Pension reforms to be key focus of Regional Pension and Social Insurance Conference hosted by GPSSA

The conference whose theme is 'Planning for Reform, Sustainability and New Challenges' will focus on regional and international pension reforms.

The conference, organised by the GPSSA in association with the Muhanna Foundation and the Government Actuary Department, will cover topics related to retirement schemes, pension funding plans as well as the working of insurance companies.

'This is the 8th edition of the Annual Regional Pension and Social Insurance Conference and we are happy to be hosting this important event in the UAE. Our aim is to give attendees the opportunity to share their experiences, update themselves on recent developments as well as learn from what we have implemented here in the UAE', said H.E. Sultan Al Gaith, General Manager of the GPSSA

The conference will have international specialists in the pensions, social security and actuary fields addressing the conference and sharing their knowledge. 'The presence of experts will ensure that all attendees have access to the benefits of learning from and exposure to leading-edge thinkers from around the world. The hosting of this conference also demonstrates GPSSA's commitment to integrating global best practices in its services in order to help secure sustainable financial stability for Emirati citizens in line with their lifestyles' Al Gaith added.

Elaborating on some of the items on the agenda at the conference, Al Gaith added, 'The fundamentals of retirement schemes and how they are categorized will be measured and support plans for retirement, such as healthcare, will be highlighted. More current issues such as the consequences of early retirement and the negotiation of pension fund rights due to a more mobile work force will also be debated as the end-of-service benefits in this case can have significant effect on the corporation and its employees'.

Al Gaith also said that the role of insurance companies, which are very vital in the reform process, with respect to private pension products and investment assets, would also be discussed at the conference.

Some 113 participants from 43 different institutions will be present from the public and private sector, ministries, insurance companies, representatives of insurance companies and retirement schemes, banks, legal auditors, investment companies, universities and unions to represent the pension fund. These representatives come from Algeria, Libya, Egypt, Sudan, KSA, Jordan, Oman, Bahrain, Kuwait, Qatar, Yemen, Syria, Cyprus, Turkey, Iran, Lebanon, UK and UAE.