UAE pension payments rise to $208.7mln

The UAE government is disbursing higher pension payments for the month of March compared to a year ago, as the number of beneficiaries has increased.

The General Pension and Social Security Authority (GPSSA) said that a total of AED 766,457,286.56 ($208.7 million) in pension payments is scheduled to be released today, March 27, 2024.

The value of payments for March 2024 is up by more than AED 76 million in comparison to the same month in 2023, when the state disbursed around AED 689.8 million to pensioners.

The payments have gone up, as a total of 1,525 individuals have been added as beneficiaries, bringing the total number of eligible recipients to 47,940, the GPSSA said.

The payments are to be disbursed to Emiratis subject to Federal Pension Law No. 7 of 1999 for Pension and Social Security and its amendments, as well as to eligible UAE nationals whose files are managed by the GPSSA on behalf of the Ministry of Finance.

Source: https://www.zawya.com/en/economy/gcc/uae-pension-payments-rise-to-2087mln-m42z4of5