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4/1/2018 AD

 His Excellency the Governor: The strategy of PPA includes 6 channels 19 programs and 49 initiatives

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His Excellency the Governor of PPA, Mohammed bin Talal Al Nahhas said: "The strategy of PPA until 2022, announced by His Excellency the Minister of Civil Service, Chairman of the Board of Directors, Sulaiman bin Abdullah Al-Hamdan was prepared in accordance with the vision of the Kingdom 2030. We started the launching in order to contribute to the transformation process of PPA towards the development of services and enhancement of investment."
 
He pointed out that choosing this timing to announce the strategy of PPA came to show the developmental steps achieved in a short time since its inception. With the help of God Almighty, the huge support from the wise leadership and the commitment of BOD to achieve the goals, we reach to this level of accomplishment. 
 
He pointed out that PPA started 70 years ago and it needs to develop such strategy. Many experts and advisors in investment contribute to prepare the strategy. We made 23 standard comparisons with other international pension fund, we met more than 50 involved party and we met many pensioners and subscribers all over the kingdom in order to reach the strategy.
 
Surveys and workshops were conducted with more than 80 managers on investment costs and returns. We analyzed many studies and reports including PPA initiative that attached to vision 2030. In addition, a specialized and neutral agency studied the organizational health in order to develop the internal administrative system in PPA.
 
He added: "During 2017, PPA has made several achievements, including the preparation of a strategic plan consisting of 6 channels, 19 programs and 49 initiatives as well as establishing the financial investment sector in the leading investment company (Alraiddah) to manage PPA investments.  The company has been able to raise the level of competencies, employ many investment specialists and develop the appropriate organizational structure for the leading investment company (Alraiddah). In 2017, PPA managed to increase the return on investment to more than 8%.
 
The development of the housing loan program "Masaken" is one of the most prominent achievements. It financed the purchase of residential units for 4678 beneficiaries of state employees to represent the value of their properties financed by SAR (4.657) million. The program finance up to the age of 70 years beneficiary. It is flexible in terms of financing period from (5) years to (30) years. It, also, offers permit period at the beginning of financing up to (6) months and the instalment is stable for the whole period. It offers the solidarity between couples in all cities of the Kingdom within the urban area.
 
As part of the new strategy, PPA developed technology in work follow up, risk control and accurately follow up all sectors of PPA. It, also, launched the value-added services program and the benefits offered to pensioners and beneficiaries. PPA seeks to develop this program to include more features and offers to meet all the needs and aspirations of pensioners.
 
In the last quarter of 2017, the Board of Directors of PPA approved all the regulations and committees, including the non-participation of the Chairman of the Board in committees, disclosure policy, the absence or conflict of interests, and decentralization of decision-making.
 
PPA completed the collection of data and information on the subscribers from the civil sector by (99%). The collection of information from the military sector is underway. In addition, it has electronic link with 39 government agency.
In the framework of e-services, PPA ranked in the seventh position at the level of government agencies and second position in the work sector in the seventh measurement of the transformation of e-transactions provided by the program (yasser).
 
He pointed out that to implement the strategy; PPA will work during the current year 2018 on several projects as follows:
• Conducting intensive local and international studies to identify the distinguished investment opportunities.
• Orientation and focusing on privatization programs and quality projects.
• Expanding the offers and benefits for pensioners, subscribers and beneficiaries and launching a campaign in all regions of the Kingdom in cooperation with the private sector.
• Linking the benefits between the Civil and Military schemes and the General Organization for Social Insurance (GOSI).
• Developing and expanding the services of subscribers and pensioners, such as:
- Preparing electronic customer individual accounts to suit their needs, with the provision of integrated services for registration, completion of transactions, and other consulting services.
- Developing the call center, customer service and improving the quality of service provided to customers.
- Enhancing effective communication with all stakeholders through different communication channels and social media.
- Integrating and electronic link with all relevant government agencies.
- Developing the housing program to serve a larger segment of pensioners and subscribers.
• Working with the relevant authorities to start the project of developing and improving the retirement schemes.
 
His Excellency the Governor conclude with saying: "PPA has been able to serve more than (835) thousand civil and military pensioner as well as (482) thousand beneficiaries. It has also completed the payment for more than (50) thousand new pensioner during 2017. PPA paid more than SAR (67) billion as pensions for pensioners and beneficiaries during 2017.
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