Though the actual number of retirees in the country remains undisclosed, Qatar has taken significant strides in recent years to improve their quality of life.
Snoonu has announced plans to offer retirees across the country with a range of benefits as a means to pay tribute to senior members of the community, the company confirmed on Thursday.
The benefits include discounts ranging from 10% to 30% on their wide-ranging services, along with unlimited free delivery, assistance in starting their personal projects, and an exclusive 50% off unlimited use of the company’s express courier service.
The fastest-growing Qatari tech company’s initiative is in collaboration with the General Retirement and Social Insurance Authority, and underscores a growing commitment to Qatar’s retired community.
“They [the retirees] have provided long-standing and valuable services to their nation throughout their professional lives. Our vision of offering assistance and exclusive discounts for retirees recognises their pivotal societal role, as a tribute to their contributions over the years,” Founder and CEO of Snoonu, Hamad Al Hajri, said in a statement.
Established in 2019 by Al Hajri, Snoonu provides a range of services including online shopping, food and grocery delivery, along with offering third-party logistics support for local startups and small to medium-sized enterprises.
The company recently announced the closing of its Series B funding round with $12 million, making it the first company in Qatar to achieve such a feat. It closed its Series A back in 2021 at $5 million and acquired Oman-based Akeed last year.
Qatar’s retirement policies
According to the Ministry of Development Planning and Statistics, the age of retirement in Qatar is 60 for men and 55 for women, though the actual number of retirees remains undisclosed.
Recent changes to retirement policies have set the minimum retirement age at 50. In addition, employees must now have completed a service period of at least 25 years, an increase from the earlier mandate of 15 years, to qualify for pension benefits.
Employees in the public sector who have made contributions to the pension scheme for 30 years or more will be eligible for a gratuity from the pension fund upon reaching retirement age.
The extension of this benefit to private sector employees is currently under consideration, awaiting the approval of the Cabinet and the Minister of Labour.
Moreover, the minimum monthly pension for eligible retirees in the public sector has been set at QAR 15,000, with an additional housing allowance of up to QAR 6,000. Pending the Cabinet’s and Minister’s approval, these minimum rates may also be extended to qualifying individuals in the private sector.