"Sharjah Social Security" It confirms the permissibility of installments of 75% of the costs of including the service

Sharjah, April 13 / WAM / The Sharjah Social Security Fund affirmed that the costs of annexing previous service periods or purchasing a legal service period, which allows the insured to benefit from previous work periods or legal periods within the period of his subscription in the fund, are calculated according to the subscription salary and paid at once with the possibility of payment in installments.

The fund explained that the soft installment mechanism requires that 25% of the total costs be paid as a first payment, provided that the remaining amount will be paid, i.e. 75% through equal monthly installments.

The inclusion of the service is intended for the costs of annexing previous service periods spent by the insured in other business authorities before joining the fund or buying a legal service period that is counted within the service years for retirement purposes, provided that the conditions stipulated in the Social Security Law of the Emirate of Sharjah are fulfilled.

Initial controls are that the value of the monthly installment is not less than a quarter of the subscription salary, and the installment period does not exceed 60 months, starting from the date of notification of the insured to pay.

It is also required that the payment of all installments be completed before the end of the insured service, and it is not permissible for the referral age to retire at the time of payment to ensure that the period is calculated within the pension dues.

This service achieves an area sought by the Sharjah Social Security Fund with the aim of achieving functional stability and rewarding entitlement when retiring with the insured.

His Excellency Mohammed Obaid Rashid Al Shamsi, Director General of the Fund said that the mechanism for installing the costs of the service aims to enable the insured to improve his retirement future without being weighted at a financial cost at once, and is an important step towards enhancing the protection of insurance rights of the insured and enabling them to raise the active years of service, in a way that reflects positively on their retirement dues and provides them with a decent life after retirement.

All the insured called for the initiative to include the period of service when the conditions are met to ensure that they benefit from the insurance benefits stipulated in the law.

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