استمع

What is the Social Protection Fund?

The Social Protection Fund is the official entity responsible for launching all social protection initiatives and programs in the Sultanate of Oman. It is an entity with administrative and financial independence established by Royal Decree No. (33/2021). Its mission is to implement the provisions of the Social Protection Law and the relevant legislation, and to cooperate with the authorities dedicated for carrying out protection, empowerment, integration, welfare and support programs to ensure the availability of such programs to eligible categories.

The fund aims to upscale the quality of life by providing social protection, and promote investment in society through social and economic policies and programs. The fund reviews the sustainability, efficiency, adequacy and fairness of the programs and policies. It also cross-checks whether such programs and policies achieve the national goals and objectives in relation to social protection by monitoring their sustainability, integrability, inclusiveness and stability in addition to their impact on the values of social partnership and their ability to preserve the rights of current and future generations.

Objectives of the Social Protection Fund:

The Fund aims to achieve the following:
  • Implementing the Sultanate of Oman’s vision and policy on social protection.
  • Providing insurance coverage and social protection adequate, fair and sufficient for various segments of society.
  • Establishing an integrated and sustainable social protection scheme.
  • Promoting the management and investment of the Fund’s resources in a manner that generates the best possible revenue within the scope of reasonable risks.
  • Aligning the Fund’s current and future assets and liabilities.
  • Developing savings tools and support programs to strengthen social protection.
  • Monitoring and measuring the performance of all social and economic and protection programs and policies.
Terms of reference and responsibilities of the Social Protection Fund:
The Social Protection Fund is empowered to achieve its goals and enforce the provisions of the Social Protection Law, promulgated by Royal Decree No. 50/2023, and other relevant legislations, including:
  • Proposing general policies for social protection, and contributing to social protection strategies and programs.
  • Enhancing the social protection system in terms of benefits and covered segments.
  • Implementing social protection programs and evaluating their effectiveness.
  • Investing and managing the entity’s funds inside and outside the country, distributing such funds on social protection categories and collecting the revenues for reinvestment.
  • Conducting studies and research on the Fund’s objectives and terms of reference.
  • Evaluating the performance of all social protection, empowerment, integration, rehabilitation and support programs, services and policies, and coordinating with the concerned authorities to develop and align their approaches with other relevant initiatives.
  • Signing agreements, memoranda of understanding and contracts relevant to the Fund’s terms of reference.
The Fund's social protection programs:

Social Protection Benefits:

The fund offers the following social protection monetary benefits:
  • Old-Age Benefit
  • Child Benefit
  • Disability Benefit
  • Orphans and Widows Benefits
  • Family Income Support Benefit

Social Insurance Schemes:

The Fund oversees the following social insurance programs:
  • Insurance for the Old Age, Disability, and Death
  • Insurance for work injuries and occupational diseases.
  • Insurance for Employment Security Scheme.
  • Insurance for Maternity leaves.
  • Insurance for Sick and Other leaves.