Media ININ Economy We Trust
Aug 21
The Abu Dhabi Pension Fund has identified 3 flexible ways to pay the cost for adding the previous service periods of the insured, with the aim of facilitating all procedures for the insured, as they can choose the appropriate payment method for them, and the appropriate installment period with a maximum of 10 years.
The fund stated that the flexible payment methods for the insured are: “Payment in one payment by bank transfer or direct debit, or payment as a down payment with the remaining amount in installments for a maximum of 10 years, or the entire amount in installments for a maximum of 10 years.”
The Abu Dhabi Retirement Fund confirmed that joining the previous service periods of the insured persons registered with the fund from the government and private sectors, is done automatically and without cost, upon the termination of his service from his employer and joining work in another entity under the umbrella of the fund, but on condition that the end-of-service reward is not paid for this period. Pointing out that if the insured decides to pay the end-of-service gratuity, and then wishes to add his previous period of service later, he will have to pay for the cost of addition at the rate of 26% of the salary on the basis of which the contributions are paid on the date of submitting the application for addition.
The Fund stressed the importance of the insureds joining their previous service periods when they joined a new employer, to preserve their rights to obtain the insurance benefits determined for them according to the retirement law, for the entire period of their service, as well as for the purposes of entitlement to a retirement pension or bonus.
The Fund stated that if the service of the insured was terminated by an employer not affiliated with the Fund, such as the federal authorities, and he joined the work with an employer affiliated with the Fund, the cost of addition will be 26% of the salary on the basis of which contributions are paid on the date of submitting the application for annexation.
The Fund indicated that the periods of service allowed to be included are: the previous service period in the federal government, the previous service period in the government and private sectors in the Emirate of Abu Dhabi, as well as in the private sector outside the Emirate of Abu Dhabi, the previous service period in the local departments in the emirates of the country according to the conditions specified by law. The period of military service, the period of service prior to obtaining the nationality of the state, the period of service for a citizen outside the state, provided that he obtained the nationality of the state during the service, in addition to the period of service of the military student, provided that he joins the armed forces thereafter. The fund indicated that in order to combine the previous service periods, the insured must pay the cost of the addition at the rate of (26%) of the salary on the basis of which the pension contributions are paid at the time of submitting the application for addition, provided that the cost of joining is not less than the value of the reward spent for the period to be joined, indicating that The issuance of the final approval of the add-on request requires that the insured pay the full amount of the add-on cost before the termination of his service.
The fund stated that in the event that the insured’s service ends before the payment is completed, the joined period is calculated in proportion to the amount paid, indicating that the insured can submit requests for joinder through the fund’s digital services on the Abu Dhabi Unified Government Services System “Tamm”.
