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Early payment of pensions from Abu Dhabi Retirement Pensions & Benefits Fund

United Arab Emirates: Monday, October 16 - 2006 @ 08:58

A move that comes as a result of guidance from His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE; directions from His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, Chairman of Abu Dhabi Executive Council, and instructions from His Highness Sheikh Mohammed bin Khalifa bin Zayed Al Nahyan, Chairman of Abu Dhabi Retirement Pensions and Benefits Fund.

Accordingly, funds have been transferred in respect of monthly pensions on Sunday, October 15, 2006 to the National Bank of Abu Dhabi (NBAD), the Fund’s bank, which in turn will credit pensioners’ bank accounts throughout the UAE by Thursday, October 19, 2006, well in advance of Eid.

Commenting on this news, Mubarak Rashed Al Mansouri, the Fund’s Director General said: “Firstly, I would like to congratulate the leadership and people of our beloved country, the UAE on the approaching Eid, an occasion that the Fund’s management saw as an opportunity to benefit more than 6,000 UAE pensioners and their families through the early payment of their pensions in considerations of Eid.”

It is noteworthy that this is a one-time early payment only in light of Eid following which the Fund payment cycle will return to its norm of making pension payments at the end of every calendar month.

The Abu Dhabi Retirement Pensions & Benefits Fund (Fund) was established pursuant to Law No. 2 of year 2000, with a vision to become a leading regional provider of civil retirement pensions and benefits for UAE nationals employed in the government, semi-government and private sectors. The Fund’s mission is to offer UAE nationals who have worked in Abu Dhabi – or for entities incorporated in Abu Dhabi but operating in other Emirates – a secure future and a stable retirement through the sound management and investment of future pensions and retirement benefits in a client-focused and a cost-effective environment.

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Monday, October 16- 2006 @ 8:58 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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