Dh180m paid as pension monthly

General Authority for Pensions and Social Security has no plans to change retirement age.

Mudhaffar Al Haji, Director-General of the General Authority for Pensions and Social Security, said: "Employees will continue to retire at age of 60 or when they complete 20 years in the job. They can avail a pension of 70 per cent of their salary and each year two per cent will be added to the pension."

He told Al Khaleej newspaper that the pension paid monthly totalled Dh180 million for 25,000 retired people and 25,000 deservers. He added there were 75,000 subscribers in the body and the monthly subscription was about Dh235m.

The payment is made possible by a deduction of five per cent of the salary of employees and 15 per cent deduction of the value of salary from the employer, Al Haji said.

Abdul Rahman Al Baker, Deputy Director-General for Insurance to the government sector said the authority honoured 50 retirees who spent more than 35 years in their job, and 50 staff members who spent more than 35 years and are still working.
 

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