ABU DHABI - The General Pension and Social Security Authority (GPSSA) has introduced the "Advanced System for Proactive Financial Planning," known as "Wafra," as part of its latest series of transformative projects.
The initiative is designed to boost financial literacy among pension law participants through a range of training programs, workshops, and awareness campaigns that emphasize proactive financial planning, savings, and early investment.
"Wafra" aims to cultivate a culture of proactive savings among pension members, motivating them to partake in educational activities that promote financial independence beyond pension reliance.
Aligned with the UAE government's commitment to innovative governmental models and national competitiveness, these transformative projects leverage advanced technology and strategic partnerships to make significant impacts across various sectors.
The initiative includes collaborations with the Abu Dhabi Global Market Academy and the Jahez platform to offer financial awareness workshops and interactive master classes. The goal is to prepare government talent for future challenges and enhance global competitiveness.
"Wafra" aims to improve financial planning awareness by 60% by training over 10,000 insured individuals, including new contributors, long-term employees, and university students entering the workforce. This will equip citizens with vital skills for managing their finances effectively.
Supported by the Ministry of Human Resources and Emiratisation, the Federal Authority for Government Human Resources, business owners, higher education institutions, and the media, the program promotes best practices for financial stability.
Launched in three phases, "Wafra" began in November 2023 with focused financial planning programs, followed by savings and investment awareness initiatives starting in January 2024, in coordination with relevant authorities.
