ABU DHABI, 10th April, 2023 (WAM) — The Majid Bin Theneya Ramadan Majlis, hosted by Maryam Majid bin Theneya, member of the Federal National Council, in collaboration with the General Pension and Social Security Authority (GPSSA) discussed a number of issues related to insurance, retirement, and social security. They highlighted the numerous insurance benefits available to participants as per the UAE pension law, which guarantees the stability and security of Emirati families and society, with zero risks involved.
Acknowledging the UAE pension law and its amendments is a pivotal step towards securing a decent futuristic lifestyle for GPSSA’s members, given that enough adherence and attention is made towards comprehending the limitless awareness campaigns conducted by the GPSSA on constant basis.
The Majlis, which was hosted by Maryam Majid bin Theneya, member of the Federal National Council, was attended by Dr. Tariq Humaid Al Tayer, Chairman of the Financial, Economic, and Industrial Committee, and other members of the committee namely: Meera Sultan Al Suwaidi, Saeed Rashid Al Abdi, Marwan Obaid Al Muhairi, Ahmed Hamad Bushhab, Khalid Omar Al Khazraji, in addition to Naema Abdulrahman Al Mansouri, and Sara Mohammad Amin Falaknaz, members of the Federal National Council.
Also present at the Majid Bin Theneya Ramadan Majlis were Faras Al Ramahi, GPSSA’s Director General; Mohammed Al Khayat, Executive Director, Digital IT Sector; Hind Al Suwaidi, Insurance Benefits Management Department Head and Acting Executive Director of the Pension sector; Mohamed Saqer Al Hammadi, Pension Operations Department Head and Dr. Maysa Rashed Ghadeer, Government Communications Office Head, alongside a number of GPSSA employees.
Maryam Majid bin Theneya welcomed the attendees at the beginning of the Majlis and said, "During my presence at the Federal National Council and during the council’s membership electoral campaigns, retirement was the most prominent topic in all the electoral programmes amongst the candidates, so it was necessary to discuss this issue that concerns every Emirati individual and home, especially since the issues surrounding retirement and pensioners is currently the most spoken about and prevalent topics on social media platforms and the news.”
During the session, attendees emphasised the fact that insured individuals are considered partners in preserving sustainability for GPSSA’s resources. The majlis also raised the importance of maintaining an effective communication channel between the Human Resources Department and insured employees across various entities in order to elevate knowledge and understanding of the pension and social security law. The GPSSA delivers diverse and numerous awareness workshops and campaigns about the law throughout the year, with friendly-user electronic and proactive services available on the website, and more to come after the launch of GPSSA’s digital transformation platform. This will provide endless self-service benefits for insured individuals and entities, some of which includes following up on contribution payments, accessing purchase services, obtaining a better understanding of pension eligibility and the ability to calculate pension and bonus, amongst other insurance services.
Also highlighted by the majlis was the need to keep pace with the pension and social security law and the UAE’s Emiratisation efforts in providing Emiratis with diverse job opportunities by encouraging their employment in the private sector through the support of the Nafis programme, in which the government pays monthly salary contributions on behalf of the employer.
Participants at the Majid Bin Thaniya Ramadan Majlis also suggested the need for insured individuals to plan for their post-retirement stage both financially and socially. The Majlis pointed out that an insured should not reach the retirement stage without having a plan in place that qualifies him/her to retire in a safe and secure manner. That plan should enable the individual and his/her family to receive a suitable income that enables them to live decently, especially given today’s high cost of living.
Members of the Majlis compared the federal and local pension laws in the UAE with other laws governing the GCC region, in addition to various pension schemes across the world. They also discussed the advantages of the different laws as well as the insurance benefits they provide in exchange for the generous reimbursements provided by the UAE’s Federal Pension Law for insured individuals, especially for women and beneficiaries.