UAE Archives - Pension Policy International

06AugAugust 6, 2024

GPSSA launches campaign to boost proactive financial planning

The General Pension and Social Security Authority (GPSSA) has launched a new media campaign under the slogan "Plan – Save – Invest" as part of its "Proactive Financial Planning" project. The campaign aims to promote awareness of proactive financial planning as part of the UAE government's transformative "We the UAE 2031" initiative, which seeks to position the UAE as one of the world's most prosperous countries within the next decade. Throughout the campaign, the GPSSA aims to boost financial literacy by...

August 6, 2024

News2024, UAE

07JunJune 7, 2024

Navigating the UAE’s updated pension regulations

The United Arab Emirates (UAE) has recently undergone a comprehensive reform of its legislative framework. It aims to address shifts in the work environment and align UAE relations with international best practices. The most recent and radical change to the pensions landscape is the implementation of a new pensions law, UAE Federal Decree Law No. 57 of 2023 (the 2023 Law). Discrepancy on effective date The 2023 Law was officially published on October 2, 2023. This legislation represents the most substantial...

June 7, 2024

NewsLabor Market, Regulation, UAE

07NovNovember 7, 2023

UAE. GPSSA: Merging employment services improves retirement options

Merging previous service periods is a pivotal step to pursue in order to enhance an insured individual’s chances in obtaining a better retirement pension scheme, since it results in a continuation and extension of employment years up until the insured completes the remaining years eligible for a pension, stressed the General Pension and Social Security Authority (GPSSA). As part of the “End it Right” campaign’s quest to ensure insured individuals receive the highest retirement pension possible, while securing their post-retirement...

November 7, 2023

NewsOperations, UAE

01NovNovember 1, 2023

UAE’s new end-of-service savings scheme for private and free zone workers begins

The UAE government's new savings retirement plan for employees in the private and free zone sectors to invest their end-of-service benefits and build long-term wealth takes effect from today and does not have a minimum salary requirement, the Ministry of Human Resources and Emiratisation said on Wednesday. The Voluntary Alternative End-of-Service Benefits Savings Scheme, which was announced by the UAE government in September, is not mandatory but will require employers to register with the ministry if they choose to take part in the plan. For full-time employees...

November 1, 2023

NewsPension design, UAE

15JunJune 15, 2023

The GPSSA announces the launch of its new pension platform “MA’ASHI” to UAE-based entities

As part of its digital transformation implementation plan, the General Pension and Social Security Authority (GPSSA) will soon launch a new pension platform known as “MA’ASHI” for thousands of UAE-based federal, government and private sector entities to access. Ahead of the platforms launch, the UAE Pension Authority has dedicated both English and Arabic virtual training workshops, from the 20th to 22nd June 2023, for employers/entities across the UAE in order to learn more about GPSSA’s new platform “MA’ASHI” – which...

June 15, 2023

NewsOperations, Technology, UAE

11MayMay 11, 2023

UAE. ‘Shourak’, the new scheme by the GPSSA to provide more sustainable returns and secure retirement

WAM: The General Pension and Social Security Authority (GPSSA) has said that insured members under the GPSSA's umbrella who opt to join “Shourak” must do so within six months of their end-of-service date and merge their end-of-service benefits within one month when joining a new entity. “Shourak”, which means “preference” in English, aims to provide Emiratis with a more sustainable insurance return for themselves and their families and a secure pension scheme. The programme's procedures do not apply to employment years...

May 11, 2023

NewsPension design, UAE

27DecDecember 27, 2022

UAE’s Pension Authority raises awareness on incorrect contribution practices

Private sector entities that do not pay monthly contributions or provide incorrect data for their Emirati employees risk incurring additional penalties and, under certain conditions, imprisonment,' as per the federal pension and social security law. At the end of its campaign to educate insured Emiratis and the entities in which they are employed about an insured’s rights and duties in accordance to the NAFIS programme, the General Pension and Social Security Authority (GPSSA) stated that charging an insured person with...

December 27, 2022

NewsRegulation, savings, System Characterization, UAE

24JunJune 24, 2022

UAE entities should register GCC employees in pension, insurance system: GPSSA

The General Pension and Social Security Authority (GPSSA) called on the UAE-based entities to register their employees from the Gulf Cooperation Council (GCC) countries in the unified system for extending insurance protection. The authority explained that it includes those employed in the government and private sectors, free zones, and the hotel and tourism sector. Registering the GCC employees in the UAE is mandatory according to Law No.18, the UAE Cabinet issued on 22nd July, 2007, to regulate the provisions of insurance...

June 24, 2022

News2022, Enrolment, savings, UAE

15JanJanuary 15, 2020

United Arab Emirates: The Introduction Of The DIFC Employee Workplace Savings Plan And Other Qualifying Schemes

the DIFC Authority is replacing the existing arrangement of statutory end of service gratuity, payable on termination of employment, with a defined contribution savings scheme, in which contributions are made monthly into a scheme (the Qualifying Scheme). The Qualifying Scheme which is being supported by the DIFC Authority is the DIFC Employee Workplace Savings plan (DEWS). However, employers may choose to use a Qualifying Alternative Scheme (QAS). The laws implementing the new arrangements, through amendments to DIFC Law No....

January 15, 2020

News, Slider2020, Asia, Occupational Pensions, UAE

06SepSeptember 6, 2018

What are the retirement ages around the world?

Retirement ages, or the age when some sort of government pension can be received, varies around the world. The OECD average for a normal pension age is currently 64.3 years for men and 63.7 years for women. While life expectancy has risen in many countries and governments grapple with ageing populations, any attempts to make people wait longer to collect benefits are usually met with fierce opposition, as Russia and Australia found out recently. Read more sbs

September 6, 2018

News, Slider2018, Australia, China, Iceland, India, Libya, Norway, Russia, Turkey, UAE, UK, US

August 2024

GPSSA launches campaign to boost proactive financial planning

June 2024

Navigating the UAE’s updated pension regulations

November 2023

UAE. GPSSA: Merging employment services improves retirement options

UAE’s new end-of-service savings scheme for private and free zone workers begins

June 2023

The GPSSA announces the launch of its new pension platform “MA’ASHI” to UAE-based entities

May 2023

UAE. ‘Shourak’, the new scheme by the GPSSA to provide more sustainable returns and secure retirement

December 2022

UAE’s Pension Authority raises awareness on incorrect contribution practices

June 2022

UAE entities should register GCC employees in pension, insurance system: GPSSA

January 2020

United Arab Emirates: The Introduction Of The DIFC Employee Workplace Savings Plan And Other Qualifying Schemes

September 2018

What are the retirement ages around the world?