INSEAD Day 4 - 728x90

Sanad posts record revenue

Growth driven by global demand for services.

Bank of Sharjah profit up 39%

Bank's total assets grow 10% to $14.4 billion.

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

GPSSA clarifies conditions of insured individuals

GPSSA retains the right to collect its debts ahead of any other owed amounts. (WAM)
  • Emirati nationals should not be less than 18 years old nor over 60.
  • Entities operating in the field of tourism and hotels, including in the free zones, who employ Emiratis are all subject to the provisions of the law.

ABU DHABI, UAE – The General Pension and Social Security Authority (GPSSA) said that the registration of insured individuals in the private sector with the authority is the first step towards receiving benefits as part of GPSSA’s social insurance system.

This is in addition to benefits provided by the NAFIS program for employees in the private sector.

Mohamed Saqer Al Hammadi, Head of GPSSA’s Pension Operations, explained that registration for citizens working in the private sector is mandatory under the provisions of Federal Law No. 7 of 1999 for Pensions and Social Security and its amendments, which obliges employers to register an insured person immediately upon joining work, when the conditions apply.

On the rights of employees in the private sector who are affiliated with the NAFIS initiative, Al Hammadi explained that Emirati nationals should not be less than 18 years old nor over 60 and must be medically fit at the time of appointment, based on a medical report issued by a certified medical provider approved by the GPSSA.

The insured must be a UAE national, and this includes individuals who obtain the nationality at any time.

He said, “All UAE based employers in the private sector are subject to the provisions of the pension law with exception to Abu Dhabi who are subject to the Abu Dhabi Pension Law, including all their branches in other parts of the UAE.”

Free zones and entities operating in the field of tourism and hotels who employ Emiratis are all subject to the provisions of the law.

These companies need to verify their legal position and register their Emirati employees with the GPSSA.