ABU DHABI: Mubarak Rashed Al Mansoori, Chairman of the Board of Directors for the General Pension and Social Security Authority (GPSSA) chaired the 6th Council meeting for the year on Tuesday.

Al Mansoori welcomed attendees including the Council members, followed by a discussion on the agenda, and approving the minutes of the previous meeting. The meeting reviewed GPSSA’s management developments as a follow-up to previous meeting decisions and recommendations of the investment, audit and risk, and human resources and remuneration committees.

The Council approved the financial statements for the 1st and 2nd quarters of 2024, while reviewing the financial report for August 2024, discussing developments in the digital transformation project and the investment performance report for the first half of 2024.

They also approved a draft amendment to the Authority’s organisational structure in preparation for submitting it to the Council of Ministers for approval.

The developments in updating and developing GPSSA’
s strategy for 2024-2026 were highlighted, alongside taking appropriate decisions on other topics on the agenda.

GPSSA’s statistics for August 2024 indicate that the number of contributors has reached 142,510 compared to 111,735 from August last year, an increase of 30,775, while the number of employers registered with the Authority reached 18,446 compared to 11,865 in August of last year, registering an increase of 6,581 employers.

As of August 2024, there are 20,721 pensioners, compared to 19,685 in August of 2023, whereas the number of beneficiaries reached 8,268 compared to 8,458 for the same month last year.

The insurance expenses in August 2024 have reached circa AED458.28 million compared to around AED415.27 million for the same month last year.

Source: Emirates News Agency