Obtaining a 100% pension is the most important privilege in the “Pensions Law”
The Federal Pensions Law grants the insured who has spent 35 years of service the maximum pension at a rate of 100%.
The General Pension and Social Security Authority confirmed that one of the most important privileges provided by the Federal Pensions Law No. 7 of 1999 for Pensions and Social Security is the possibility for the insured to receive the maximum pension at a rate of 100% of the contribution account salary.
Director of the Pension Operations Department at the Authority, Muhammad Saqr Al Hammadi, said: “Awareness of the benefits of the law and the privileges it provides to the insured comes in the context of the media campaign launched by the Authority at the beginning of the second half of this year 2022 under the slogan (Explore Your Advantages), which aims to enhance the awareness of the insured. the advantages available in the law in order to encourage them to make the best use of the law and its advantages.”
Al Hammadi explained that the Federal Pensions Law grants the insured who has spent 35 years in the service the maximum pension and 100% of the contribution account salary, and in addition to the pension, the insured is given an additional bonus of three pension account salaries for each year spent at work after 35 years.
For example, he said, if the period of service of the insured in one of the employers amounted to 38 years, and the salary for calculating the pension of the insured for this period was 30 thousand dirhams, then in addition to the pension determined for him, he will receive an additional bonus for the three years in excess of 35 years at the rate of salaries Three pensions for each year, i.e. 90,000 dirhams for each year, so that the total amount of this benefit for the three years is 270,000 dirhams.
Follow our latest local and sports news and the latest political and economic developments via Google news