DOHA: Qatar’s Pension Fund investments have reached QR90bn. The Fund recorded a seven percent growth in total revenues in 2017 compared to the previous year, to the General Retirement and Social Insurance Authority (GRSIA) noted in its annual report for the year 2017.
In an introductory note to the annual report, Minister of Finance H E Ali Shareef Al Emadi said that the state of 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, QNA reported.
The Minister said that 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 authority has taken deliberate measures to enable the pension funds to maintain their investment performance, with a growth rate of six percent in investment revenues compared to 2016, he added.
“Over the past year, pension fund investments have reached QR90bn and annual report of the Authority, where most of them are centred in the country, has also referred to 98.8 percent of the total investment portfolio of the funds, the report said.
The report indicated that the Fund’s insurance revenue was 53 percent versus 47 percent of investment revenue from total fund revenue in 2017, with funds achieving a seven percent growth in total revenues for 2016.
The data shows that the number of active civilian participants reached 68,874 and an increase of 2,391 participants, or 3.6 percent rise from 2016.
Female participant accounted for 52.9 percent of the total number of active participants, working in 371 organisations 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 38 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 are covered by the retirement system is 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 pensioners with 6,977 beneficiaries.
Report’s data shows that the value of the pensions amounted to QR4bn in 2017.
President of the General Retirement and Social Insurance Authority, Turki bin Mohammed Al Khater, commented saying that the strategy of the GRSIA for the period 2018-2022 is to ensure the sustainability of the funds and the achievement of care and decent living for Qatari workers, overcoming challenges and constraints through reform measures and policies that maintain the sustainability of the funds for future generations
