Article 7 of the Saudi Civil Retirement Law
المادة 7 من نظام التقاعد المدني
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.
Official text (Arabic)
This article has not been amended since the law was issued.
يكون المدير العام للمصلحة مسئولًا أمام مجلس الإدارة عن سير العمل فيها، ويحدد مجلس الإدارة صلاحياته فيما يتعلق بإدارة المصلحة واستثمار أموال الصندوق.
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 7 explained in plain English
This Article is short, but it defines the relationship between the Agency's director general and the board of directors.
- Responsibility: The director general of the Retirement Pensions Agency is responsible to the board of directors for the conduct of work in the Agency.
- Powers: The Article does not itself set the director general's powers; it leaves it to the board of directors to determine them in relation to managing the Agency and investing the Fund's money.
This Article is consistent with Article 6, which gives the board of directors management of the Fund and supervision of the management of the Agency, including setting the general investment plan. The board sets the policy and determines the powers, and the director general implements and is answerable to the board. The following Article 8 also shows that the board of directors is the body that studies the report on the periodic review of the Fund's financial position and submits it to the Council of Ministers.
It follows that knowing the limits of the director general's powers on any matter requires referring to what the board of directors decides, because the Law does not detail them in this Article.
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 7 of the Saudi Civil Retirement Law
To whom is the director general of the Retirement Pensions Agency answerable?
He is responsible to the board of directors for the conduct of work in the Agency.
Who determines the powers of the Agency's director general?
The board of directors determines them in relation to managing the Agency and investing the Fund's money.
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 4
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.
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
- 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 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.