GPSSA reviews strong growth in insured members

The General Pensions and Social Security Authority (GPSSA) held its sixth Board of Directors meeting on Tuesday chaired by Mubarak Rashed Al Mansoori, Chairman of the Board of Directors of the Authority.

During the meeting, the councilors proceeded to discuss the agenda, approving the minutes of the previous meeting and the management follow-up agenda regarding suggestions and recommendations.

The committee approved and concluded decisions related to the Supreme Human Resources and Rewards Committee, the Investment Committee and the Internal Audit and Risk Committee and approved the financial statements for the first and second quarter of 2023.

The directors reviewed the investment performance reports through 2023, GPSSAExecutive summary of corporate performance for the first half of 2023 and other agenda items and appropriate decisions on each of them.

According to the latest statistics, there are 111,735 insured members as of August 2023 registered in the GPSSA, compared to 89,329 in the same month last year. On the contrary, the number of employers/entities has increased to 11,865 compared to 7,612 in August 2022.

There are 19,685 pensioners registered as of August 2023 compared to 18,752 last year, while the number of beneficiaries reached 8,458 compared to 8,499 in the same month last year.

The value of insurance expenses in August 2023 amounted to AED 415,268,101 compared to AED 455,467,005 in the same month last year.

News source: Emirates News Agency