Today's Edition
ABU DHABI (WAM)
Khalaf Abdullah Rahma Al Hammadi, Director-General of the Abu Dhabi Pension Fund, confirmed that the Fund’s early investment in digital systems has significantly contributed to increasing employer compliance with the law, ensuring the sustainability of the pension system, and protecting the rights of citizens and their families.
He pointed out that the Direct Debit system – which the Fund began implementing in recent years as one of the outcomes of digital transformation – has succeeded in raising the pension contribution collection rate to 99.93 percent.
Al Hammadi stated that the Direct Debit service currently serves more than 6,000 employers, allowing them to automatically deduct contributions from their bank accounts at the beginning of each month.
This has helped ensure that contributions are paid on time, and avoid any additional amounts due to delays, which has strengthened their compliance with the pension law in the Emirate of Abu Dhabi.
Al Hammadi noted that the Direct Debit service is also applied to paying the cost of adding previous service periods, benefiting nearly 5,000 insured individuals.
The Directo- General of the Fund explained that the project contributed to redesigning the traditional method of contribution payment used in most pension funds worldwide, as it developed a comprehensive and clear journey for both employers and insured individuals.
The payment process has become automatic, following standards that ensure the security of personal data through the use of digital identity (UAEPASS). It also serves the Fund’s goals of enhancing transparency and securing citizens’ pension rights.
Al Hammadi pointed out that managing pension contributions is one of the Fund’s most important tasks, as its success and efficiency are directly linked to ensuring the stability of citizens’ income after retirement and achieving long-term financial security for them and their families.
He noted that the Fund, as part of its digital plans, developed advanced digital systems to manage contributions efficiently and facilitate payment for employers.
Al Hammadi stated that one of the most important systems the Fund developed – in addition to the Direct Debit service – for managing pension contributions is the Smart Contributions system, which provides a comprehensive database for employers and enables the preparation of preliminary monthly contribution invoices without the need for regular data updates or additional effort by the employer.
He noted that the system offers a shared integrated data platform with the Fund, ensuring data accuracy and supporting decision-making.
Al Hammadi highlighted the importance of the solutions developed by the Fund’s team to facilitate the contribution payment process, which contributed to increasing partners’ trust in the system and its quality, and overcame the challenges and obstacles they previously faced.
He added that the digital solutions not only helped speed up procedures but also reduced bureaucracy and administrative burdens on employer staff, allowing them to focus on other strategic tasks that improve institutional performance.
Al Hammadi emphasised the importance of cooperation between government and private sectors in simplifying procedures for citizens, and offering an exceptional customer experience. He praised the role of the Central Bank of the UAE and First Abu Dhabi Bank for their support in facilitating the implementation of the Direct Debit service.
He confirmed the Fund’s continued efforts to invest in technology and commit to ongoing development, in line with the Abu Dhabi Government’s vision of improving public services and enhancing the customer experience, strengthening Abu Dhabi’s reputation as a leader in pension services.
