Today's Edition
ABU DHABI (ALETIHAD)
Abu Dhabi Pension Fund (ADPF) on Thursday announced that the second year of the gradual implementation of the amended pension eligibility requirements will begin on December 1, 2024, confirming that no new amendments to the pension eligibility conditions will be made. Instead, the gradual implementation will proceed as per the amended Pension Law that was issued in November 2023, which had been previously announced.
The Fund pointed out that, according to the transitional provisions of the pension eligibility conditions that were announced earlier, the years of service and the eligible retirement age will gradually increase based on the status of each active member, at a rate of 6 months annually, until the retirement eligibility condition specified in the law is reached. The Fund further noted that the minimum age for early retirement in the second year of the implementation of the amended law (beginning December 1, 2024) will be 45 years and 6 months, provided that 25 years of service have been completed. This age will gradually increase by 6 months each year.
The Fund clarified that the gradual implementation plan applies exclusively to active members who are still in service and were registered with the Fund before December 1, 2023. New active members hired after this date will be directly subject to the amended pension conditions announced last year.
The Fund encouraged all active members to take advantage of its digital services package through the "TAMM" platform. The platform provides a service that automatically displays the expected pension age and pension eligibility date on the member’s dashboard. It also automatically calculates all details related to pension eligibility, including retirement age and years of service required, according to each member’s case, whether male, female, or a woman with children.
The Fund pointed out that its digital services also include additional tools for those who wish to learn about their expected pension amounts, such as the pension calculator and end-of-service gratuity calculator, along with the ability to calculate the cost of adding previous service periods. These services are designed to keep members informed about their insurance rights and personal updates, helping them make the best professional decisions for their future.
Khalaf Abdullah Rahma Al Hammadi, Director General of ADPF, emphasised the Fund's commitment to gradually and thoughtfully implementing the amended Pension Law, ensuring a balance between the financial sustainability requirements of the pension system and the rights of active members.
He added: "We strive to provide integrated solutions that allow customers to understand the amended pension eligibility conditions, offering proactive services that provide easy access to information about their insurance status, to help them make professional decisions, enhancing their financial stability and securing a safe future."
