Saudi Arabia Publishes New Financial Support for Retirees, Mentions Amount

Saudi Arabia Publishes New Financial Support for Retirees, Mentions Amount

  • King Salman has approved a package of financial support measures for Saudi citizens ahead of new utility tariffs
  • Retirees and eligible beneficiaries are among those set to receive a monthly allowance increase named in the directive
  • The announcement also targets private sector workers, with minimum wage thresholds under Saudisation rules set to rise

Saudi Arabia's King Salman bin Abdulaziz Al Saud has approved a set of financial relief measures for citizens, including retirees, ahead of planned adjustments to electricity and water consumption tariffs taking effect on January 1, 2027.

The directive, issued on October 25, 2026, in Riyadh, followed a proposal by Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud.

Saudi Arabia unveils new support for retirees, discloses payment amount
Saudi Arabia names the amount of new financial support available to retirees. Photo credit: Win McNamee, Wung Yu Liang
Source: Getty Images

It was announced alongside notices from Saudi Energy and the National Water Company regarding the forthcoming tariff changes.

Saudi Arabia: Monthly allowance for retirees and public workers

Under the approved measures, retirees and eligible beneficiaries of deceased subscribers or retirees under the Social Insurance system will receive a monthly allowance increase of SAR500 (approximately N180,385).

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Saudi Arabia announces new electricity and water tariff changes, sets start date

The same monthly increase applies to civilian and military personnel across civil service salary scales and those on operational programme contracts.

Families currently receiving Social Security benefits will also be entitled to a monthly stipend of SAR500 (approximately N180,385), to be disbursed through existing regulatory channels as a buffer against the impact of the revised utility tariffs.

Saudi Arabia: Private sector wage floors to rise

The package extends to Saudis employed in the private sector. Under the Nitaqat Saudisation programme, which sets requirements for the proportion of Saudi nationals companies must employ, the minimum qualifying wage will be raised to SAR5,000 (approximately N1,803,850) six months after the measures come into force.

A further increase to SAR6,000 (approximately N2,164,620) will follow twelve months after the first adjustment.

The government described the wage floor changes as a step towards boosting earnings for Saudi nationals and strengthening long-term employment in the private sector.

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Saudi Arabia announces new minimum wage for private sector workers, increases monthly allowance

Legit.ng reported that Saudi Arabia listed nine benefits foreigners will enjoy via its premium residence permit.

In a related story, Legit.ng reported that Saudi Arabia had set a date for changes to its electricity and water tariffs.

Saudi Arabia raises wage for private sector workers

Meanwhile, Legit.ng previously reported that Saudi Arabia increased its minimum wage for private sector workers and raised their monthly allowance.

Under the directive, civilian and military personnel on civil service salary scales, as well as those on operational programme contracts, will receive a SAR500 (approximately ₦180,383) increase in their monthly allowances.

Retirees and eligible beneficiaries of deceased subscribers or retirees under the Social Insurance system are also covered by this provision.

Source: Legit.ng

Authors:
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Victor Duru (Human Interest Editor) Victor Duru is a Reuters-trained, award-winning journalist with over 5 years of working experience in the media industry. He holds a B.Sc in Management Studies from Imo State University, where he was a Students' Union Government Director of Information. Victor is a human interest editor, strategic content creator, freelancer and a Google-certified digital marketer. His work has been featured on the US news media Faith It. He can be reached via victor.duru@corp.legit.ng