An increase of 27% customer registrations have been recorded by the General Pension and Social Security Authority (GPSSA) in 2024 compared to 2023, indicating a sustainable and evident rise in insurance and social security registrations amongst insured Emirati individuals, pensioners and beneficiaries.

A total of 153,934 customers have been recorded in 2024 out of which 125,420 are insured members, 20,232 are pensioners and 8,282 are beneficiaries, an increase of 32,504 or 27% in customers in comparison to 2023 where a total of 121,430 customers were recorded.

Due to the increase in number, GPSSA's insurance expenses by the end of 2024 is expected to increase from the current amount recorded in 2023, which amounted to Dh4,960,997,983 out of which pension disbursed totaled Dh4,311,204,551; Dh647,430,932 was spent on end-of-service gratuity and Dh2,362,500 on compensations.  In 2022, total insurance expenses were recorded to be Dh4,692,556,999, an increase of Dh268,440,984 in comparison.

Receiving a rewarding retirement pension has now become the ultimate goal of every employed Emirati, who now fully comprehend the value behind earning a sustainable and fixed income for not only themselves, but for their entire family; a realization that happens to correlate with the nations quest to encourage Emiratis to work for the longest period of time possible.

Families are now convinced that pension amounts come in handy during emergency situations, old age, disabilities, occupational diseases or after a decease, since the deceased's heirs, known as beneficiaries, become entitled to receive the amount. For that purpose, more and more Emiratis are taking advantages of the services and benefits available in the UAE Federal Pension Law, one of which includes the Shourak program, which as per Federal Law No. (57) of 2023, enables an insured to purchase service years at no cost whatsoever. 

It is important to remember that the longer the insured works for, the more the benefits, i.e. insured individuals who have worked for 35 years for instance, get to enjoy 100% of the pension amount in accordance to the average contribution account salary. In cases where an insured does not fulfil the insurance criteria's and does not qualify to receive a pension, an end-of-service gratuity serves as a compensation. 

As per Cabinet Resolution No. 18 of 2007, the GPSSA also extends its services to include GCC citizens employed in the UAE under a protection system called the unified extension protection system, whereby GCC citizens are granted a secure retirement pension or end-of-service gratuity, as per the applicable pension law in their own home country. 

Again, and as part of GPSSA's mission to expand its social security umbrella to include more segments in society, while securing their future through offering sustainable financial resources, resolution No.19 of 2013 was introduced for business owners and self-employed citizens, with emphasis on individuals who own an establishment or who are self-employed in the field of trade, industry or agriculture. 

The new Federal Decree Law No. 57 of 2023 on Pension and Social Security was also introduced to offer flexible pension and social security services by mitigating the gaps in services and policies provided to Emiratis working in the government and the private sectors, while extending the insurance protection scheme to Emiratis employed in regional, international or foreign political missions, whether based inside the UAE or abroad, a feature which was not available in Federal Law No. (7) of 1999. 

General Pension & Social Security Authority