Abu Dhabi (WAM)
The General Pension and Social Security Authority confirmed that the actual implementation of the “Shorek” project begins on July 1 for those who will move to new employers from this date.
The authority indicated that the “Shorak” project – which benefits workers in the government and private sectors – opens the door for those wishing to move between different employers, with the service period remaining continuous and connected.
Mohammed Saqr Al Hammadi, Director of the Pensions Operations Department at the Authority, explained that the “Shorak” program, which the Authority announced its launch earlier this month, represents the first transformation projects of the Authority within the performance agreements of the federal government agencies for the year 2022, which were signed in the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, may God protect him.
Al-Hammadi said: “The program comes in line with the desires and claims of many insured persons to deal with interrupted periods of service when moving from one employer to another, and given the cost that some may see as a bit high, this project allows the amalgamation process without bearing the costs resulting from the calculation equation. The cost of conjoining, which was calculated on the salary of the subscription account at the date of submission of the conjoining application, multiplied by 20% multiplied by the period of service to be conjoined in months, so that it is only sufficient not to pay the reward for the period of service ended for the purposes of conjoining.
He noted that the authority worked in cooperation with the Council of Ministers to reach this agreement within the framework of the government’s endeavor to establish standards for the new government work system, which includes launching transformational projects that achieve a significant impact in various sectors in short periods of time, and contribute to the UAE’s society being the most prosperous. And achieving the state’s strategic direction within the vision of “We Are the Emirates” over the next ten years in building a lofty nation that supports prosperity and empowers citizens with financial stability and a decent life.
Flexible and renewable policies
The Director of the Pensions Operations Department at the Authority explained that “Shorak” contributes to strengthening the government’s ability to adopt renewable government concepts and models and design flexible, renewable and human-enabled policies, which contributes to raising the competitiveness of talents and capabilities and exchanging experiences between the various work sectors, especially in light of the major transformations that are taking place. on the country’s business sector.
He stated that the project benefits all citizens working in the government and private sectors and who are covered by the retirement system of the General Pension Authority, while “Shorak” does not apply to the insured who are covered by other funds when moving to an entity subject to the provisions of the Federal Pension Law, although the insured can in Such a case is to take advantage of the benefit exchange system, which allows transfer between pension funds if the human resources regulations between the two parties allow transfer, so that the service of the insured becomes connected, and the employer to whom the transfer is transferred bears any differences in the cost of joining, if any, after transferring the insured’s bonus to the employer. transferred to it.
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