date of issuance of this decree

Article IV

The boards of directors of the retirement funds and the aforementioned General Authority for Social Insurance and their executive departments shall continue to exercise their duties in accordance with the controls and procedures approved by the committee stipulated in Article Three of this Decree.

Article V

The minimum years of service required for voluntary retirement entitlement in all applicable laws, regulations and regulations shall be 30 years of service. This provision does not apply to those who have completed 20 years of service on the date of the issuance of the Social Protection Law.

Article VI

The treatment of employees transferred pursuant to the Royal Decrees related to the restructuring of the state’s administrative apparatus who completed two-thirds of the contribution period required for the entitlement of the pension on the date those decrees came into effect in accordance with the provisions, laws, systems and regulations of the retirement to which they are subject before their transfer, their contributions paid and their rights settled according to the same provisions, without prejudice to the provisions of Article 5 of This decree

Article Seven

All that contradicts this decree or contravenes its provisions shall be repealed

Article 8

This decree shall be published in the Official Gazette and shall be enforced from the date of its issuance, with the exception of Article Six, and shall be enforced from the date of issuance of the Royal Decrees related to the restructuring of the state’s administrative apparatus

 

 

 

 

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