The General Pension and Social Security Authority (GPSSA) in the UAE has entered into a Memorandum of Understanding with the Etihad Credit Bureau, a federal entity specializing in data technology that simplifies information and provides valuable financial insights. This collaboration is designed to aid private sector employers in the UAE in meeting their pension contribution responsibilities for Emirati employees.
Leveraging data for decision-making
Through this partnership, GPSSA will utilize the Bureau’s advanced credit data products to assess the financial health and stability of the private sector, ensuring compliance with pension contribution obligations. This further aligns with GPSSA’s proactive service approach and supports the UAE government’s mission to promote sustainability and global competitiveness.
Enhancing operational capabilities
Faras Al Ramahi, GPSSA’s director-general, stated that the authority is continuously seeking innovative ways to enhance operational capabilities and facilitate data exchange and digital connectivity. He also added that this partnership aligns with the UAE’s goals to foster productive collaborations and provides high-quality digital services along with a robust technical infrastructure.
Expanding financial insights
Marwan Ahmad Lutfi, director-general of Etihad Credit Bureau, remarked that the initiative extends beyond just credit facilities to include financial health, security, and stability within both the government and private sectors. He further expressed the expectation that by providing these insights, clarity and accountability would be enhanced in supporting the market in meeting their payment contributions to the Pension Authority.
Comprehensive data exchange framework
Moreover, both organizations have established a comprehensive database exchange framework that details the provision of information, statistics, and descriptive data analytics, while also identifying best practices to promote a sustainable digital transformation process for all stakeholders.
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