MUSCAT, DEC 17
In a significant development, outlined in Royal Decree No. 2023/50 and Royal Decree No. 2023/52, the structure of the Retirement Fund is undergoing a transformation.
All assets and responsibilities of the fund will be shifted from the Central Bank of Oman (CBO) to the newly established Social Protection Fund (SPF).
Commencing March 2024, retirees can expect their pension payments to be facilitated through the Social Protection Fund, accompanied by a noteworthy change in the salary transfer date, set for the 23rd day of each month.
To bridge the transitional period from the beginning of the month until the mentioned date, pensions for January and February 2024 will be disbursed on January 11, 2024, and February 22, 2024, respectively.
This adjustment signifies a departure from the traditional payment schedule, aligning with the government's broader strategy. Going forward, retirees can anticipate their pensions to be transferred on the 23rd day of each Gregorian month, starting from March 2024.
The Retirement Fund expresses gratitude for the understanding and cooperation of recipients during this transitional phase, acknowledging the importance of a smooth transition in pension disbursements. Stay tuned for further updates as the system undergoes these essential changes.
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