While pointing out that it offers automated and flexible payment methods that don't require any time or effort from the employer, the Abu Dhabi Retirement Fund confirmed that paying retirement contributions on time by employers protects citizens' rights and prevents them from paying additional amounts resulting from any delay in payment.
The Fund emphasised that employers bear the responsibility of making retirement contributions to the Fund on behalf of the insured, even during different vacation periods or when the insured is not present at work. However, the employers retain the right to pursue legal action against the insured for the amounts paid on the insured's behalf.
The Fund stipulated that employers must pay contributions beginning on the first day of the month after the month for which they are due. Employers may choose to extend the payment period until the twentieth day of the following month, but contributions are non-refundable. The Fund emphasised that employers who fail to pay contributions on time will be assessed an additional ten percent (0.1%) of the total amount owed for each day of late payment, without prior warning or notification.
He emphasised that the insured's commitment to making monthly contributions protects both his and his family's rights to the insurance benefits offered by the fund. He called on all insureds, particularly those employed by private sector companies, to confirm that their employers regularly make contributions on their behalf using the insured's data panel on the (Tamm) platform, emphasising the necessity for employers to make these payments to the Fund on the designated dates.
The Fund also emphasised that employers must regularly update subscriptions and variable data, as well as the contact details of the staff members who are in charge of liaising with the Fund on behalf of the employer, known as "liaison officers and system users," via the Fund's website.
