Muscat: Oman will introduce a compulsory savings scheme for expatriate employees starting in 2027, part of a wider set of reforms designed to improve financial security for the country’s foreign workforce.
The Social Protection Fund announced that employers will be required to set aside nine per cent of an expat worker’s basic salary into a regulated savings programme. The funds accumulated under the scheme will be released to employees once their service in the Sultanate ends.
The program aims to help expats build a financial reserve during their period of employment in Oman, ensuring workers have access to savings when they complete their contracts or return to their home countries.
A work injury insurance scheme is also planned for 2028. Under this system, a one per cent salary contribution will be required, and workers injured on the job will be eligible for compensation of up to RO3,000.
According to the Social Protection Fund, the measures are aimed at strengthening Oman’s social protection system while improving worker welfare and enhancing the long-term stability of the labor market. (Courtesy: The Siasat Daily)
