Tuesday 7 July 2020

Abu Dhabi announces major amendments in pensions law

ABU DHABI, May 23, 2020

UAE President HH Sheikh Khalifa bin Zayed Al Nahyan, in his capacity as Abu Dhabi ruler, has issued Law No. (15) of 2020, amending some provisions of Law No. (2) of 2000 regarding civil retirement pensions and benefits for the emirate.

The law included a number of amendments that contribute to strengthening the pensions system, the first of which is increasing the maximum limit of the pensionable salary (on which the pension is calculated after retirement) for citizens working in the private sector from Dh60,000 to Dh200,000 ($16,332 to $54,442) as well as increasing the minimum limit of the pensionable salary from Dh3,000 to Dh6,000 ($816 to $1,633), reported the state news agency Wam.

According to the amendments mentioned in the law, the government will bear the cost resulting from this adjustment, thus relieving those insured from any financial obligation, it added.


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