“Direct Discount” raises the rate of collection of pension to 99.93 %

The Director General of the Abu Dhabi Retirement Fund, Khalaf Abdullah Rahma Al -Hammadi, stressed that the investment of the early fund in digital systems has greatly contributed to enhancing the compliance of the work agencies of the law, ensuring the sustainability of the retirement system and protecting the rights of citizens and their families, noting that the direct deduction system -which the fund began to implement during the past years as one of the fruits of digital transformation, succeeded in raising the rate of collection of retirement contributions to 99.93%.

Al -Hammadi stated that the direct deduction service currently serves more than 6000 employees, as it allows them to automatically deduct the subscriptions from their bank accounts at the beginning of each month, which contributed to ensuring the payment of subscriptions on time, and avoiding the accumulation of any additional amounts as a result of the delay, which strengthened their compliance with the requirements of the retirement law in the Emirate of Abu Dhabi.

Al -Hammadi pointed out that the direct debit service is also applied to pay the cost of including the previous service periods, and approximately 5,000 believers benefit from it.

The general manager of the fund explained that the project contributed to the redesign of the traditional subscriptions used in most international pension funds, as it developed it to draw a comprehensive and clear journey, whether for the entities or to the insured, as the payment process has become automatically, according to criteria that guarantee the security of personal data through the use of digital identity), and also serve the goals of the fund to enhance transparency and ensure pension rights For citizens.

Citizen income stabilizes after retirement
Al Hammadi pointed out that the retirement contributions department is one of the most important tasks of the fund, as its success and efficiency directly is related to ensuring the stability of citizens ’income after retirement and achieving financial safety for them and their families in the long term, pointing out that the fund, within the framework of its digital plans, created advanced digital systems to manage the subscriptions efficiently and facilitate the payment process on the work authorities.

Al Hammadi stated that one of the most important systems that the fund has invented – as well as the direct deduction service – to manage retirement subscriptions; The “Smart Subscriptions” system, which provides a comprehensive database for business authorities, and allows the preparation of the initial bill for the monthly subscriptions owed to them without the need to periodically update the data or make an additional effort. Pointing out that the system provides the parties with a joint integrated data platform with the fund, ensuring the accuracy of data and supports decision -making.

Al -Hammadi pointed out the importance of the solutions that the Fund’s work team invented to facilitate the process of paying the contributions, as it contributed to increasing the confidence and quality of partners in the system. She overcame the challenges and obstacles that were facing them, pointing out that digital solutions were not only limited to accelerating procedures, but also contributed to reducing bureaucracy and alleviating administrative burdens from employees in the work agencies, which allowed them to focus on other strategic tasks that raise the efficiency of institutional performance.

Al -Hammadi pointed out the importance of the integration of governmental and private efforts in facilitating procedures for citizens and providing them with a distinguished customer experience, valuing the role of the Emirates Central Bank and Abu Dhabi First Bank for their cooperation with the Fund regarding the facilitation of the application of direct deduction service.

Al -Hammadi stressed the Fund’s continued efforts to invest in technology and commit to continuous development, in line with the directions of the Abu Dhabi government in developing government services and enhancing the experience of customers in a way that enhances the reputation of Abu Dhabi as a leading destination in the field of retirement services.