The General Pension and Social Security Authority (GPSSA) was established in accordance with the Federal Law no. 6 of the year 1999 to apply pension and retirement benefits to Emiratis employed in the UAE. According to the Insurance Protection Extension System, the law also extends to Emiratis working in any of the Gulf Cooperation Council (GCC) countries.
Scope of Work
GPSSA is mandated to apply pension and retirement benefits for female and male Emiratis aged 18 to 60, based on the provisions of the Federal Law no. 7 of the year 1999 for pension and social security and its amendments.
Board of Directors
The current Chairman at GPSSA is His Excellency Mohamed bin Hadi Al Hussaini, Cabinet Member and Minister of State for Financial Affairs.
Every generation matters for GPSSA, which is why the UAE’s pension authority takes serious strides towards meeting long-term financial obligations of its stakeholders, with a current insurance expenditure worth over Dh8 billion.
Since its inception, GPSSA has been at the forefront of extending the pension law to Emirati contributors (insured individuals), beneficiaries, and pensioners employed in federal and local governments and private sectors in the UAE.
To date, GPSSA’s customers include 86,360 insured Emiratis residing and employed in federal and local governments and private entities in the UAE, 7,113 employers, 25,420 pensioners, and 17,924 beneficiaries.
Additionally, as part of the historical ties and cultural homogeneity with the rest of the Gulf Cooperation Council (GCC) countries, the UAE began implementing the system of extending social insurance protection on 1 January 2007 under Law no. 18, which was issued by the UAE Cabinet on 22 July 2007. This system enables a Gulf national working in any of the GCC countries to enjoy the insurance protection as if he/she were working in their own home country. The system extends to the beneficiaries who are dependent on the insured during his/her life.