GPSSA and Etihad Credit Bureau Partner to Boost Emirati Pension Compliance

November 12, 2024 thehrobserver-hrobserver-emiratipension

The UAE’s  General Pension and Social Security Authority (GPSSA) has signed a preliminary agreement with Etihad Credit Bureau to assist private sector employers in meeting pension obligations for Emirati employees, a move that reflects the UAE’s commitment to enhancing workforce security and compliance, particularly for Emiratis in the private sector.

By partnering with Etihad Credit Bureau, GPSSA aims to streamline and enforce pension contribution obligations, a move that can impact HR practices, payroll management, and overall employee satisfaction within UAE-based companies.

Understanding this agreement HR professionals can stay informed on regulatory expectations and support workforce stability and trust, especially among Emirati employees, as pension security becomes increasingly prioritised.

“GPSSA continuously looks for new and innovative ways to elevate operational capabilities and the exchange of data and digital connectivity. This collaboration not only correlates with the UAE’s directives to encourage fruitful partnerships, it also provides high quality digital services and an excellent technical infrastructure,” said Faras Al Ramahi, GPSSA’s Director-General.

This partnership will enable insight-driven decision making, as GPSSA leverages the Bureau’s advanced credit data products to evaluate the financial wellness and stability of the private sector in fulfilling their pension contribution obligations, which correlates with GPSSA’s proactive service approach and contribute to the UAE government’s mission to ensure sustainability and globally competitiveness.

“This initiative goes far beyond the focus on credit facilities – extending to financial health, security and stability in the government and private sector. By enabling these insights, we anticipate increased clarity and accountability towards supporting the market in meeting their payment contributions to the Pension Authority,” said Marwan Ahmad Lutfi, Director-General of Etihad Credit Bureau.

Both parties said they have implemented a strong database exchange framework which outlines the supply of information, statistics and descriptive data analytics, while identifying best practices that promote a current and futuristic sustainable digital transformation process for all stakeholders alike.

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