The following terms - as mentioned in the Law - are defined as follows:
Employee: A person who has a permanent regulatory relationship with the state or public authorities, including this term are employees and workers, and it also includes ministers, their deputies, and those holding the excellent rank.
General Panel: Any administrative entity with an independent financial liability, including this term are public institutions, municipalities, and any institution whose regulations stipulate that its members are subject to the Retirement Law.
Board of Directors: The Board of Directors of the Retirement Fund.
Fund: The Civil Retirement Fund.
Interest: The Retirement Pension Interest.
Retiree: An employee whose service has ended.
Pension: The amount paid monthly under this Law to the retiree or their beneficiaries.
Reward: The lump sum amount paid under this Law to the retiree.
Pensioner: The retiree who has been granted a pension under this Law, including this term is an employee who has passed away and has been granted a pension under this Law.
Beneficiary: A person who has been granted a pension due to their relationship with the pensioner.
The terms mentioned in the definitions are interpreted with the meanings defined in this article, and the masculine and feminine terms as well as singular and plural terms are included unless the context indicates otherwise.

The provisions of this Law apply to all Saudi civilian employees appointed to ranks in the public budget of the state or the budgets of public authorities. However, if an employee holds more than one of these ranks, the provisions of this Law shall only apply to the position with the higher rank.
The provisions of this Law do not apply to those holding the rank of Minister who receive monthly allowances while holding this rank, unless they choose to waive the monthly allowance in exchange for benefiting from the advantages of this Law.

The fund has an independent financial liability, and it is managed - in accordance with the provisions of this law - by the Retirement Pensions Authority, which is an independent authority funded by the fund and is administratively linked to the Ministry of Finance and National Economy. Its financial year is the same as the financial year of the state. The Council of Ministers may, by a decision, delegate the aforementioned authority to implement any other retirement system.

Except for matters related to the management of the fund's investment assets, the General Organization for Retirement Pensions is subject to the Civil Service System and the User System, as well as the financial regulations in force in the state. The Minister of Finance and National Economy has the authority prescribed for the minister in the application of these regulations. The organization is headed by a Director General, assisted by a Deputy who acts in his presence and substitutes for him in his absence. The rank of the Director and his Deputy is determined by a decision of the Council of Ministers based on the proposal of the Minister of Finance and National Economy.

• The Board of Directors is composed as follows:

  • - The Minister of Finance and National Economy, or his representative. President

  • - The President of the Civil Service Bureau. Member

  • - The Governor of the Saudi Central Bank. Member

  • - The Director General of the Retirement Pension Authority. Member

  • - Two individuals with high specialization, one in management and the other in economics. Members

• The Board of Directors convenes at the invitation of its President whenever necessary, and its meeting is valid only with the presence of the majority of its members. Decisions are made by a majority of the votes of those present, and in the event of a tie, the side of the President prevails.

The Board of Directors is responsible for managing the fund and supervising the management of the interest, and it specifically holds the following powers:
1 - Supervising the implementation of this law and issuing the executive regulations for it.
2 - Developing the general plan for investing the fund's assets and managing the investment, and issuing the necessary regulations for its implementation.
3 - Approving the annual budget for the interest in preparation for its issuance in accordance with the law.
4 - Appointing one or more auditing firms to carry out the accounting audit for the interest according to recognized standards and determining their compensation.
5 - Approving the final accounts of the interest in preparation for submitting them to the Council of Ministers for ratification.

The General Director of the Authority shall be responsible to the Board of Directors for the progress of work therein, and the Board of Directors shall define his powers regarding the management of the Authority and the investment of the Fund's assets.