Al-Marsad Newspaper: The General Organization for Social Insurance announced the approval of amending the subscription rates in the “Sanid” unemployment insurance system, whereby it was approved to reduce the subscription rates to be (1.5%) one and a half percent of the wage subject to contributions instead of (2%). Two percent shall be borne equally by both the contributor and the employer, as of 1/1/2022.
The Corporation explained that the decision to reduce the subscription rate comes as a result of the continuous periodic evaluation of the fund’s obligations and the benefits granted by the system, as the periodic evaluation of the system and review of the subscription rates continue according to the approved mechanism, which reflects the flexibility of procedures in developing and improving regulations and legislation, stressing that the decision to reduce subscription rates does not affect The amount of compensation due to SANED beneficiaries, whether current or future beneficiaries.
And the social insurance indicated that the rates of bearing the new contributions will be (0.75%) on the contributor and (0.75%) on the employer, instead of (1%) on the contributor and (1%) on the employer, and the collection mechanism will continue as it was in the past. The Corporation invited its customers, in case of any inquiries, to review the Frequently Asked Questions page of the Sanid system in its electronic portal or communicate with the various digital customer care channels.
