The General Pension and Social Security Authority said that the federal pension law grants the insured a maximum pension, 100% of the pension account, when working for 35 years, a feature of the federal pension law rarely available in any other pension funds around the world.
Hanan al-Sahlawi, executive director of the pension sector, explained that the pension increases as the insured's years of service increase, from 60% over 15 years of service to 70% over 20 years of service, and the pension automatically increases by 2% for each additional year spent. The insured at work, so that if he spent 25 years his pension rose to 80% of the pension account to 90% at 30 years in service, then to 100% at 35 years in service.
She said that the insured is granted a bonus of three months from the pension account for each year he spends after 35 years.For example, if the insured spent 38 years in service, and his pension account salary was 60 thousand dirhams, besides his pension is granted 180 thousand dirhams. Each of the three years he spent after 35 years, that is, the total bonus, in addition to the pension for the three years, becomes 540 thousand dirhams.
She explained that the salary of the subscription account in the Commission represents the most important elements of the salary, where the basic salary includes the allowance of children, high cost of living, housing allowance and social allowance.
Insurance Features
Hanan al-Sahlawi, Executive Director of the Pensions Sector, explained that the insurance benefits of the insured rise with increasing years of service, with the possibility of increasing the salary in the future as a result of promotions, and consequently the salary of the insured contribution account, according to which the insurance dues are settled, as the higher the salary ceiling Insurance benefits have improved automatically, providing the insured with a high pension value.
Hanan Al Sahlawi:
"The insured is given three months' salary bonus for every year he spends after 35 years."