Saudi Arabia's Retirement Age Change: Impact on End of Service Benefit Valuations

The recent amendment to Saudi Arabia's Social Insurance Law has increased the statutory retirement age, impacting End of Service Benefit (EOSB) provisions under IAS 19 accounting standard. This video explores the key aspects of this change, including the background of the legislative change, its impact on Actuarial EOSB provisions, IAS19 accounting approach for recognizing these changes, factors influencing the impact of the change, and practical insights for year end actuarial valuations. Click to know more!