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GPSSA’s board of directors approves draft annual budget for 2023

Last Updated 26/08/2024 08:43
GPSSA’s board of directors approves draft annual budget for 2023

Headed by H.E. Mohamed bin Hadi Al Hussaini
GPSSA’s board of directors approves draft annual budget for 2023


Abu Dhabi, 3rd November 2022:  His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs and Chairman of the Board of Directors of the General Pension and Social Security Authority (GPSSA) chaired the 6th board meeting yesterday, Wednesday, 2nd November 2022, where decisions and suggestions were reviewed in the minutes of meeting and follow-up schedule for previous meetings.



The board reviewed and approved the financial statements for the second quarter of 2022, discussed GPSSA’s draft annual budget for 2023 and approved it in preparation for submitting it to the cabinet for approval. It also reviewed the developments of the digital transformation program, discussed other topics on its agenda and took appropriate decisions.



It is worth noting that GPSSA’s statistics for the month of October 2022 indicates an increase in the number of employers registered with the Authority to 8,080 compared to 7,149 employers in October of 2021, and the number of contributors increased to 89,496 compared to 86,799 for the same period last year.


According to October 2022 statistics, the number of pensioners affiliated with the Authority reached 18,888 pensioners compared to 17,236 in October 2021 and the number of beneficiaries reached 8,489 compared to 8,081 for the same period last year. 


Insurance expenditures for insured individuals, pensioners and beneficiaries with the GPSSA amounted to Dh389,318,943 in October 2022 compared to Dh390,580,332 in October 2021.
 

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Frequently Asked Questions
View All FAQs

What periods may the Insured merge?

• Previous service periods with any employer subject to the provisions of the Federal Decree-Law

•Previous service period prior to acquiring the UAE nationality

•Previous service periods in any entity determined by the Cabinet

What are the conditions for an insured’s registration with the GPSSA?

• The individual must be a United Arab Emirates national

• The individual must be between the ages of 18 to 60

• The individual must be medically fit to work upon appointment, as evidenced by an approved medical report

• He/she must work for an employer subject to the provisions of the law applied by the GPSSA

If a pensioner from the GPSSA returns to work, and their pension disbursement was suspended because their salary was greater than the pension amount, and they contribute again under the provisions of the law, how will their service be settled in the future if they leave work?

· If they become entitled to a pension for their subsequent service period, they shall be disbursed the larger of the two pensions, whether it's the one they are entitled to for their previous service period or for their subsequent service period

· If they become entitled to a gratuity for their subsequent service period, the gratuity shall be disbursed to them, and the suspended pension shall be reinstated for disbursement

If an employer paid excess amounts to the GPSSA, is there a specific period within which they have the right to claim them back?

Yes, the employer may reclaim any amounts they paid to the GPSSA that exceed the required contributions, but under condition that they claim them within two years from the date of payment.

Is there a mechanism that the Insured, Pensioner, Beneficiary, or any interested party must follow to claim their rights and have reconsidered before resorting to litigation?

Before a rights holder can go to court, they must first appeal the pension or gratuity decision to the Insurance Appeals Committee formed by the Board of Directors, and this must be done within five years of becoming entitled to the pension or end-of-service payment. This means the committee must be petitioned before taking legal action against the employer, and the appeal has a five-year deadline. 

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