Sharjah24: An official delegation from the General Pension and Social Security Authority (GPSSA) is participating in a training workshop from 12-16 February 2023 in the Kingdom of Saudi Arabia as a continuation to a preparedness meeting organized by the permanent technical committee for GCC civil retirement bodies, who previously met in Bahrain and Kuwait.
The GPSSA delegation attending the meeting at the General Organization for Social Insurance (GOSI) in Riyadh, Kingdom of Saudi Arabia, includes: Mohamed Saqer Al Hammadi, Pension Operations Department Head who is representing the GPSSA in the field of pension and social insurance; Hind Al Suwaidi, Benefits Management Department Head and Acting Executive Director at the Pension Sector who is representing actuarial studies and Abdullah Mohamad Baqer, Legal Researcher at the Legal Affairs Office who is representing insurance inspection.
Some of the highlights during the pension and social insurance workshop will include best practices and experiences; services; risks and causes; challenges related to the payment of registration and contributions; the overall infrastructure of pension systems and the extent by which they experience transformation and the importance of exchanging data and analysis.
Workshops on actuarial studies cover the risks associated with the field of social insurance that are monitored through analyzing the demographic environment associated with participants; the pension system in different countries and their related legislations; financial plans, risk management, assets, investments, financial position and the extent by which institutions are able to achieve financial sustainability and develop practical solutions to reduce the possibility of undesirable events, thus avoiding negative consequences related to those events when and if they occur.
The insurance inspection workshops review the role and authority of an insurance inspector, best practices demonstrated in the inspection process, the impact of those operational inspections on funds and ways to carry out operations in a proficient manner in order to achieve the desired goal. The discussion will also highlight the type of professional, personal and behavioral qualities an inspection officer needs to possess, as well as an employer’s/entity’s obligation towards inspection officers and the scope by which inspection officers are allowed to carry out their duties without invading the privacy of the employer/entity or violating any of their power.
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