Retirement authority widening insurance umbrella for Qataris

Submitted by dfabbri on Thu, 12/13/2018 - 10:34
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gulf-times (12.12.2018) Since its establishment in 2002, the General Retirement and Social Insurance Authority worked on being a safe haven for Qatari citizens, as well as on supporting the 2030 National Vision and other national development strategies.  The authority is also looking to reach the highest levels of efficiency, and the most prestigious status among its peers, reflecting the values of the Qatari society in terms of respecting privacy and enjoying its prosperity

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Since its establishment in 2002, the General Retirement and Social Insurance Authority worked on being a safe haven for Qatari citizens, as well as on supporting the 2030 National Vision and other national development strategies. 
The authority is also looking to reach the highest levels of efficiency, and the most prestigious status among its peers, reflecting the values of the Qatari society in terms of respecting privacy and enjoying its prosperity. 
The General Retirement Authority is looking to expand the insurance umbrella to cover all citizens whether they work in ministries, authorities, institutions, or private companies. The aim from that is to encourage Qataris to find employment in the private sector. The total number of entities covered by insurance in accordance to law No 24 of 2002 approached 367, 35% of which were joint-stock companies. 
The authority also placed a new strategy for the 2018-2022 period, in line with the second national development strategy of the state. The new strategy has four main goals. The first goal of those is ensuring the sustainability of the established funds. The second is ensuring an honourable standard of living for Qatari workers. The second goal has already seen the authority prepare a plan of operations. 
The authority supports its mission today with a series of initiatives, that are a testimony to its accomplishment and its promising future for generations capable of serving the country. To continue progressing, the authority remains focused on improving its operations at the institutional level and developing its human resources. Retirement and Social Insurance Authority in that regard has conducted a number of plans to help it on its way.
 One of those initiatives was measuring the employee satisfaction level, and general satisfaction levels for its services in order to have indicators it can work with.
It also helped promote social responsibility that saw it sign agreements with many companies to provide deals for its retirees. Some of those deals reached 70% discounts for the retirees. The number of companies signing those deals reached 111. The authority also participated in social events such as Garangao, and World No Tobacco Day. 
The authority also held a number of workshops on how individuals and families should manage their finances. They also organised a number of workshops in co-ordination with Qatar Exchange to raise awareness among the elderly on all topics related to investing. 
As for regional and international efforts, the authority participated in 2018 in a conference in Kuwait that discussed how to ensure the sustainability of the GCC retirees’ funds. 
This took place from November 6-8. It then participated in the GCC technical committee’s meeting on the same subject, that took place in Kuwait from September 4-6. Just two days prior to that date in the same city, it participated in a meeting that focused on examining ways to reform retirees’ funds in the GCC. 
The authority also participated in the International Social Security Association meeting that took place in Rabat on April 18 to 20. 
The meeting discussed how developments in information technology can be used to deliver better social security services. According to the authority’s statistics, the total number of pensioners reached 16,237, an increase of 1,118 retirees, 7% from December 2017, while the number of deceased pensioners was 7,372. Pensions paid to the owners since the beginning of the year amounted to QR 3.6bn. 
Discontinuations for retirees due to terminating the job recorded the highest rate of 27.9% of all reasons behind retiring, 18.6% of the resignations, and termination of work due to disability due to or during work less 0.1%. 
On the other hand, the number of active civilian subscribers reached 71,074, an increase of 2,200 participants, with a growth rate of 3% compared to October 2017. The females accounted for 53.6% of the total number of males who are working in 367 bodies subject to the provisions of the Pensions and Pensions Law, and the government sector by 81%.
The total number of Gulf workers working in Qatar according to the latest approved statement, and covered by the system of extending insurance protection about 2342 Gulf, 68% of them working in the government sector. 
On domestic investments, data showed last September that a total of 98% of the SR100 bn pension fund portfolio is in-house investments in order to stimulate the growth of economic sectors to add value to the country’s GDP. Insurance revenues represent 51%, compared to 49% of total fund revenues in October 2018. 
The Authority is currently looking to develop its investment policy to reach higher growth rates, taking into account the risks it may face in the medium- and long-term. 
This will be done in accordance to extensive technical studies, which will enhance its ability to continue providing the best returns to the beneficiaries and their families. 
As for the development of its human resources, the Authority attaches great importance to training, as it considers it a key way to enhance the skills of its workers. It regularly assigns its staff to a wide-range of courses, programmes and conferences related to its field of work. The number of employees enrolled this year was146, 61% of the authority’s total workforce. The authority organised a training programme for the new employees to help them understand the legislative framework they work within, among other subjects. 
The Authority continues with its human capital development efforts. It aims to Qatarise a 100% of its available jobs. The current level exceeds 77%. The number of workers at the authority grew this year 3% to reach 239, 59.8% of which are women. 
In the field of information technology, the Authority has completed 14 different projects, namely: the development and updating of the website, in line with the e-government strategy, and the process of development and modernisation, which the Authority has always followed.
The website enables users to access the authority’s wide-range of digital services. The website consists of two portals, the first dedicated to the employers, the second targeted to individuals, in addition to the application of smart mobile phone.
The first portal has 19 services, including: monthly subscription file upload, modification and maintenance of file data, new subscriber registration, modification and maintenance of subscriber data, deletion of subscription register, consolidation and purchase of service terminations, termination of subscriber service, submission of payment notices. 
It also includes inquiries about Qatari and Gulf subscribers’ data, as well as querying all applications and other services. The second portal is dedicated to users and allows them to ask questions if they have any, file-in applications and requests among other services. 
Other activities saw the authority provide legal counselling to its various units on the preparation of contracts, resolutions, circulars and follow-up to the 79 disputes of which it is a party. More than 14,268 services provided, including the issuance of 13,930 certificates, and the receipt of 338 different service requests. 
The Authority is committed to realising the Vision 2030, by adopting a clear strategy for the period 2018-2022, with a view to sustainable insurance systems and improve the quality of service provided to the public.