ABU DHABI 1st, May 2023 (WAM). The Shourak, the first transformational initiative launched by the General Pension and Social Security Authority, aims to inform insured Emiratis about the importance of merging prior and current employment/service period in the event of a career change in order to increase the number of years of service without incurring any additional costs.
Shourak was organised in conjunction with a performance contract signed last year by His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President, Prime Minister and Ruler for Dubai.
The UAE’s new working methodology aligns the result-oriented performance agreement with qualitative and futuristic sectoral transformation projects in short term that will increase the country’s competitiveness.
Shourak, also known as “preference” in English, which will come into effect on 1st of July 2023 required GPSSA update its work mechanisms so that insured individuals who have completed their employment and are entitled to a benefit at the end of service can agree not to be paid their end-of service gratuity from previous service years but to merge it with subsequent service, without incurring the additional costs arising from the calculation formula applicable for Emiratis working in both the private and government sectors.
The project is designed to encourage more Emiratis to benefit from the retirement system. This will be done by offering them options that promote a futuristic lifestyle, and financial sustainability. It also aims to facilitate the transition of Emiratis between work sectors in a flexible way, which offers flexibility to business, while increasing the level of competition among Emiratis to find the best possible job opportunities.
The ‘Shourak” project is a good example of how to achieve these goals. It supports citizens in both the public and private sector by making it easier to join and complete the necessary service to qualify for retirement benefits. This is the ultimate objective of social and pension insurance: to ensure that insured individuals have a high quality of life, and not be burdened, particularly when they change careers.
This project will support the UAE vision of ‘We The UAE 2031’ to become one of the most competitive and prosperous economies in the next 10 years. It will empower Emiratis and provide them with a decent life style and financial stability.
Shourak is a key contributor to the UAE’s vision of a future-oriented government that is focused on results. Shourak helps the UAE government to adapt to new concepts and models of government, and to come up with innovative and flexible human-enabling policies, which contribute to the country’s overall competitiveness and talent.
The project also encourages an exchange of experience between entities, fields, and sectors. It places emphasis on the transformational processes taking place in business, as highlighting this subject facilitates the transition to a different entity or a change in career path. All of these indicators will increase the level of flexibility and competition, and bring about a greater level of productivity, without unnecessary obstacles.