Sharjah 24: The Sharjah Social Security Fund (SSSF) confirmed the possibility of purchasing a nominal period of service, in accordance with the Social Security Law of the Emirate of Sharjah, No. 5 of 2018, whereas the insured will be able to improve the pension at the end of service, by purchasing a nominal service period added to the period of the actual service.
The law provides multiple options for the insured to amend and improve the period of service to obtain more benefits and rights; and to improve financial conditions making the most out of the social security system. The law contributes to meeting the needs of the insured and providing opportunities to increase the pension, to achieve well-being and stability for the insured and their families by providing the necessary social services that ensure a stable and comfortable life.
The insured may purchase a period not exceeding 5 years for men, and a period not exceeding 10 years for woman, under a set of specific conditions to achieve optimal benefit.
In detail, the law provides for several conditions that must be met for the insured to purchase a nominal period of service. The law stipulates that the insured must submit a request to purchase a nominal service period, in writing, before the end of their actual service period; they must have a record of a minimum of twenty years of actual service; and the allowable period shall not exceed 5 years for men and 10 years for woman.
Under the law, the insured shall bear the costs of purchasing the period of service, in proportion to the salary at the date of the purchase request. Payment may be by lump sum or periodic installments. Installments period must be before the insured have reached sixty years for men and fifty-five years for women, which reflects the important role played by SSSF in meeting the needs of society and supporting individuals and families.
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