In accordance with the provisions of Law No. (5) of 2018 regarding social security in Sharjah, the Sharjah Social Security Fund (SSSF) has confirmed that insured employees can benefit from the service of purchasing a notional period as part of its groundbreaking vision to achieve a decent living and provide a comprehensive social protection umbrella.
This service, which allows insured persons to raise the amount of their retirement income after meeting the criterion of completing 20 years of real contribution, is one of the most well-known tools provided by the Fund to broaden the scope of social security. After that, they have the option to buy a notional of service to be added to their real years of service, which raises the pension’s worth when they retire.
The notional period is a time frame that the insured has not really worked throughout but that they can purchase to increase their pension, according to the Fund.
As long as the insured has made 20 years of real contributions to the system and has paid 20% of the contribution account wage for each year they want to buy, this time does not exceed five years for men and 10 years for women.
The notional term service buy offers insured individuals a calculated chance to boost the value of their retirement income, according to Mohammed Obaid Al Shamsi, Director-General of SSSF.
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