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The number of retirees exempt from Abu Dhabi Securities Market discounts decreases by 20% within three years – Executive Summary

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The implementation of a new rule in 2021, with the aim of reducing the number of retirees exempt from ADSE deductions, led to a decrease in the number of retirees in this case by 20% within three years.

The 2023 activity report highlights that the largest decline occurred last year, with a decline of 17.6%. This measure has greatly affected the group of exempt retirees, who earned up to the national minimum wage before the new rule, Negócios reveals.

Before this rule was implemented, retirees whose income reached the national minimum wage were exempt from cuts. But the 2021 decree set a new limit on the exemption at 635 euros, regardless of pension increases. This change led to a continuous decrease in the number of exempt beneficiaries, as it decreased from 67,693 at the end of 2020 to 54,018 at the end of 2023. The report confirms that 89% of exempt beneficiaries are over 65 years old, while 11% are between the ages of 45 and 64. years. old.

In financial terms, the value of exemptions also decreased, but less significantly, falling by 14% to 13.7 million euros. The Abu Dhabi Securities Market Supervisory Authority, which includes representatives of the beneficiaries, requested that these amounts be covered from the state budget, as a social policy.

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