Wednesday 4 January 2012

Abu Dhabi to pay for UAE pension hike

The emirate of Abu Dhabi will pay the cost of the United Arab Emirates' decision to hike minimum pensions of former military and federal government employees to 10,000 dirhams ($2,700) per month, a senior government official was quoted as saying on Wednesday.

The number of beneficiaries of the hike, granted by President Sheikh Khalifa bin Zayed Al-Nahayan on Monday, will exceed 7,000, Younis Al-Khouri, undersecretary and director general at the UAE finance ministry, told Arabic language daily Al-Bayan.

Al-Khouri also said the total cost of the hike would be paid by the emirate of Abu Dhabi, adding that the Ministry of Finance would implement the increase effective from the end of January.

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