GPSSA and IAD organize forum on Effects of Early Retirement

The forum held under the patronage of H.E. Sultan Bin Saeed Al Mansouri, Minister of Public Sector Development, discussed the reasons that force nationals into early retirement and the financial and social effects of this issue. The rules and regulations which govern early retirement in the context of the Pensions and Social Security Law number 7 for 1999 were also discussed.

In his address at the forum, H.E. Sultan Al Ghaith, General Manager of GPSSA said, "The effects of early retirement of nationals has become a critical issue of late as it has a significant impact on the local community as well as on the working of federal and local governmental institutions."

Noting that developed nations have adopted retirement policies that mirror their economic, social and demographic status, he urged the GPSSA to effectively study the concept of early retirement and measure its impact on the finances of the Authority as well as on individuals.

"The existing pensions law does not reflect the UAE's current social situation or the country's political and economic policies" said Al Ghaith noting that this conclusion had been drawn based on the experience of the Authority as well as several polls that had been conducted over the last 10 years.'

AbdulRahman Al Baqir, Deputy General Manager of GPSSA remarked that the demographic and economic characteristics of the UAE show that the expatriate workforce is dominating the market. He recommended an extension of the term before which retirees could qualify for a pension from 15 to 20 years and said that such a procedure will correct the odd demographic situation and allow better participation of the local community in the development of the country.

The forum held in Dubai, was attended by senior officials and administrators responsible for executing and implementing the early retirement system in different ministries and governmental institutions.