The Abu Dhabi Retirement Fund revealed that the total number of citizens insured with the fund until the end of last year exceeded 90,000 subscribers, 56% of whom were men, compared to 44% of females, pointing out that the total number of retired citizens during the same period exceeded 12,000 retirees, Among them 80% are males, compared to 20% of females.
The Fund confirmed during a press briefing organized last Thursday, at its headquarters in Abu Dhabi, that the total pension benefits that the Fund spent during the past year amounted to 3.8 billion dirhams, including 2.7 billion dirhams pensions, and 1.1 billion dirhams end-of-service benefits, indicating that 65% of the total Insured citizens work in government sector institutions, compared to 25% in the semi-government sector, and 10% work in private sector enterprises.
The Director of Institutional Communication Department, spokesperson for the fund, Fatima Al-Shariqi, said that the fund’s business strategy achieves five basic goals. The first is the Entrepreneur Services Department, from registering and updating data and collecting monthly contributions for the insured, and the second, to protect and manage financial assets through the application of strategies A long-term investment, then examining the financial position of the retirement system in the Emirate of Abu Dhabi, through actuarial studies, and showing its compatibility with financial sustainability in accordance with international standards, and raising it to the government with the necessary recommendations, as well as managing the services of the insured by registering Previous services, transport and loan between employers and update data and exchange end of service benefits and retirement, and finally, the management services of retirees and beneficiaries of the pension data exchange and update the continuity of the pension entitlement, so as to protect the interests of shareholders of the Fund.
Al-Shariqi talked about the latest statistics of institutional performance reports issued at the end of last year, as she confirmed that the total number of insured persons with the Fund until the end of last year amounted to 90,172 participants, including 50 thousand and 126 citizens (or 56% of the total insured), compared to 40 One thousand and 46 female citizens (44%), explaining that the number of insured persons during the last quarter of last year amounted to 1,606 citizens, including 55% of the females, compared to 45% of the males.
Regarding the distribution of the insured according to the labor sector, she mentioned that the total number of citizens insured by government sector institutions amounted to 58 thousand and 805 male and female citizens (65% of the total insured by the Fund), compared to 22 thousand and 807 male and female citizens in the quasi-sector The government (25%), and finally 8,560 male and female citizens, registered by private sector institutions (10% of the total insured), pointing out that the average age of the insured citizens was 35 years, while the average years of service were eight years.
She explained that, according to the distribution of labor entities by sector, the total number of registered business entities with the Fund reached 1397 business entities, 80% of which are affiliated to the private sector, with a total of 1111 institutions and establishments, compared to 183 business entities belonging to the government sector (by 13%), and finally 103 entities Work belonging to the semi-governmental sector, at 7% of the total employers registered with the Fund.
Al-Shariqi added that the total number of retired people reached until the end of last year 12,88 retirees, including 9,618 males (80% of the total retired), compared to 2470 females (20%), while the average age at retirement was 53 years, The average age of living retirees is 62 years.
Regarding the distribution of new retirees by sector and authority, she pointed out that the number of new retirees during the last quarter of last year amounted to 191 retirees, 56% of whom are male, compared to 44% of females, including 146 retirees from the government sector, 33 from the semi-government sector, and 12 From the private sector.
She explained that the total number of beneficiaries at the fund, as of the end of last year, was 9,707 eligible, including 8165 women and children (84% of the total beneficiaries), compared to 1542 males (16%), confirming that the total pension benefits that the fund spent during Last year, it reached 3.8 billion dirhams, including 2.7 billion dirhams in pensions, and 1.1 billion dirhams in end-of-service benefits that the fund disbursed during the same period.
Al-Shariqi added that the last period witnessed the accomplishment of several important changes to develop the pension system, including the salary scale in cooperation with the Human Resources Authority, the ADNOC Agreement to increase pensions, change the conditions and rules for service inclusion to include naturalized persons and workers outside the Emirate of Abu Dhabi, and finally the adoption of a system of exchange of pension benefits.
98% of the agencies ’obligation to pay contributions
“The fund managed to collect 98% of the total contributions on time, and it succeeded in raising the percentage of employers’ commitment to pay contributions on time from 82.7% to 88.5%, and the fund also managed From automating additional amounts messages via the website, to facilitate the business ».
90172
Participating the total number of insured persons with the fund until the end of last year.