Article 4 of the Saudi Civil Retirement Law
المادة 4 من نظام التقاعد المدني
Except for managing the Fund's investments, the Agency is subject to the General Civil Service Law, the Hired Staff Law and the State's financial regulations, and is headed by a director general assisted by a deputy.
Official text (Arabic)
This article has not been amended since the law was issued.
فيما عدا ما يتعلق بإدارة استثمار أموال الصندوق، تخضع مصلحة معاشات التقاعد لنظام الموظفين العام ونظام المستخدمين، والأنظمة المالية المعمول بها في الدولة ويكون لـ وزير المالية والاقتصاد الوطني في تطبيق هذه الأنظمة الصلاحية المقررة للوزير، ويرأس المصلحة مدير عام ويساعده نائب له في حضوره ويقوم مقامه في غيابه، وتحدد مرتبة المدير ونائبه بقرار من مجلس الوزراء بناءً على اقتراح وزير المالية والاقتصاد الوطني .
This is the official Arabic wording, the only legally binding version. We do not translate the law itself; the explanation below is ours. Official source: Bureau of Experts at the Council of Ministers
Article 4 explained in plain English
This Article regulates the administrative status of the Retirement Pensions Agency, the body that manages the retirement fund under Article 3.
- The laws to which it is subject: The Agency is subject to the General Civil Service Law, the Hired Staff Law and the financial regulations in force in the State, except for matters relating to managing the investment of the Fund's money; that aspect is excluded from being subject to those laws.
- The Minister's authority: In applying these laws, the Minister of Finance and National Economy has the authority given to the Minister.
- Leadership: The Agency is headed by a director general, assisted by a deputy who assists him when he is present and acts in his place in his absence.
- Grade: The grade of the director and his deputy is determined by decision of the Council of Ministers on the proposal of the Minister of Finance and National Economy.
This Article does not explain how investments are managed or what provisions apply to them instead of the State's laws. The director general mentioned here is linked to Article 5, which makes him a member of the Pension Fund's board of directors, and to Article 3, which provides that the Agency is independent and linked administratively to the Ministry of Finance.
This Article is mainly organizational and is of interest to the Agency's staff and to those following how retirement funds are managed.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
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Frequently asked questions about Article 4 of the Saudi Civil Retirement Law
Is the Retirement Pensions Agency subject to the General Civil Service Law?
Yes. It is subject to it, and to the Hired Staff Law and the State's financial regulations, except for matters relating to managing the investment of the Fund's money.
Who heads the Retirement Pensions Agency?
It is headed by a director general, assisted by a deputy who assists him when he is present and acts in his place in his absence.
Who determines the grade of the Agency's director?
The grade of the director and his deputy is determined by decision of the Council of Ministers on the proposal of the Minister of Finance and National Economy.
More articles on Retirement Fund and Its Board
- Article 3
The Fund has an independent financial liability and is managed by the Retirement Pensions Agency, an independent agency linked administratively to the Ministry of Finance, which the Council of Ministers may entrust with implementing other retirement laws.
للصندوق ذمة مالية مستقلة، وتديره - وفقًا لأحكام هذا النظام - مصلحة معاشات التقاعد وهي مصلحة مستقلة تمول من الصندوق وترتبط إداريًّا بوزارة المالية والاقتصاد الوط
- Article 5
The Article sets the composition of the Pension Fund's board of directors, chaired by the Minister of Finance, and the way it meets, its quorum and how its decisions are issued.
يؤلف مجلس الإدارة على الوجه التالي: - وزير المالية والاقتصاد الوطني ، أو من ينيبه. رئيساً - رئيس ديوان الموظفين العام . عضواً - محافظ مؤسسة النقد . عضواً - مدير
- Article 6
The Article gives the board of directors management of the Fund and supervision of the Agency, and lists its powers over implementing the Law, investment, the budget, auditing and the final account.
يتولى مجلس الإدارة إدارة الصندوق والإشراف على إدارة المصلحة، ويتولى في ذلك بصفة خاصة الصلاحيات الآتية: 1 - الإشراف على تنفيذ هذا النظام، وإصدار القواعد التنفيذي
- Article 7
The Agency's director general is responsible to the board of directors for the conduct of its work, and the board determines his powers in managing the Agency and investing the Fund's money.
يكون المدير العام للمصلحة مسئولًا أمام مجلس الإدارة عن سير العمل فيها، ويحدد مجلس الإدارة صلاحياته فيما يتعلق بإدارة المصلحة واستثمار أموال الصندوق.
- Article 8
The Fund's financial position must be reviewed every three years by an actuary or a specialized institution, and the board of directors submits the report to the Council of Ministers with its comments and proposals.
يفحص المركز المالي للصندوق مرة كل ثلاث سنوات من تاريخ العمل بهذا النظام بواسطة خبير كتواري أو مؤسسة متخصصة في هذا المجال، ويتناول الفحص تقدير التزامات الصندوق ا
- Article 9
The Article deals with how a deficit in the retirement fund is settled and allows new benefits to be added for beneficiaries when there is a surplus, both requiring Council of Ministers approval.
إذا تبين وجود عجز في الصندوق فتتم تسويته وفق الطريقة التي يحددها مجلس الإدارة ويوافق عليها مجلس الوزراء ، أما إذا تبين وجود فائض يسمح بإضافة مزايا جديدة للمنتفع
The texts are reproduced from the official website of the Bureau of Experts at the Council of Ministers for reference; where they differ, the officially published Arabic text prevails. This content is not legal advice.