His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, in his capacity as Ruler of the Emirate of Dubai, issued a law regarding the Pension and Social Security Fund for local military personnel working in the Emirate of Dubai.
The fund enhances Dubai's vision in the social sector for pensions and social security for military personnel.
The law defines the fund’s competencies and supervision, as it stipulates that the Director General of the Department of Finance in Dubai undertakes the general supervision of the fund’s administrative, technical and financial affairs, and that it carry out its competencies, provided that it issues what it deems appropriate of the decisions and procedures necessary to achieve its objectives.
The law stipulates that the fund shall have an executive director who shall be appointed by a decision issued by the Chairman of the Executive Council of the Emirate of Dubai. The law also defines the terms of reference of the executive director and the fund's financial resources, including its accounts and financial year.
The law obligates government agencies in Dubai to cooperate fully with the fund, and to provide it with data, information, studies, statistics and information systems that it requests, and which it deems necessary to enable it to achieve its goals and carry out the tasks and powers entrusted to it.
The law stipulates that all rights, obligations, responsibilities and powers entrusted to the management of pensions and social security for local military personnel, affiliated to the Department of Finance, shall be transferred to the fund, in accordance with the legislation in force in the emirate. The financial allocations set aside for this department in the annual budget of the Department of Finance are also transferred to him.
The decision of the Executive Council to establish a pension and social security administration for local military personnel working in the Dubai government is rescinded under the new law.
The law aims to support and enhance Dubai’s vision in the social sector for pensions and social security for military affiliates, in line with the policies and strategic plans approved in this regard, apply best practices for pension and social insurance services, and organize the affairs of affiliates, pensioners and those entitled to them in the fund, to meet all their insurance needs. .
• "The Fund enhances Dubai's vision in the social sector for pensions and social security for military personnel."
• «Transferring financial allocations, rights, obligations, and powers of managing military pensions in the Department of Finance to the Fund».
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