Mr. Khalifa Issa Al Khulaifi, Director of the Retirement Department at the General Retirement and Social Insurance Authority (GRSIA), confirmed that since the actual implementation of the Social Insurance Law took place on 3-1-2023, work has been done to implement all articles of the Law as stipulated, such as raising the percentage of beneficiaries' shares in terms of pension salaries and the widows' shares to 100%, and the inclusion of the housing allowance in the salary of the subscription account.
Al Khulaifi said that there are other articles which implementation is related to the issuance of the Law's executive regulation to be issued soon, as they are represented by new articles that did not exist in the previous law, including granting retirement loans, lump-sum compensation, and disbursement of the end-of-service entitlements for the employment periods that exceed 30 years. When issued, the regulation will specify the amount of those payments, the terms of their entitlement, and the controls for their disbursement.
He highlighted GRSIA's coordination with all employers by issuing several circulars for both government or private sector entities covering the housing allowance, the need to update the data of the insured from both sectors, updating the data of existing employers, and registering newly established employers in accordance with the provisions of this Law.
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