GOSI says no deductions from cost of living allowances

Saudi Arabia's General Organization for Social Insurance (GOSI) deposited the monthly pensions and cost-of-living allowances without any deductions in beneficiaries' accounts in less than two weeks from King Salman's royal decree.

The SAR 500 allowance is equally distributed among all family members, the state-owned organization added in a statement on Thursday.

Earlier this month, the Saudi monarch ordered payment of several allowances to state employees and military staff, along with exemption from value-added tax (VAT) for some citizens to offset rising cost of living, Argaam reported.

Under the new decree, pensioners will also receive a monthly allowance of SAR 500 for one year from the Public Pension Agency (PPA) and the General Organization for Social Insurance (GOSI).

More than 360,000 beneficiaries receive pensions of over SAR 1.69 trillion on a monthly basis.