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Pension authority issues statement about amendments to retirement and pension laws

The General Pension and Social Security Authority has issued a statement about amendments to retirement and pension laws in light of rumours circulating online.

“Information is circulating online about the new pension laws taken from a link about the new law from our website,” the authority said on Wednesday.

“This information contains an abbreviated explanation of the current law issued in 2007. We ask the general public to verify information before circulating them with no knowledge, to avoid rumours.

“Spreading of such rumours is misleading and can have legal repercussions.”

The upcoming amendments are expected to be issued in November.

Some of the information being circulated on social media sites included suggestions that pension deductions for Emirati citizens would increase, over four years, from 5 per cent to 15 per cent.

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(via The National)