Since the beginning of 2024, the Social Protection Fund (SPF) has been carrying out the Social Protection Law’s requirements, offering a comprehensive social safety net for citizens at all stages of life.
Muscat – With the aim of protecting individuals and families from the multiple risks they face over their lifetime, the Fund has reached approximately 1.5 million beneficiaries by the end of October 2024.
The Social Protection Law, which took effect on January 1, 2024, introduced direct cash benefits for eligible segments of society. These benefits, fully funded by the state’s public treasury, include provisions for persons with disabilities, children, the elderly, orphans, and widows. The aim is to ensure decent living standards and sustainable well-being for citizens in line with Oman Vision 2040.
As of October 2024, the implementation of the childhood benefit has supported around 1.23 million Omani children from birth until the age of 18. The elderly benefit, aimed at supporting senior citizens, has reached 167,527 individuals, while the benefit for persons with disabilities has been extended to 41,256 beneficiaries. The orphan and widow benefit had 16,325 beneficiaries by the same time, highlighting the system’s broad reach across vulnerable groups.
In addition to these benefits, the ‘family income support benefit’ has proven crucial in assisting low-income groups. By providing financial assistance to bridge the gap between the actual and targeted income, this support is aimed at ensuring that citizens in need are adequately supported. To date, more than 42,500 beneficiaries have received family income support, bringing the total number of recipients of the social protection benefit to nearly 1.5 million.
The SPF also oversees social insurance programs, which are funded through contributions from both employers and workers. These programs cover a range of contingencies, including elderly, disability, and death insurance, work injury and occupational disease insurance, job security insurance, maternity leave, sick leave, and savings systems.
By October 2024, the number of active insured persons in the private sector under the elderly, disability, and death insurance scheme reached 259,577, while the government sector had 190,420 active insured persons. Additionally, 6,194 Omani nationals working in the Gulf Cooperation Council (GCC) countries are also covered under the extension of insurance, with 38 active insured persons abroad and 120,926 self-employed Omanis benefiting from the program.
Moreover, the number of Omani retirees receiving pensions has reached 89,680, and 69,127 individuals are entitled to pensions under the insurance scheme.
On the investment front, the SPF has made significant strides in managing its assets. As of the end of October 2024, the Fund had achieved 99.8 percent of its total asset transfer target, with an asset management strategy that began at the close of 2023.
The Fund has also made significant progress in its digital transformation journey, with 63 percent of its digital transformation targets achieved by the end of 2024. Over 20 digital transformation projects are planned for 2024-2025, with 51 percent of the targets for 2024 already met.
The Fund has continued to expand its partnerships, linking with 12 government institutions this year to further extend its social safety nets. This expansion of the protection umbrella is seen as an important step towards a more inclusive social support system that reaches a broader range of citizens.
The Sultanate’s commitment to social protection is in line with His Majesty Sultan Haitham bin Tariq Al Said’s vision, reflecting his continued focus on strengthening social welfare systems. The initiatives implemented by the Social Protection Fund are central to achieving the social objectives outlined in the ‘Oman 2040’ vision, which seeks to provide sustainable and inclusive growth for all Omani citizens.
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