Abu Dhabi, 3rd March 2023 - His Excellency Mohamed bin Hadi Al Hussaini, Cabinet Member, Minister of State for Financial Affairs and Board of Directors at the General Pension and Social Security Authority (GPSSA), chaired the 2nd board meeting council for the year 2023, which was held on Thursday 2nd March 2023 at GPSSA’s headquarters in Abu Dhabi. The meeting began with His Excellency welcoming the members of the council.
The board then proceeded to discuss the agenda, as it approved the minutes of its previous meeting and the management’s follow-up schedule for the decisions and recommendations emanating from it. They also approved the decisions and recommendations taken by sub-committees including the Human Resources and Remuneration Committee, the Investment Committee and the Internal Audit and Risk Committee.
The Council was briefed on the developments of the digital transformation program, discussed the financial report for January 2023 and approved work procedures in the pension sector. They then moved on to discuss other topics in the agenda and took the appropriate decisions in that regard.
It is worth noting that GPSSA’s statistics for January 2023 indicates that the number of employers registered with the authority has increased to 10,129 compared to 7,185 employers in January of 2022, while the number of contributors increased to 97,941 contributors, compared to 86,982 for the same period last year.
Statistics indicate that the number of pensioners according to January 2023 statistics, amounted to 18,997 pensioners compared to 16,864 in January of 2022, and the number of beneficiaries reached 8,414 compared to 7,912 beneficiaries for the same period last year.
In terms of insurance expenses, their value amounted to Dh392,920,347 in January 2023 compared to Dh342,360,481 in January 2022.