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Oman: SPF announces 1% pension increase, 3% wage growth

Oman: SPF announces 1% pension increase, 3% wage growth

Oman: SPF announces 1% pension increase, 3% wage growth

Jan 21, 2025

Muscat – Social Protection Fund (SPF) has introduced key adjustments for 2025 in implementation of the Social Protection Law and its executive regulations.

The changes, approved by SPF Board of Directors and announced by H E Salim bin Nasser al Aufi, Minister of Energy and Minerals and Chairman of SPF, aim to enhance financial support for citizens and ensure economic stability.

Under Decision No 1/2025, issued on January 5, SPF has set an average wage growth rate of 3% for 2025. Additionally, a 1% increase in pensions will be provided for eligible individuals whose pensions became due before July 1, 2024.

The pension adjustments cover a wide range of categories, including non-occupational and permanent occupational disability pensions, death pension and elderly pension.

SPF has clarified that increases would not exceed the subscription wage ceiling, ensuring fairness across all categories.

These efforts reflect the government’s commitment to enhancing Oman’s social protection system, providing targeted financial assistance to citizens.

Since the Social Protection Law took effect in early 2024, SPF has implemented several programmes to expand social insurance and risk coverage. Among the notable achievements is the rollout of direct cash benefits to eligible individuals. By the end of October 2024, the Childhood Scheme had supported 1,232,283 Omani children aged up to 18. The Scheme for the Elderly assisted 167,527 beneficiaries, while 41,256 individuals benefited from the programme for persons with disabilities.

Support has also been extended to orphans and widows, with 16,325 beneficiaries recorded by October 2024. The newly introduced Family Income Support Scheme focuses on bridging the gap between actual income and target income for low-income families. By October 2024, the scheme had supported 42,510 beneficiaries.

A total of 1,499,901 individuals across Oman are now benefiting from various social protection schemes, showcasing the government’s dedication to creating an inclusive and sustainable safety net. These measures are expected to contribute significantly to improving living standards and economic resilience across the sultanate.