In a significant development, as stated in Royal Decree No. 2023/50 and Royal Decree No. 2023/52, the structure of the Retirement Fund is currently undergoing a transformation.
All the assets and responsibilities of the fund will be transferred from the Central Bank of Oman (CBO) to the newly established Social Protection Fund (SPF).
Starting from March 2024, retirees can expect their pension payments to be facilitated through the Social Protection Fund. Along with this change, there will be a notable adjustment in the salary transfer date, which will now be set for the 23rd day of each month.
To bridge the gap during the transitional period from the beginning of the month until the mentioned date, pensions for January and February 2024 will be disbursed on January 11, 2024, and February 22, 2024, respectively.
This adjustment signifies a departure from the traditional payment schedule and is in line with the government's broader strategy. Moving forward, retirees can anticipate their pensions to be transferred on the 23rd day of each Gregorian month, starting from March 2024.
The Retirement Fund would like to express its gratitude for the understanding and cooperation of all recipients during this transitional phase. The importance of a smooth transition in pension disbursements is acknowledged, and further updates will be provided as the system undergoes these essential changes.
