E-link to request housing loans repayment exemption for low-income pensioners
ABU DHABI, (Pakistan Point News - 17th Jun, 2020) Abu Dhabi Pension Fund and Abu Dhabi Housing Authority have announced the mutual completion of an electronic link that provides the service of submitting the repayment exemption applications from housing loans for low income pensioner citizens who are registered with the fund.
This move comes within the efforts and joint cooperation between the two parties to ensure facilitating the transactions that require mutual effort to provide the best level of integrated government services to customers.
Accordingly, after activating the electronic link between Abu Dhabi Pension Fund and Abu Dhabi Housing Authority, pensioners who wish to obtain a housing loan repayment exemption will not have to bear the burden of applying directly to the Authority, as the Fund will ‘automatically’ submit the application on their behalf, once the active member is retired with maximum pension of AED20,000 According to the new mechanism, the fund will periodically calculate all the new pensioners whose maximum pensions are AED 20,000, and then provide Abu Dhabi Housing Authority with all the pensioner data through the electronic link, who will in turn study the procedures of his/her entitlement to housing loan repayment exemption directly.
The authority will then examine the applications to indicate the extent of the pensioner entitlement according to the defined conditions by Abu Dhabi Housing Authority.
Khalaf Abdullah Rahmah Al Hammadi, Director-General of the Abu Dhabi Pension Fund, said that the move aims to provide the best services to pensioners to support their needs and aspirations, raise their satisfaction level, and alleviate the social and financial burdens of low-income national families.
Al Hammadi pointed out that the current mechanism depends on pensioner's personal action by heading to the Abu Dhabi Housing Authority and submitting the repayment exemption application with all the necessary documents, including the ID card and the certificate of retirement referral.
However, according to the new mechanism, the fund will automatically submit the repayment exemption application on behalf of the pensioner by providing the authority with the necessary documents through the electronic link of data and information between the two parties, which saves the effort and time of the pensioner.
In turn, Bashir Khalfan Al Muhairbi, Director-General of the Abu Dhabi Housing Authority, said that the service allows the citizen to be exempted from repaying the loan amount or what remains of it when becoming a pensioner in accordance with the relevant legislations, and after studying the financial solvency of the citizen.