King Salman Approves Financial Relief for Retirees in Saudi Arabia

On October 25, 2026, King Salman bin Abdulaziz Al Saud of Saudi Arabia approved a series of financial relief measures for citizens, particularly retirees, in anticipation of new electricity and water consumption tariffs set to take effect on January 1, 2027. The measures, proposed by Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud, include a monthly allowance increase of SAR500 (approximately N180,385) for retirees and eligible beneficiaries under the Social Insurance system.

This increase also extends to civilian and military personnel across civil service salary scales and those on operational programme contracts. Families receiving Social Security benefits will similarly receive the SAR500 monthly stipend.

Additionally, the Nitaqat Saudisation programme will see the minimum qualifying wage for Saudi nationals in the private sector raised to SAR5,000 (approximately N1,803,850) six months after the measures are implemented, with a further increase to SAR6,000 (approximately N2,164,620) twelve months later. These changes aim to enhance earnings for Saudi nationals and strengthen long-term employment in the private sector.