This is an increase from July 2023, when AED 711,323,785.25 was allocated to 46,835 beneficiaries.
The UAE Pensions and Social Security Authority (GPSSA) announced the payment of pensions totalling AED794,520,346.03 ($216.31 million) on Friday, 26 July 2024, to be paid to 48,199 pensioners and beneficiaries. This is an increase from July 2023, when AED711,323,785.25 was allocated to 46,835 beneficiaries. There were 1,364 more pensioners and beneficiaries this month, resulting in an increase of AED83,196,561 in payments.
Who are the eligible recipients?
The payments are made to individuals covered by Federal Pensions and Social Security Act No. 7 of 1999, and those whose files are maintained by GPSPA on behalf of the Ministry of Finance in accordance with applicable pension legislation.
Pension increase in March 2024
In March 2024, the UAE government increased pension payments for the month compared to the previous year to reflect the increased number of beneficiaries. Pension payments paid on 27 March 2024 totalled AED 766,457,286.56 ($208.7 million). Compared to March 2023, when the amount paid to pensioners was approximately AED 689.8 million, payments in March 2024 increased by more than AED 76 million.
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Increasing the number of beneficiaries
According to GPSSA, the increase is due to the addition of 1,525 beneficiaries, bringing the total number of eligible beneficiaries to 47,940. Moreover, the payment is targeted to UAE nationals who fall within the scope of Federal Pension Law No. 7 of 1999 on Pensions and Social Security, as amended. Additionally, UAE nationals whose files are managed by GPSSA on behalf of the Ministry of Finance are also eligible to receive the payment.
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The UAE Pensions and Social Security Authority (GPSSA) announced the payment of pensions totalling AED794,520,346.03 ($216.31 million) on Friday, 26 July 2024, to be paid to 48,199 pensioners and beneficiaries. This is an increase from July 2023, when AED711,323,785.25 was allocated to 46,835 beneficiaries. There were 1,364 more pensioners and beneficiaries this month, resulting in an increase of AED83,196,561 in payments.
Who are the eligible recipients?
The payments are made to individuals covered by Federal Pensions and Social Security Act No. 7 of 1999, and those whose files are maintained by GPSPA on behalf of the Ministry of Finance in accordance with applicable pension legislation.
Pension increase in March 2024
In March 2024, the UAE government increased pension payments for the month compared to the previous year to reflect the increased number of beneficiaries. Pension payments paid on 27 March 2024 totalled AED 766,457,286.56 ($208.7 million). Compared to March 2023, when the amount paid to pensioners was approximately AED 689.8 million, payments in March 2024 increased by more than AED 76 million.
Increasing the number of beneficiaries
According to GPSSA, the increase is due to the addition of 1,525 beneficiaries, bringing the total number of eligible beneficiaries to 47,940. The payment is available to UAE nationals who fall within the scope of Federal Pension Law No. 7 of 1999 on Pensions and Social Security, as amended. Additionally, UAE nationals whose files are maintained by GPSSA on behalf of the Ministry of Finance are also eligible to receive the payment.