laws

The given laws pertain to Abu Dhabi and specifically focus on the inclusion of self-employed workers under Abu Dhabi Law No. 2/2000 on Civil Retirement Pensions and Bonuses. The laws provide definitions for terms such as Fund, Law, Board, National, Self-Employed Worker, and Insured. The provisions of the laws apply optionally to nationals who meet certain conditions, including not being subject to the Law in any other capacity and being medically fit to practice their activity or profession. The laws also state that retirees from the Fund may participate as self-employed workers. Certain categories are exempted from the provisions, such as those already subject to other retirement laws or pensioners benefiting from other pension funds. The laws outline the process for determining the monthly income bracket for participation, based on income generated by the activity. The maximum monthly income bracket for new self-employed workers is set at AED 100,000 if they were not participating before December 1, 2023, and AED 150,000 if they were participating before that date. The laws also allow for an increase in salary for retirement contribution purposes, up to 15% every two years, provided certain conditions are met. The insured may also request to add previous service periods to their participation period, up to a maximum of 100% of the qualifying period for retirement pension entitlement. However, this can only be done after at least one year of participation in the Fund. The laws outline circumstances under which the insured's participation in the Fund may be suspended, such as at their request, official closing or suspension of activity, joining work with another employer registered with the Fund, or failure to pay contributions for six months. In case of suspension, the end of service transaction is considered as an application for "non-disbursement for the purpose of addition," unless the insured requests the disbursement of retirement benefits or pension. The laws state that self-employed insured workers will be treated similarly to those in the private sector, and any matters not specifically regulated under these laws will be governed by the provisions of the Law. Any conflicting provisions are abrogated, and the laws came into force on December 1, 2023.