The Vice President and Prime Minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as ruler of the Emirate of Dubai, enacted Law No. 7 of 2022 on the Social Security and Pension Fund for Military Personnel local working in Dubai, to support and enhance Dubai’s vision in the social sector for pensions and social security for military affiliates, consistent with approved policies and strategic plans in this regard, and the application of best insurance practices for pension and social security services.
The fund also aims to improve the quality of the insurance services it provides and support efforts and development efforts aimed at leadership and excellence in procedural efficiency, in order to achieve the government’s goals of making the population happy. society and ensure and provide the financial resources and cash liquidity necessary to ensure the financial sustainability of the fund’s resources and its continuity in the coverage of the insurance rights of military affiliates, pensioners and their beneficiaries.
The provisions of this law shall apply to the “Pension and Social Security Fund for Local Military Personnel Working in the Emirate of Dubai” established by Law No. 21 of 2008 on pensions and social security of local military personnel working in the Emirate of Dubai. in the Government of Dubai. .
The law defines the powers and supervision of the fund and stipulates that the Director General of the Dubai Department of Finance shall assume the general supervision of the administrative, technical and financial affairs of the fund and carry out his duties under this law and the decisions issued by virtue of the same and the legislation in force in the emirate, provided that it dictates what it deems appropriate regarding the decisions and procedures necessary to achieve its goals.
The law stipulates that the Fund will have an Executive Director, who will be appointed by decision of the President of the Executive Council of the Emirate of Dubai. Specifies the mandate of the Executive Director and the financial resources of the Fund, including its accounts and exercise.
Government agencies of the Emirate of Dubai are required by law to cooperate fully with the Fund and to provide it with any data, information, studies, statistics and information systems it requests, which it deems necessary to enable it to achieve its objectives and carry out the functions and powers entrusted to it.
The law establishes that all the rights, obligations, responsibilities and powers that were used to administer the pensions and social security of local military personnel in the Department of Finance will be transferred to the Fund as of the date of its entry into force, in accordance with the legislation. in force in the emirate, and the financial allocations assigned to this department in the annual budget of the Department of Finance will be transferred to it.
And according to the new law, the Executive Council Resolution No. 25 of 2006 establishing a Department of Pensions and Social Security for local military personnel working in the Government of Dubai is repealed, as well as any provision in any other legislation. that contradicts the provisions of Law No. 7 of 2022, which is published in the Official Gazette, and enters into force as of the date of the bulletin.