GPSSA’s July pension expenditure totals AED 711 million
2 August 2023
• The set payment date for August pensions is 25th August
• There were a total number of 46,835 beneficiaries for the month of July
Abu Dhabi, 2nd August 2023: The General Pension and Social Security Authority (GPSSA) has announced that the date of disbursement of pensions for August 2023 has been set for 25th August for beneficiaries and pensioners. GPSSA noted that the amount of pensions disbursed for the month of July this year rose by AED 53,735,855 to reach AED 711,323,784, an increase of 8.1% compared to the same month last year, which was AED 657,587,929 in total. There were 45,000 retired pensioners and beneficiaries for July this year, increased during the same period this year to reach AED 711,323,784, paid to 46,835 retired pensioners and beneficiaries.
GPSSA emphasized that pensions remain the main objective of social security, as it provides regular income to the insured and their families, compensating insured individuals for any risks arising while on the job or after retirement and securing their future. The Authority also noted that there is a shared responsibility between GPSSA and insured individuals when it comes to achieving the social insurance system's objectives. When the insured maintains a continuous employment period for as long as possible, this helps to improve the pension benefits and increases GPSSA’s resources, which are divested optimally to provide the best insurance benefits for all insured upon retirement.
The Authority affirmed its keenness to support retired pensioners and beneficiaries necessary, especially by providing the best proactive services and adopting new projects that contribute to supporting beneficiaries with more benefit and advantages. An example of such is the "Basmat Wafa" project, which was announced by GPSSA earlier this month for retirees and their families to benefit from the rewards and discounts available through the application. “Basmat Wafa” is a result of partnerships signed between the Authority and various strategic partners in the UAE with the aim of providing support in consumer services and healthcare, especially for retirees who contributed to the economic development of the nation throughout the years of employment.
GPSSA commended the role played by partners who have contributed to supporting the launch of the “Basmat Wafa” app and looks forward to further building partnerships with various companies and institutions during the next phase to provide more privileges to beneficiaries and their families in the future. As GPSSA’s core commitment to its beneficiaries, it has introduced a range of digital platforms to make their services constantly and easily accessible.