More incentives for Emiratisation: The new Pension and Security Law introduces provisions to bridge any gaps in the Emiratisation pension and ins. services and policies, with an eye to improving the pension and social security system and encourage Emirati nationals to join the private sector labor force, Wam reported, citing the General Pension and Social Security Authority (GPSSA).

What does the new law offer?

  • Increasing employers’ maximum contribution to the pension savings account for Emirati nationals to AED 70k from AED 50k.
  • Working mothers with five children or more are entitled to request their pensions at a younger age or to subscribe for a shorter period.
  • Pensions are calculated based on employees’ last six years of work in both the public and private sectors.
  • Pensioners who have worked in either the public or private sector, whose subscription period has reached 30 years, have the right to merge the pension with a salary from a new job.
  • The UAE government will support private sector employees who have less than AED 20k in their pension contribution account.

We want more nationals in the private sector: The government aims to increase the number of Emiratis working in the private sector to 6% in 2024, 8% in 2025, and 10% in 2026. To this end, the government launched the Nafis program in 2021 to ensure that 75k highly-trained Emirati professionals fill 10% of the positions in private companies by 2026.

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