SHARJAH- H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued Law No. 09 of 2017 concerning the formation of the Sharjah Social Security Fund.
The law defines a civil servant as an individual who works in a government agency, holds the UAE nationality, or is a child of an Emirati mother, and is insured by the fund.
The law stipulates that the headquarters of the Sharjah Social Security Fund shall be located in Sharjah and may establish another office in the rest of the emirate's cities and regions by a decision of the Sharjah Executive Council.
The Fund aims to create a legislative framework that reflects social security and ensures that those who are present have a comfortable and dignified life for themselves and their families. It is responsible for the management of pensions and retirement systems in co-ordination with government agencies and any other entities entrusted with managing their systems for the fund.
According to the law's articles, the fund will be managed by a board of directors composed of a chairman and a number of members, appointed by an Emiri Decree. The boards shall elect a vice-chairman from among its members at its first meeting to replace the president in the event of his or her absence, by consensus or by direct secret ballot. The term of the board of directors membership will be four years from the date of its first meeting and may be extended for a similar period or more, provided the board continues to conduct business at the end of its term until a new board is formed.
The law will be effective from the date of issuance and will be published in the Official Gazette. Any provision contrary to the provisions of this law will be repealed.
Copyright Emirates News Agency (WAM) 2017.
The law defines a civil servant as an individual who works in a government agency, holds the UAE nationality, or is a child of an Emirati mother, and is insured by the fund.
The law stipulates that the headquarters of the Sharjah Social Security Fund shall be located in Sharjah and may establish another office in the rest of the emirate's cities and regions by a decision of the Sharjah Executive Council.
The Fund aims to create a legislative framework that reflects social security and ensures that those who are present have a comfortable and dignified life for themselves and their families. It is responsible for the management of pensions and retirement systems in co-ordination with government agencies and any other entities entrusted with managing their systems for the fund.
According to the law's articles, the fund will be managed by a board of directors composed of a chairman and a number of members, appointed by an Emiri Decree. The boards shall elect a vice-chairman from among its members at its first meeting to replace the president in the event of his or her absence, by consensus or by direct secret ballot. The term of the board of directors membership will be four years from the date of its first meeting and may be extended for a similar period or more, provided the board continues to conduct business at the end of its term until a new board is formed.
The law will be effective from the date of issuance and will be published in the Official Gazette. Any provision contrary to the provisions of this law will be repealed.
Copyright Emirates News Agency (WAM) 2017.
