Private sector entities, GPSSA are partners in insurance work system success

ABU DHABI, The General Pension and Social Security Authority (GPSSA) said that private sector employers play a pivotal role in the success of the insurance work system at the authority’s level.

The GPSSA’s statistics for October 2022 reveal that the number of contributors working in the private sector registered with it increased to 21,868 across 7,874 private sector entities. This does not include the 93 federal entities and 266 government entities registered.

The GPSSA stressed that all private sector employers across the UAE are mandated to register except for companies headquartered in Abu Dhabi. The moment an Emirati joins an entity, that same entity must ensure they register them with the GPSSA and that they contribute every month on an employee’s behalf per Federal Law No. 7 of 1999 for Pension and Social Security and its amendments.

Entities must register Emirati employees within 30 days of their joining, and pay contributions before the middle of the month following the month the employee has joined the company to avoid paying a fine arising due to a delay in contribution payments applied without notice or warning.

The GPSSA calls on all employers to ensure their human resources employees are literate regarding the pension law to avoid paying additional sums that may occur due to a lack of awareness regarding the UAE’s pension law.

Additionally, the UAE Pension Authority welcomes employers who come forward and request an awareness workshop to better understand the pension law and the useful services offered to stakeholders and members through the GPSSA’s website.

Data released for October 2022 indicates that the number of insured individuals registered in the federal sector has reached 34,740, while the number of insured contributors in the government sector is 29,828. In addition, there are 21,868 contributors in the private sector, of which 6,671 are males and 15,197 are females.

The GPSSA’s data also reveals that the services provided during October 2022 reached 4,119 electronic services, while 1,282 customer visits to GPSSA’s service centres were recorded in addition to 9,303 calls received via the GPSSA’s call centre. During the same month, the authority disbursed 783 end-of-service benefits and compensation and completed 113 requests to merge employment services and 31 requests to purchase a nominal service period.

Source: Emirates News Agency

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