State pension plan in Qatar: State pension plan system for Qataris provides pension to Qatari men who are above 60 years old and women who are above 55 years old who have contributed 15 years. After retirement, employee is eligible for minimum of 75% of his/her monthly gross salary and the maximum is 100%.
Exapts: Expats are not eligible for state pensions. They are eligible for gratuity. Gratuity will be given if they serve more than 1 year of service in the same company. The amount of this gratuity is agreed upon by the employer and employee, or equals at least 3 weeks' wage for every year of employment.
Company Pension Plan: It varies from company to company. Some companies may offer corporate pension schemes, such as incentives.
Private Pension Plans: Expats should take advantage of relatively higher salaries in Qatar to set up a private pension plan. If you are eligible for private pension, always keep the below points in mind:
- When to take retirement.
- Lifestyle after retirement.
- City you want to live after retirement.
- Savings amount.
- Retire Early.
If you are an expat and have overseas assets, you must think about local inheritance laws.
Expat Pension Plans
A few countries have an agreement with Qatar that allow for years worked in Qatar to count to their State pension. Inquire with your state plan about the particulars.
Some countries don't allow for years worked in Qatar to count toward your state pension, then there may be an opportunity to buy back time once you have returned to your home country and are once again contributing to the pension plan.
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