ABU DHABI (ALETIHAD)
The General Pension and Social Security Authority (GPSSA) has signed a Memorandum of Understanding (MoU) with the Etihad Credit Bureau, to exchange data and digital connectivity, aiming to evaluate the financial wellness and stability of the private sector in fulfilling their pension contribution obligations.
The partnership enables insight-driven decision making, as GPSSA leverage the Bureau's advanced credit data products to evaluate the financial wellness and stability of the private sector in fulfilling their pension contribution obligations, which correlates with GPSSA’s proactive service approach and contribute to the UAE governments mission to ensure sustainability and globally competitiveness.
The MoU comes in a quest to support UAE-based private sector employers to fulfil their obligation regarding pension contributions on behalf of their Emirati employees.
During a ceremony attended by key executives from both corporations, Faras Al Ramahi, GPSSA’s Director General, said: “The General Pension and Social Security Authority continuously looks for new and innovative ways to elevate operational capabilities and the exchange of data and digital connectivity.”
Al Ramahi added, “This collaboration correlates with the UAE’s directives to encourage fruitful partnerships and provides high quality digital services and an excellent technical infrastructure, while fulfilling our proficient mission to gain knowledge and expertise from some of the most prominent government entities in the nation.”
For his part, Marwan Ahmad Lutfi, Director General of Etihad Credit Bureau, said: “This initiative goes far beyond the focus on credit facilities – extending to financial health, security and stability in the government and private sector. By enabling these insights, we anticipate increased clarity and accountability towards supporting the market in meeting their payment contributions to the Pension Authority.”
Both parties have implemented a robust database exchange framework which outlines the supply of information, statistics and descriptive data analytics, while identifying best practices that promote a current and futuristic sustainable digital transformation process for all stakeholders alike.