(MENAFN- Khaleej Times) Abu Dhabi - Services delivered to pensioners in Abu Dhabi are the best in the world. A survey carried out at an international level found an eight degree climb in the service rate from 2011-2013.
Abu Dhabi Retirement Pensions and Benefits Fund witnessed an eight degree increase in service rate, according to CEM Benchmarking under the title 'Defined Benefit Administration Benchmarking Analysis' report for the fiscal year 2013.
Among the 73 leading global pension systems that participated, Abu Dhabi Pensions Fund was the only one to have taken part in this research from the UAE and the Middle East. The Abu Dhabi Pensions Fund has scored 100 per cent in service levels, which also takes into account the criteria of pension remittances on time.
According to performance indicators developed by the Abu Dhabi Pensions Fund, remittances are measured so as not to exceed 24 days sfter completing the retirement documents. This will provide a fixed income to citizens during the transition period from work to retirement.
For the front office transactions, the Abu Dhabi Pensions Fund scored 258 per cent higher than other pension funds, especially with regard to one-on-one member counselling.
Disaster recovery, that is, the preparedness to plan for unexpected events and disasters is one of the key factors that determine the functionality of a pension entity. Abu Dhabi Pensions Fund scored 96 out of 100 for disaster recovery, which was above the peers' median of 94.
On the operational level, the cost per member decreased by an average of 4.9 per cent per annum between 2011 and 2013. The major cost reduction per member is in large part a result of the Pension Fund's growing number of active members and the rationalisation of expenditures.
The comparison also helped support decision-making by recognising the ways in which global institutions invest their funds in areas such as personnel, technologies and services, and how they manage their expenditure through various factors that influence investment and support the needs of both human resources and infrastructure.
The comparison also played a great role in identifying goals, improving performance standards by managing the performance frameworks, setting measurable targets and studying the impact of changes to the operations of the Abu Dhabi Pensions Fund. "We are not satisfied with external comparisons only. Internally, we measure performance at the operational and strategic levels. The 300 internal performance indicators are reviewed on a monthly basis at a meeting of heads of departments and senior management," said Khalaf Abdullah Rahma Al Hammadi, director general, Abu Dhabi Retirement Pensions and Benefits Fund.
He said the report highlights the final outcome of the 130 performance index checks, including services, transactions and interpersonal communication with pensioners, and measures the quality of overall performance.
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