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QNA
Doha
Qatar is proceeding with the development of investment policies to achieve the highest growth rates of pension funds, taking into account the risks that they can face in the medium and long term, Minister of Finance HE Ali Shareef al Emadi has said.
In his statement, which topped the annual report of the General Retirement and Social Insurance Authority (GRSIA) for the year 2017, Emadi said the investment policies are developed in accordance with extensive technical studies, which enhances the ability of the authority to continue to provide the best returns to investors and their families.
The GRSIA has taken deliberate measures to enable the pension funds to maintain their investment performance, with a growth rate of 6 percent in investment revenues compared to 2016, the minister said.
Over the past year, pension fund investments have reached QR90 billion, according to annual GRSIA report.
The report indicated that pension fund revenues reached 53 percent against 47 percent of investment revenue from total fund revenue in 2017, with funds achieving a 7 percent growth in total revenues for 2016.
The data show that the number of active civilian participants reached 68,874, an increase of 2,391 participant, or 3.6 percent from 2016.
According to the report, female participation accounted for 52.9 percent of the total number of active participants, working in 371 organisations and subject to retirement and social insurance system, of them 80 percent work in the governmental sector.
The report noted that 76.3 percent of the Qatari nationals working in the GCC and covered by the retirement system are in the government sector.
Meanwhile, the number of GCC nationals working in Qatar and covered by the retirement system reached 2,377 citizens, most of whom (56.8 percent) are working in the government sector.
According to the report, the total number of pensioners reached 15,119, including 12,861 living pensioners, and 2,258 deceased with 6,977 beneficiaries. The value of the pensions amounted to QR4 billion in 2017.
GRSIA President Turki bin Mohammed al Khater said the strategy of the authority for the period 2018-2022 is to ensure the sustainability of the funds and overcome challenges and constraints through reform measures and policies that maintain the sustainability of the funds for future generations.
