SHARJAH: In a significant move to enhance the financial stability of retirees, H.H. Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved a measure to raise the retirement pension for those receiving a percentage of the pension in Sharjah. The initiative aims to ensure that all retirees receive a minimum pension of AED17,500, ensuring a decent standard of living.
According to Emirates News Agency, this adjustment is set to begin on December 1, 2024, and will be implemented annually with a financial outlay of AED1,300.00. The plan also includes a retroactive disbursement to cover the difference needed to reach the minimum pension level, amounting to AED4 million, starting from the date of retirement.
The announcement was made by Abdullah Ibrahim Al Zaabi, Chairman of the Sharjah Department of Human Resources, during a telephone interview on the ‘Direct Line’ programme aired by Sharjah Broadcasting Authority. This decision underscores the commitment of the Sharjah government to support retirees by ensuring their financial well-being through systematic pension enhancements.