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Royal Decree

Royal Decree 33/2021 regarding the Systems for Retirement and Social Security

2021/33 33/2021

Arabic

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

Royal Decree 50/80 Establishing Petroleum Development Oman Limited Liability Company,

the Law on Pensions and End of Service Gratuity for Omani Government Employees promulgated by Royal Decree 26/86,

the Social Insurance Law promulgated by Royal Decree 72/91,

Royal Decree 3/93 Establishing the Royal Guard of Oman Pension Fund,

Royal Decree 6/93 Establishing the Royal Office Pension Fund,

Royal Decree 87/93 Establishing the Ministry of Defence Pension Fund,

Royal Decree 7/94 Establishing the Internal Security Service Pension Fund,

Royal Decree 101/94 Establishing the Sultan’s Special Force Pension Fund,

Royal Decree 31/96 Determining the Rules Governing the Investment of the Funds of the Public Authority for Social Insurance and Pension Funds,

the Law on Pensions and End of Service Gratuity for Omani Employees of the Diwan of Royal Court promulgated by Royal Decree 86/96,

the Law of Pensions and End of Service Gratuity for the Personnel of the Royal Oman Police and the Royal Oman Police Pension Fund Basic System promulgated by Royal Decree 2/2000,

the Social Insurance System for Omanis Working Abroad and Their Equivalent promulgated by Royal Decree 32/2000,

the Banking Law promulgated by Royal Decree 114/2000,

the Law of Pensions and End of Service Gratuity for the Personnel of the Ministry of Defence and the Sultan’s Armed Forces promulgated by Royal Decree 3/2002,

Royal Decree 5/2006 regarding the Application of the Unified System to Extend Insurance Protection for Nationals of the States of the Cooperation Council for the Arab States of the Gulf Working in States Other than Theirs,

the System of Social Insurance for Self-Employed Omanis and Their Equivalent promulgated by Royal Decree 44/2013,

the System of the Administrative Apparatus of the State promulgated by Royal Decree 75/2020,

and Royal Decree 15/2021 regarding the Application of the Unified System to Extend Insurance Protection for Military Personnel That Are Nationals of the States of the Cooperation Council for the Arab States of the Gulf Working in a Member State of the Council Other than Their State,

and in pursuance of public interest,

have decreed as follows

Article I

A fund named the “Social Security Fund” is hereby established. It shall have legal personality, shall enjoy financial and administrative independence, and shall be subordinate to the Council of Ministers. Its system shall be issued by a royal decree.

Article II

A fund named the “Military and Security Services Pension Fund” is hereby established. It shall have legal personality, shall enjoy financial and administrative independence, and shall be subordinate to the Council of Ministers. Its system shall be issued by a royal decree.

Article III

The committee formed by a decision of the Council of Ministers shall supervise the setting of the necessary controls and complete all procedures relating to transferring the tasks, competences, assets, rights, obligations, holdings, and financial liabilities of each of the Civil Service Employees Pension Fund, the Public Authority for Social Insurance, the Royal Guard of Oman Pension Fund, the Royal Office Pension Fund, the Internal Security Service Pension Fund, the Sultan’s Special Force Pension Fund, the Omani Employees of the Diwan of Royal Court Pension Fund, the Royal Oman Police Pension Fund, the Ministry of Defence Pension Fund, the Employees of the Central Bank of Oman Pension Fund, and the Employees of Petroleum Development Oman Pension Fund, to the two funds stipulated in article I and article II of this decree, as the case may be.

The aforementioned committee shall also undertake the setting of controls and procedures for restructuring the systems for retirement and social security, preparing the drafts of the fund systems stipulated in articles I and II of this decree, and preparing a social security draft law that includes the retirement systems to be applied to all employees and workers, and the provisions relating to the social security system, within 12 (twelve) months from the date of the issuance of this decree.

Article IV

The boards of directors of the retirement funds and the aforementioned Public Authority for Social Insurance and its executive management shall continue to exercise their tasks in accordance with the controls and procedures approved by the committee stipulated in article III of this decree.

Article V

The minimum years of service required for optional retirement entitlement in all applicable laws, systems, and regulations shall be 30 (thirty) years of service, and this provision shall not apply to those who have completed 20 (twenty) years of service on the date of the issuance of the Social Security Law.

Article VI

The employees transferred under the royal decrees relating to the restructuring of the administrative apparatus of the state, who completed two-thirds of the contribution period required for pension entitlement on the date those decrees came into force shall continue to be treated in accordance with the provisions of the retirement laws, systems, and regulations to which they are subject before their transfer. Their contributions shall be paid and their rights shall be settled in accordance with the same provisions, without prejudice to the provision of article V of this decree.

Article VII

All that is contrary to this decree, or in conflict with its provisions, is hereby repealed.

Article VIII

This decree shall be published in the Official Gazette and comes into force on the date of its issuance, with the exception of article VI, which shall come into force on the date of the issuance of the royal decrees relating to the restructuring of the administrative apparatus of the state.

Issued on: 24 Sha’ban 1442
Corresponding to: 7 April 2021

Haitham bin Tarik
Sultan of Oman

Published in Official Gazette 1387 issued on 11 April 2021.