GPSSA organizes an external awareness workshop for newly insured Emirati members
Abu Dhabi, 19th July 2023: Over 100 newly insured members have been invited to attend an external awareness workshop organized by the General Pension and Social Security Authority (GPSSA), in order to learn more about their pension and social security rights, obligations and benefits, as per the UAE Pension Law and its regulations.
During the event, which took place in the Marriott Hotel Al Jaddaf in Dubai, Dr. Maysa Rashed Ghadeer, Government Communications Director, explained that the workshop was organized as part of GPSSA’s Government Communications Office’s aim to raise awareness amongst newly recruited insured members regarding proactive early planning in order to ensure insured employees make right decisions during their career paths, whether that means moving to a different employer, resigning or even retiring; offering full clarity regarding their rights and insurance benefits as stipulated by the law.
“In pursuit of our mission to raise further awareness regarding the pension law and enhance financial planning trends amongst all our Emirati members at an early stage, GPSSA’s Government Communications Office in coordination with the Pension Sector got in touch with newly recruited Emirati employees in order to invite them to participate in our awareness workshop, with a specialized financial consultancy company present in the meeting,” added Dr. Maysa.
Some of the topics highlighted during the event included rules and regulations concerning insurance participation such as monthly contribution percentages due from both insured members and their employers with emphasis on explaining that an insured’s contribution rate does not exceed five percent regardless of which sector they are employed in (government or private), noting that an employer is not permitted to charge his/her employee more than that percentage.
Attendees were given in-depth information about how to take advantage of the “Shourak” program and its “hassle-free” conditions while deciding to merge employment/service years in order to receive a more sustainable pension plan and end-of-service gratuity upon retirement, without having to incur any extra fees in the process.
Additionally, the method of calculating the retirement pension and end-of-service gratuity was emphasized, alongside details on the contribution account salary across both government and private sectors in which contributions are calculated and insurance dues are paid based on the insured’s service years.
Also stressed upon were the entitlement rights around retiring due to being unfit to work, or receiving a compensation because of a work-related disability or decease.
Various participants, particularly from private sector entities, were curious to learn more about the UAE Pension Law, while others praised GPSSA’s initiative to help improve their understanding further and raise important information that will support their decision to become more proactive when planning for their social security, pension and retirement.
