GPSSA board approves final budget for 2024

Mubarak Rashed Al Mansoori, Chairman of the Board of Directors of the General Pension and Social Security Authority (GPSSA), chaired the third board meeting on Wednesday June 25, 2025, in the presence of members of the board and subsidiary committees. Al Mansoori began the meeting by welcoming members of the board who then proceeded to discuss the meeting agenda, approve the minutes of the previous meeting and review GPSSA’s leadership decisions and recommendations, as well as those taken by the subsidiary committees, namely: the Higher Committee for Human Resources and Remuneration, the Investment Committee, the Audit and Risk Committee, and the Development and Improvement Committee. The GPSSA discussed and approved the investment sector’s strategy and the final budget for 2024 as recommended and approved by the Council of Ministers. The financial performance report for April 2025 and the developments in GPSSA’s Ma’ashi digital platform were also highlighted, alongside other topics on the agenda that required appropriate decision-making. GPSSA’s statistics for May 2025 indicate that the number of contributors has increased to 157,979 in comparison to 130,678 in May of last year, showing a rise of 27,301 contributors. The number of employers registered with the GPSSA increased to 20,288 compared to 16,526 in May of last year, an increase of 3,762 employers. Additionally, the number of pensioners in May 2025 have increased to 21,417 in comparison to 20,516 pensioners for the same period last year and the number of beneficiaries reached 8,408 compared to 8,314 for May of last year, while the value of pensions disbursed for May 2025 amount to AED478,686,572.69 compared to AED451,262,595.96 for the same month last year, showing an evident increase of AED27,423,977.