ABU DHABI: The General Pension and Social Security Authority (GPSSA) emphasised today the integral role of pension and social security systems in the UAE, underscoring their contribution to sustainable societies and economies by providing fixed monthly incomes and enhancing financial returns for insured Emiratis and their families.
Among the crucial pillars of social security is GPSSA’s constitution, particularly Article (16), which outlines support for Emiratis through a regulated social insurance scheme catering to various vulnerable groups, including children, mothers, minors, and individuals unable to care for themselves due to illness, disability, old age, or compulsory unemployment.
To fulfil the requirements in Article 16, an insured’s contribution ‘must not be’ less than one year to be granted two types of social assistance, one of which is the insurance system – an acquired scheme for insured individuals and their eligible family members that provides a source of funding through monthly contributio
ns deducted from the insured employee’s salary. The insured must contribute to the system to receive the desired retirement pension or end-of-service gratuity.
The second type of support includes financial aid offered to low-income employees who have met the insurance and social security criteria as registered employees with the GPSSA. This type of community assistance aims to achieve social welfare and is implemented by various UAE-based ministries, such as the Ministry of Community Development.
The UAE’s 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 diseases resulting in the inability to work, with the GPSSA mandated to provide fixed monthly pensions to insured individuals and their families.
The GPSSA stressed the collective responsibility of employers, employees, and the Emirati community to maintain financial and social stability for current and future generations.
Source: Emirates
News Agency
