ABU DHABI, UAE – Insurance shares distributed among beneficiaries is one of the most essential privileges in the Federal Law No. 7 of 1999 for pension and social security, said the General Pension and Social Security Authority (GPSSA) on Thursday.
The authority stressed that shares are distributed to the daughter, sister or mother if they are widowed or divorced and to the son or brother if they are disabled.
Pension shares are distributed to the heirs once the pensioner dies, given that those heirs do not earn a salary or receive their own pension.
Shares are distributed without prejudice to each eligible beneficiary.
As the ‘Discover Your Advantages’ awareness campaign comes to an end, the GPSSA highlighted the fact that the distribution of shares to beneficiaries is detailed in Article 31 of the law, which clarifies the entitlement and exclusion conditions among heirs upon the death of a pensioner, regardless of whether the pensioner was a father or a mother.
If any of the entitlement cases are renewed after a period of time, a share will be created from the authority’s treasury without affecting the shares of other beneficiaries to whom the pension was previously distributed upon the pensioner’s death.
For example, if the pensioner’s daughter was married at the time of her father’s passing, she is not entitled to receive a share in his pension.
However, if she is divorced or widowed after his death, the law allows her to receive a share from GPSSA’s treasury without affecting the shares of the other beneficiaries.
According to the law, payment of shares to the heirs on the pensioners’ death is similar to the original shares distributed.
Entitled sisters and brothers receive an equal number of shares per the pension law.