GPSSA reviews strong growth in insured members

The General Pension and Social Security Authority (GPSSA) held its sixth Board of Directors meeting on Tuesday chaired by Mubarak Rashed Al Mansoori, Chairman of the Authority's Board of Directors.

During the meeting, the council members proceeded to discuss the agenda, approving the minutes of the previous meeting and the management follow-up agenda regarding suggestions and recommendations.

The committee approved and concluded decisions related to the Supreme Committee for Human Resources and Rewards, the Investment Committee and the Internal Audit and Risks Committee and approved the financial statements for the first and second quarters of 2023.

The board members reviewed the investment performance reports until 2023, GPSSA's corporate performance executive summary for the first half of 2023 and other topics on the agenda and appropriate decisions concerning each.

According to the latest statistics, there are 111,735 insured members as of August 2023 registered with the GPSSA, compared to 89,329 for the same month last year. In contrast, the number of employers/entities has increased to 11,865 compared to 7,612 in August 2022.

There are 19,685 pensioners registered as of August 2023 compared to 18,752 last year, whereas the number of beneficiaries reached 8,458 compared to 8,499 for the same month last year.

The value of insurance expenses as of August 2023 amounted to AED415,268,101 compared to AED455,467,005 for the same month last year.

News Source: Emirates News Agency