The UAE has become the first Arab nation and the 23rd globally to have its pension indicators measured in the 2024 Mercer Global Pension Index (MCGPI), according to Mubarak Rashed Al Mansoori, Chairman of the General Pension and Social Security Authority (GPSSA).
This achievement is seen as a significant step towards enhancing the quality of life for Emiratis, who remain a key focus in the government’s development agenda.
The MCGPI, a joint report by Mercer and the CFA Institute, evaluates pension systems globally, suggesting reforms to improve retirement benefits. The 16th annual report compares 48 retirement systems that account for 65% of the world's population. The UAE's ranking has risen steadily for four consecutive years, now standing 23rd globally.
The UAE’s pension index value increased from 62.5 in 2023 to 64.8 in 2024, driven by decisions such as raising the retirement age to align with rising life expectancies. These reforms are intended to boost pension benefits for Emirati households.
Notably, the UAE ranks 12th globally for the adequacy of its pension system, with a score of 77.1, and 25th for integrity, scoring 75.3. Al Mansoori highlighted that this progress aligns with the government’s broader strategy to improve services across sectors like education, healthcare, and housing, emphasizing the importance of sustainable pension solutions.
The UAE's continued improvement in global pension rankings underscores its commitment to securing a prosperous future for its citizens.
News Source: Emirates News Agency
