The Council of Ministers,
after perusal of Royal Court File 48293 dated 24 Sha’ban 1442 [6 April 2021], which includes the Minister of Finance, Chairman of the Board of Directors of the General Organization for Social Insurance Letter 8802 dated 22 Sha’ban 1442 [4 April 2021], regarding the minutes of the committee formed based on Clause Fourth of Council of Ministers Decision 769 dated 30 Dhu Al-Qa’dah 1441 [21 July 2020],
after perusal of the Civil Pension Law issued by Royal Decree D/41 dated 29 Rajab 1393 [27 August 1973] and its amendments,
after perusal of the Social Insurance Law issued by Royal Decree D/33 dated 3 Ramadan 1421 [29 November 2000] and its amendments,
after perusal of the Law on the Exchange of Benefits Between the Civil and Military Pension Laws and the Social Insurance Law issued by Royal Decree D/53 dated 23 Rajab 1424 [20 September 2003] and its amendments,
after perusal of Council of Ministers Decision 769 dated 30 Dhu Al-Qa’dah 1441 [21 July 2020],
after perusal of Bureau of Experts at the Council of Ministers Memo 2085 dated 20 Dhu Al-Qa’dah 1442 [30 June 2021] and Memo 513 dated 28 Safar 1443 [5 October 2021],
after perusal of Council of Economic and Development Affairs Recommendation 28-48/42/I dated 25 Dhu Al-Hijja 1442 [15 July 2021],
and after perusal of General Committee of the Council of Ministers Recommendation 2483 dated 25 Rabi Al-Awwal 1443 [31 October 2021],
hereby decides
First
The Saudi Authority for Intellectual Property shall pay the additional financial costs resulting from the Civil Pension Law due to the application of the procedures mentioned in Council of Ministers Decision 769 dated 30 Dhu Al-Qa’dah 1441 [21 July 2020], which amount to 4,316,090 (four million three hundred and sixteen thousand and ninety) Riyal.
Second
The Saudi Authority for Intellectual Property shall pay the additional financial costs resulting from the Social Insurance Law due to the application of the procedures mentioned in Council of Ministers Decision 769 dated 30 Dhu Al-Qa’dah 1441 [21 July 2020], which amount to 26,379,997 (twenty-six million three hundred and seventy-nine thousand nine hundred and ninety-seven) Riyal.
Third
The additional financial costs—referred to in clauses First and Second of this decision—must be paid within 12 months from the date of 31 December 2020, on the basis of which the actuarial valuation was prepared, in accordance with the established legal procedures.
The Prime Minister
Issued on: 18 Rabi Al-Thani 1443
Corresponding to: 24 November 2021
Published in Umm Al-Qura 4911 issued on 3 December 2021.