KSA raises retirement age

May 8, 2014 2:05 am

Saudi Arabia’s Shoura Council has approved a proposal to extend the retirement age of government employees to 62 from 60, in accordance with the Hijri (lunar) calendar, Arab News has reported. Mohammed Al-Kharashi, governor of the pension fund, said his organisation has proposed a new retirement law incorporating citizens’ opinions. “In some countries, it’s 68 in the Gregorian calendar,” he said, adding that early retirement would lead to wastage of capabilities and expertise acquired by employees.