June 7, 2023

Dubai Week

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390 new employers registered with "Pension and Insurance".

390 new employers registered with “Pension and Insurance”.

Abu Dhabi: Abdul Rahman Saeed

The Public Pensions and Social Security Commission revealed that the number of registered employers increased by 390 new employers in June this year; The number of employers stood at 7,401 as against 7,011 in June 2021.

He explained that the number of subscribers to the Authority has increased by 2,125 new subscribers as compared to the number of subscribers to the Authority up to June last year. At that time, the number of subscribers was 85,857, which has increased to 87,982 subscribers during the same period this year.

He pointed out that from June last year to June this year, the number of retirees rose to 24,834 and 26,481, and 1,647 new retirees. 1,279 beneficiaries. It has increased to 18,523 beneficiaries from 17,244 beneficiaries.

Registration and subscription of the insured person, who are working citizens in any public and private sectors, is the first step to complete the period required to receive insurance benefits, especially retirement pension, which is the ultimate goal. Insurance participation, which is one of the social security instruments, contributes to providing stability to citizens and their families, when service is stopped from work for any reason that gives the right to pension.

He pointed out that every citizen working for an employer should check whether the company has registered him with the authority and if it becomes clear to him that he is not registered to protect his rights and entitlements, he should contact the authority. Family.

It pointed out that subscribing to insurance protects the insured and his family from possible occupational hazards; If he dies or is injured and unable to work even though he is one day jointly insured, he is entitled to a pension and the effect of that pension will be extended to the beneficiaries of his dependents after his death. , care is needed to ensure his registration and participation to protect his future and his family.

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He explained that the conditions for registration and subscription of an insured under the insurance scheme of the Commission are that the insured must be not less than eighteen years of age and not more than sixty years of age and healthy upon appointment as per medical report. A medical authority recognized by the Commission, and participating in it, the insured must be a resident of the United Arab Emirates and at any time acquire the nationality of the State subject to all provisions relating to registration and subscription.

It affirmed its interest in achieving three main goals of providing insurance coverage to citizens working in the public and private sectors till they reach the age of retirement and helping the citizen save his money by subscribing to insurance. Benefits and benefits of this subscription to senior citizens and their families when he reaches a point where he is no longer able to work and provide the necessities of a decent life.

He pointed out that these goals set for him contributed to a large extent in determining the insurance system it adopted. As it is a Takaful system, primarily aimed at improving the quality of life of the subscribers by achieving aspects of mutual support between them, deducting a portion of the salary and storing it in the Commission, it is covered by a mere subscription against nature. and work-related risks, and enjoys all other benefits specified in the Act.