Sharjah Social Security Fund confirmed that Law No. 5 of 2018 on social security in the Emirate of Sharjah allows the insured to purchase notional service years for the purpose of improving the retirement pension. The notional service years are non-actual service periods that the insured did not spend working but can purchase to increase the retirement pension, provided that the insured has completed a subscription period of no less than 20 years. The period to be purchased should not exceed 5 years for male insured and 10 years for female insured, with the insured bearing 20% of the subscription salary for the period to be purchased.
The fund explained that the insured can pay the costs of the purchased period either in a lump sum of no less than 50% of the total costs or in installments, provided that the installment period does not exceed the age of 55 for female insured and 60 for male insured. In all cases, the full costs of the purchase must be paid before the end of service.
These efforts are part of the Sharjah Social Security Fund’s vision to establish its role in providing comprehensive and innovative services based on the Social Security Law, which contribute to improving the quality of life for the insured and their families and enhancing social care in accordance with the requirements of providing a decent living.
Sharjah Social Security Fund confirmed that Law No. 5 of 2018 on social security in the Emirate of Sharjah allows the insured to purchase notional service years for the purpose of improving the retirement pension. The notional service years are non-actual service periods that the insured did not spend working but can purchase to increase the retirement pension, provided that the insured has completed a subscription period of no less than 20 years. The period to be purchased should not exceed 5 years for male insured and 10 years for female insured, with the insured bearing 20% of the subscription salary for the period to be purchased.
The fund explained that the insured can pay the costs of the purchased period either in a lump sum of no less than 50% of the total costs or in installments, provided that the installment period does not exceed the age of 55 for female insured and 60 for male insured. In all cases, the full costs of the purchase must be paid before the end of service.
These efforts are part of the Sharjah Social Security Fund’s vision to establish its role in providing comprehensive and innovative services based on the Social Security Law, which contribute to improving the quality of life for the insured and their families and enhancing social care in accordance with the requirements of providing a decent living.
