• Clear demand for retirement and workplace solutions that could significantly improve preparedness and convert saving intent into better outcomes
  • Strong intent to save in the contrasts with limited access to long-term investment solutions, particularly among expatriates who face more complex, cross-border planning challenges

Riyadh — A new BlackRock report finds the Middle East at a defining moment in how individuals prepare for retirement, with strong financial confidence today contrasting with preparedness for the future, and a clear opportunity to strengthen systems that support long-term financial security and economic growth.

As economies across the region undergo profound transformation, the Read on Retirement: GCC 2026 study highlights that strengthening retirement systems can play a dual role: improving individual outcomes while mobilising domestic savings to support deeper capital markets and long-term economic resilience.

Saudi Arabia stands at a critical juncture with a clear opportunity to build more resilient long-term savings systems as the Kingdom undergoes broader economic and societal transformation, creating both a challenge and a significant opportunity.

The report finds that new funded defined contribution plans — such as voluntary workplace savings schemes — present a “dual opportunity”, both improving individual security and mobilising domestic savings into long-term investments to deepen Saudi capital markets and support economic diversification. By creating long-term pools of domestic capital, these frameworks not only boost retirement outcomes but also contribute to Saudi Arabia’s broader Vision 2030 goals of wider investor participation and more robust financial markets.

Kashif Riaz, Head of BlackRock Riyadh Investment Management and Middle East Financial Advisory said: “Developing robust retirement systems is not just a social imperative, it is a capital markets opportunity. By moving towards funded, long-term savings frameworks, Saudi Arabia can mobilise domestic capital at scale thereby channelling household savings into productive investment, deepening local markets, and supporting the Kingdom’s broader economic diversification agenda.

“The positive story here is that Saudi Arabia is moving in the right direction. Retirement reform is part of the broader Vision 2030 agenda and is beginning to reshape how people think about long-term savings.”

Today, a significant share of household savings remains concentrated in property (18%), gold (40%) and cash (49%), limiting both individual outcomes and the ability to channel capital into productive long-term investments. Expanding access to structured, funded retirement solutions could mobilise domestic savings into long-term investment pools; support deeper, more liquid capital markets; and enable residents’ wealth to grow alongside the Saudi Arabian economy.

While Saudi Arabia’s workforce is broadly confident about their finances today, a gap remains in long-term retirement readiness — especially for expatriates — which underscores the need for stronger retirement systems to complement the Kingdom’s public pension framework.

The study highlights that strengthening workplace and individual retirement savings plans can reinforce Saudi Arabia’s national pension system, not replace it. With over a third of Saudi Nationals (36%) expecting to rely on their public pension in retirement, but only 6% across the region able to rely on an employer-provided scheme, complementary funded schemes are needed to broaden coverage.

Driven largely by access to structured pension provision, 59% of Saudi Nationals feel prepared for retirement, compared to just 41% of expatriates, who often rely on less structured workplace arrangements or personal savings. Rather than replacing public pensions, enhanced retirement systems form a critical second pillar — strengthening financial resilience across both Nationals and expatriates, while supporting Saudi Arabia’s broader economic transformation goals.

Key findings:

There are strong savings instincts across Saudi Arabia, which could be better channelled into retirement-appropriate vehicles.

  • 75% have started saving or planning for retirement but only:
    • 57% regularly save or invest
    • 24% contribute to pensions or long-term savings plans

Saudi nationals feel the benefit from public pensions, while expats can face structural gaps and uncertainty.

  • 59% of KSA nationals feel prepared
  • Just 41% of KSA expats feel prepared

Immediate cost pressures and public pensions reduce urgency to actively save

  • 42% worry about insufficient emergency savings
  • Retirement is not a top financial priority for nationals:
    • Only 19% of nationals rank retirement saving in their top 3 priorities
    • However, it’s the first for expats (30%).

Workers in Saudi Arabia are willing to save for retirement, but need access, clarity and guidance.

  • 21% of nationals confident in understanding options
  • Key barriers:
    • 36% don’t know where to get unbiased information
    • 32% don’t know how much to save
    • 26% don’t know available options
  • Demand for support is strong:
    • 92% would save more with better incentives

There’s a heavy reliance on personal savings to fund retirement

  • 50% expect to rely on personal savings/investments
  • Only 6% expect to rely on employer schemes
  • 36% of nationals plan to rely on public pensions
  • Asset mix highlights lack of long-term structure:
    • 49% hold cash, 40% gold, 18% property

Strong appetite for reform and workplace pension solutions

  • 95% of KSA nationals find defined-contribution (DC) workplace schemes appealing
  • 91% of KSA nationals would consider participating
  • Impact of workplace schemes on retirement preparedness:
    • Nationals: 78% feel prepared when they have a scheme vs. 58% without (+20pp)
    • Expats: 82% prepared vs. 39% without (+43pp)

Notes: We surveyed 1,000 working individuals in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE), representative of the region’s two largest economies and populations. Together, these markets provide a strong lens through which to understand retirement attitudes across the GCC more broadly.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate

Media Contacts:
Bart Nash
Bart.Nash@BlackRock.com

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