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The Representatives’ delegation in the Representatives’ government committee to discuss the pension law “A new vision, setting controls and direct supervision from the Council of Representatives and the National Audit Office on the decisions and recommendations of the Board of Directors of the Social Insurance Organization”

12 September 2018

MP Ali Al-Aradi, First Deputy Speaker of the Council of Representatives, Head of the Council of Representatives’ delegation in the joint representatives’ government committee to discuss the pension law, stated that a consultative meeting was held to inform them of the ideas and vision of the Representatives’ delegation regarding the two pension draft bills.

The legislative forms of the pension laws’ articles were discussed; pointing out that everyone is working with great care and responsibility to implement the royal directives to achieve the preservation of pension funds, ensuring the continuity of their work, ability to meet their obligations, the development of their work, and reform of the pension system.

On behalf of the members of the Representatives’ delegation in the Joint Committee, MP Al-Aradi thanked the members of the government and Shura Council delegations for their proposals and views to address the state of the funds and solve the actuarial deficit that were suggested during the joint meetings held throughout a period of two months. The two delegations had shown great cooperation and true partnership in order to arrive at harmonized forms that would achieve the desired objectives from the committee’s work, and showed the extent care and responsibility of the two delegations.

The head of the Representatives’ delegation added that the delegation found that all the solutions and proposals presented by the government’s delegation, although good, are not sufficient to realize and actualize an actual solution to the state of the funds, nor do they set the necessary controls to achieve direct supervision of the funds. Therefore, the Representatives’ delegation presented amendments and a new vision, which requires the supervision of the National Audit Office on the decisions and recommendations of the Board of Directors of the Social Insurance Organization. In addition, the proposed amendments from the Representatives’ delegation imposed a direct mechanism for the Representatives’ oversight on the recommendations and decisions of the Board of Directors of the Organization via the elected council’s supervision over the responsible minister.

It was agreed at the meeting to discuss the proposed amendments according to the new vision by the members of the Council of Representatives, which are to be discussed and reviewed during a subsequent meeting, and that the opinion of an actuary expert would be taken in the proposed amendments. He concluded the meeting by praising the proposals of the Representatives and the attendance, which reflects their interest and keenness towards the benefit of the country and the citizens.

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