Mubarak Rashed Al Mansoori, Chairman of the Board of Directors for the General Pension and Social Security Authority (GPSSA), chaired today the 3rd board meeting for the year 2024.

The meeting started with the Chairman of the Board discussing the agenda and approving the minutes of the previous meeting based on former decisions and recommendations taken by the committee.

Developments of the digital transformation project, the investment performance report, the financial report for March 2024 and GPSSA’s corporate performance report for the year 2023, were amongst the topics highlighted and discussed during the meeting.

The board then proceeded to approve the draft executive regulations of Federal Law No. (57) of 2023 regarding pension and social security, while discussing other topics on the agenda and the appropriate decisions to take in that regard.

Data as of March 2024 indicates that the number of contributors registered with the GPSSA has increased to 134,902 compared to 99,263 for the same period last year. The number of registered entities/employers increased from 11,926 last year to 15,615 as of March 2024.

Additionally, the number of pensioners reached 20,350 compared to 19,366 in March 2023, and the number of beneficiaries reached 8,338 in comparison to 8,439 for the same period last year.

The value of insurance expenses in March of this year amounted to AED 446,320,042 compared to AED 415,371,125 for the same month last year.