UAE exempts employers from fines for late pension contributions
Decision valid only for the months of 0ctober and November
Abu Dhabi: Employers in the federal, government and private sectors will be exempt from incurring fines due to late contribution payments for the months of October and November 2024, according to a decision taken by the Board of Directors at the General Pension and Social Security Authority (GPSSA).
The decision was issued as appreciation to the support received by GPSSA’s strategic partners during the launch of the Ma’ashi platform, which consists of new and updated digital services and features for stakeholders.
According to Article No. (13) in the Federal Law No. (7) of 1999 regarding pension and social security, in addition to Article No. (12) in Federal Law No. (57) of 2023 regarding pension and social security, contribution payments are due on the first day of each month and may be extended until the 15th day of that month.
Accordingly, the exemption period for employers to contribute payments for their employees has been extended to December 15. As a result, employers have been urged to complete their contribution transfers on the Ma’ashi platform in a timely manner, without having to incur financial consequences.
This decision has been taken to lessen pressure on employers by extending the contribution payment deadline.
After delivering various English and Arabic speaking workshops, which are still ongoing, regarding the Ma’ashi platform, employers are requested to ensure employee data and salary details are up to date and articulate.