Picture for illustrative purposes only. ARCHIVE

UAE workers can get 100% salary as pension

The UAE's General Pension and Social Security Authority (GPSSA) has announced that insured employees can earn up to 100% of their contribution account pay as a maximum pension. According to Mohamed Saqer Al Hammadi, head of the GPSSA's Pension Operations Department, this is one of the most important privileges guaranteed by Federal Law No. 7 of 1999 for Pension and Social Security. Under the tagline "Explore Your Advantages," the GPSSA has begun a media campaign to raise awareness among insured individuals about the benefits of the law and the rights it provides. Its goal is to make insurers aware of the potential benefits in order to urge them to make the best use of the law. Al Hammadi emphasized that the law provides a maximum pension of 100% of the contribution account wage to an insured individual with 35 years of employment. According to the GPSSA's pension operations head, this benefit is incorporated in two extra categories of pension entitlement under the statute. "In the event that the service of the insured ends with sudden death or total disability as a result of a work-related-injury, the pension is granted at 100 per cent of the pension calculation salary, assuming that the insured has spent 35 years in service. Pension in this case is granted, regardless of the age and duration of contribution with the GPSSA, even if it were for only one month, which is not mentioned in the law." In addition to providing the maximum pension and the option of extending it to 70 years or more, the law provides beneficiaries with a share of the insured's pension in the event of his/her sudden death or work-related injury, with a Dh75,000 compensation. This is distributed among the heirs in accordance with the provisions of the Islamic Shariah unless the female heir is no longer entitled to the pension due to her age. BKM/ Expat Media
For all the latest news from the UAE and the world, follow us on Facebook, Twitter and Instagram and subscribe to our YouTube page