Abu Dhabi: The General Pension and Security Social Authority has approved the UAE Fund Transfer System (UAEFTS) to transfer the salaries of retirees directly to their bank accounts.
A total of 29,221 retirees will benefit from the new fund transfer system whose accounts are with 39 banks across the country. The move will help save time as the salary transfer used to take three to four days before implementation of the new system. The salaries of the retirees will be transferred at once to the National Bank of Abu Dhabi, which will then transfer these directly to the accounts of retirees.
