Understanding Balance Recovery and Contribution Calculation in Saudi Social Insurance: A Detailed Guide

by time news

2024-07-12 12:40:44

As part of its ongoing effort to improve transparency and simplify procedures, she explained General Organization for Social Insurance In the Kingdom of Saudi Arabia, there is a mechanism to recover the balance of subscribers when they cancel their subscription, as well as how to calculate the amounts paid for the subscription. This step comes within the framework of the Corporation’s desire to provide excellent services to subscribers and guarantee their financial rights.

Balance refund mechanism when subscription is cancelled:

Subscribers who wish to cancel their Social Security subscription can retrieve their accumulated balance in their personal account, subject to the following terms and conditions:

1. Submitting a request to cancel a subscription: The subscriber must submit a request to cancel a subscription with the General Organization for Social Insurance, by visiting one of its branches or through the available electronic channels. 2. Meeting the conditions: The subscriber must meet the necessary conditions to recover the balance, including: * No financial obligations owed by the subscriber to the institution. * The participant is not entitled to any insurance benefits, such as a retirement or disability pension. 3. Review the request: The organization reviews the request to cancel the subscription and ensures that the necessary conditions are met. 4. Disbursement of the balance: If the application is approved, the balance due to the participant will be disbursed to his bank account registered with the organization.

How to calculate the amounts paid for the donation:

The amounts paid in social insurance contributions are calculated based on the subscriber’s monthly wage and the specified contribution percentage. Contributions are calculated on a monthly basis and include employee and employer contributions.

To ensure the accuracy of amounts paid, subscribers can view their subscription account statement through the organization’s website or smartphone application.

Important Notes:

* The credit recovery process may take some time, as it is subject to review and audit by the institution. * Subscribers can contact the General Organization for Social Insurance to inquire about any additional information or to submit complaints or suggestions.

Through these procedures, the General Organization for Social Insurance aims to facilitate the process of recovering the balance for subscribers, guarantee their financial rights, and improve trust and transparency in their relationship with them.

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