UAE disburses $2.17bn in insurance expenditure among beneficiaries

Share
2 min read
Female pensioners were higher in number than the males.
Share
  • The number of pensioners in Sharjah amounts to 6,692 (26 percent), while the number of pensioners in Dubai is 5,892 (23 percent).
  • At 16,597 (65 percent) female pensioners outnumbered male pensioners who totaled 8,786 (35 percent).

UAE’s estimated insurance expenditure reached more than AED8 billion ($2.17 billion) in 2021 an increase of AED499.4 million in comparison to 2020, according to General Pension and Social Security Authority (GPSSA).

The total insurance expenditures disbursed to pensioners, beneficiaries (dependents of pensioners) and insured (contributors) affiliated with GPSSA in 2021 amounted to AED3.9 billion, with an increase of AED309.6 million from 2020.

Statistics show that in 2021 the total value of insurance expenditures for pensioners and eligible civil and military dependents, whose files are managed by GPSSA on behalf of the Ministry of Finance, increased by AED189.8 million, reaching over AED4 billion in comparison with 2020.

The GPSSA data shows that the number of individuals benefiting from the expenditures disbursed in 2021 included 25,383 pensioners; 18,102 beneficiaries; 3,816 insured individuals, indicating an increase of 3,110 individuals from 2020.

According to the figures, 17,242 pensioners were covered by GPSSA in 2021, representing 68 percent of the total number of pensioners, while the number of pensioners benefiting from the Ministry of Finance, through GPSSA, reached 6,750 military pensioners at a rate of 27 percent and 1,391 civil pensioners at a rate of five percent.

According to geographical data, the number of pensioners in Sharjah amounts to 6,692 (26 percent), while the number of pensioners in Dubai is 5,892 (23 percent), 4,251 pensioners in Abu Dhabi (17 percent) and 4,185 pensioners in Ras Al Khaimah (16 percent).

Fujairah consists of 1,954 pensioners (8 percent), 1,460 are in Ajman (6 percent) and pensioners in Umm Al Quwain amount to 4 percent with 949 pensioners.

According to data related to gender, 16,597 (65 percent) female pensioners showed a higher percentage than male pensioners who totaled 8,786 at 35 percent. The average age of female pensioners is 65 years, while that of male pensioners is 59.

The social status data of pensioners indicate that the number of married pensioners is 22,418 (88 percent of the total) while there are 1,818 single individuals at seven percent; 721 divorced at three percent; 369 widowed females at two percent; 42 widowed males at 0.17 percent and 15 separated at 0.06 percent.

According to geographical data, the distribution of eligible beneficiaries from across the Emirates includes 4,065 in Sharjah (22 percent of the total); 3,362 in Ras Al Khaimah (19 percent of the total); 3,113 in Dubai at 17 percent; 3,191 in Abu Dhabi at 18 percent; 1,982 in Fujairah at 11 percent and 1,125 in Ajman at six percent; 632 in Umm Al Quwain at a rate of three percent, in addition to 632 unidentified individuals.

Speaking about the expenditure growth, Mohamed Saif Al Hameli, GPSSA’s Director-General, said, “We constantly work towards increasing the value of financial resources at the GPSSA to meet short-term annual obligations. Each year, all the indicators showcase a steady increase in the volume of financial assets at GPSSA, which supports long-term obligations for stakeholders who highly benefit from the services.”

SPEEDREAD


Today's Headlines

The most important news stories of the day, curated by Post editors and delivered every morning.

Please enable JavaScript in your browser to complete this form.

By signing up you agree to our Terms of Use and Privacy Policy.

MORE FROM THE POST