What's the difference between the old and new GOSI retirement systems?
Old system (for those who enrolled before July 3, 2024): 2.5% accrual rate per year of contribution, average wage of the last two years, and retirement age of 60 Hijri (about 58 Gregorian). New system (for those enrolling from July 3, 2024 onward): 2.25% rate per year, average wage of the highest/last 180 months (15 years), and retirement age of 65 Gregorian. Your system is determined by your contribution start date, not by your choice.
What's the minimum contribution period to qualify for a monthly pension?
120 months (10 years) at minimum upon reaching retirement age, or 300 months (25 years) for early retirement regardless of age. Less than that usually results in a one-time payout instead of a continuous monthly pension.
Does early retirement reduce the pension with a different formula?
No, the formula is the same in both cases. The only difference is the actual number of contribution years at early retirement, and therefore automatically a lower replacement rate — not a separate additional deduction.
What if I started contributing before July 2024 and I'm still working?
Your pension may be calculated as a mix of both system periods (2.5% for the period before July 2024, and 2.25% after) rather than a single system entirely. This calculator assumes only one system throughout the period to simplify the calculation, so your actual number may differ if you fall into this category.
Is the wage used in the calculation just the basic salary?
The "contributory wage" includes the basic salary and some fixed, ongoing allowances stipulated in the contract, not every allowance paid. There's also an upper cap on this wage (about 45,000 SAR) beyond which nothing is counted.
