Hamdan bin Rashid chairs GPSSA's Board meeting

  • Monday 13, July 2020 03:26 PM
  • Hamdan bin Rashid chairs GPSSA's Board meeting
Sharjah24 – WAM: In its virtual meeting on Monday, the General Pension and Social Security Authority, GPSSA, approved the closing financial statements for 2029 and reviewed the performance report of the investment sector up to June 2020.
Chaired by Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and Chairman of the GPSSA's Board, the virtual meeting discussed items on its agenda and took appropriate actions on them and reviewed measures taken by the GPSSA management to implement decisions and recommendations adopted by the Executive Committee, the Higher Committee for Human Resources and Benefits, the Investment Committee, and the Audit and Risks Committee.

GPSSA's statistics for June 2020 showed that the number of GPSSA’s subscribers reached 84,697 with the federal government accounting for 36,335, local governments 28,014 and private sector 20,348. The statistics said that employers registered with the GPSSA totalled 6,612 entities (federal sector 91, local sector 255 and private sector 6,266).

The number of pensioners rose to 16,538 (9,016 females and 7,522 males) in June 2020 from 16,132 in the corresponding month last year, the figures noted.

The number of beneficiaries increased to 7,415 (1,326 males and 6,089 females) from 6,969 for the same period of last year.

GPSSA also manages the files of 1,539 pensioners and 4,418 beneficiaries from the civil sector and 6,502 pensioners and 4,900 beneficiaries from the military sector whose pensions are paid by the Ministry of Finance.