He General Pension and Social Security Authority (GPSSA) today emphasized the integral role of pension and social security systems in the UAE, underlining their contribution to sustainable societies and economies by providing fixed monthly income and improving financial returns for insured Emiratis and their families.
Among the crucial pillars of social security is GPSSAThe constitution, in particular article (16), which outlines support for Emiratis through a regulated social insurance scheme that caters for various vulnerable groups, including children, mothers, minors and individuals who are unable to care for themselves due to to illnesses, disabilities, old age. or mandatory unemployment.
To meet the requirements of Article 16, an insured person’s contribution “must not be” less than one year to be granted two types of social assistance, one of which is the insurance system: a purchased plan for insured persons and their eligible family members that provides a source of financing through monthly contributions deducted from the insured employee’s salary. The insured must contribute to the system to receive the desired retirement pension or termination of service bonus.
The second type of support includes financial assistance offered to low-income employees who have met the insurance and social security criteria as registered employees in the GPSSA. This type of community assistance aims to achieve social well-being and is implemented by various UAE-based ministries such as the Ministry of Community Development.
The UAE pension and social security system ensures long-term security by covering risks related to health, old age, disability or death, as well as occupational injuries or illnesses resulting in inability to work, with the GPSSA It is mandated to provide fixed monthly pensions to policyholders and their families.
He GPSSA He highlighted the collective responsibility of employers, employees and the Emirati community to maintain financial and social stability for current and future generations.
News source: Emirates News Agency