The Shourak is the first transformational project launched by the General Pension and Social Security Authority (GPSSA) to provide valuable information to insured Emiratis on the importance of merging previous and current employment/service periods in case of a career switch in order to increase years of service, without the need to incur any additional cost.
Shourak is organised as part of a performance agreement inaugurated last year for federal and government authorities, which was signed in the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
The result-oriented performance agreements represent qualitative projects that increase the nation's competitive and futuristic short-term sectorial transformation projects, in alignment with the UAE government's new work methodology.
Shourak (otherwise known as ‘preference’ in English), which will take effect 1st July 2023, required GPSSA to update its work mechanisms to allow insured individuals whose employment service ends and who are entitled to receive an end-of-service benefit to agree to not be paid the value of their end-of-service gratuity for previous service years, but rather merge it with their subsequent service without having to incur the additional costs that arise from the calculation formula eligible for Emiratis employed in the government and private sectors.
The project aims to create incentives to increase the number of insured individuals benefiting from the retirement system by providing them with options that help promote a decent futuristic lifestyle and financial sustainability for them, in addition to facilitating the process for Emirati employees moving between different work sectors, in a way that offers flexibility to the business sector, while enhancing the level of competitiveness amongst Emiratis in seeking to obtain the best job opportunities possible.
Achieving these goals is evident in the ‘Shourak’ project in supporting citizens working in the government and private sectors by facilitating the procedures to join the service until the completion of the period of service that qualifies them to obtain their retirement pension, which is the ultimate goal of participating in pension and social insurance – to make sure insured individuals live a happy and good quality of life and are not burdened in any way, especially when going through a career shift.
This transformational project supports the UAE’s vision ‘We the UAE 2031’ in becoming one of the most prosperous and competitive economies over the next ten years, one that supports prosperity and empowers Emiratis with a decent lifestyle and financial stability.
In line with the framework of the most pioneering ground-breaking ‘We the UAE 2031’ vision to create a forward-thinking government centered on achieving results, Shourak contributes in strengthening the government’s ability to adopt new and updated governmental concepts and models, while coming up with flexible and innovative human-enabling policies that contribute to raising the overall level of competitiveness, talent and capabilities.
Additionally, the project encourages the exchange of experiences between different entities, fields and sectors, with emphasis on discussing the transformational process taking place in the business sector, since highlighting this topic facilitates the process of shifting to a new entity or changing career paths altogether, all indicators that elevate the level of competition and flexibility, while bringing about a higher level of productivity without any unnecessary obstacles or challenges in place.
News Source: Emirates News Agency