The General Pension and Social Security Authority (GPSSA) has unveiled “Advanced System for Proactive Financial Planning” under the name “Wafra”, as a part of its second cycle of transformational projects.
The aim of this initiative is to enhance financial literacy and planning among individuals under pension laws through the implementation of workshops, training programs and awareness campaigns centering on proactive financial planning, savings, and early investment.
By encouraging participants to engage in training programs and workshops on financial independence beyond reliance on pensions, the project seeks to flourish a culture of proactive savings among pension law members.
The UAE government’s commitment to transformational projects is in line with its vision of adopting innovative government models that enhance national competitiveness. With cutting-edge technology and collaborative efforts, these projects can make significant impacts in various sectors.
Wafra seeks to raise financial planning awareness by 60 percent through training of over 10,000 insured individuals. This will include new contributors, long-term employees, and university students entering the job market. The aim is to quip citizens with skills to manage their finances effectively.
Transformational projects aim to best serve the UAE community and empower individuals by fulfilling the nation’s goal to emerge as a developed, cultural and social hub. Wafra will offer financial awareness workshops and interactive master classes through its agreements with the Abu Dhabi Global Market Academy and the Jahez platform.
This project promotes best practices for financial stability, supported by the Ministry of Human Resources and Emiratisation, the Federal Authority for Government Human Resources, business owners, higher education institutions, and the media.
Wafra, launched in three phases, began its first phase in November 2023 with targeted financial programs. This was followed by awareness programs on savings and investments in January 2024, in coordination with relevant authorities.
