Education award winners honoured


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ABU DHABI // The 35 winners of the eighth annual Khalifa Award for Education will be honoured in a ceremony at Emirates Palace Hotel in the capital on April 14.

Juma Al Majid, chairman of the Juma Al Majid Centre for Culture and Heritage, was named Educational Personality of the Year in recognition of his educational and cultural achievements, state news agency Wam reported.

An active member of many Arab and international cultural foundations, including the Arab Thought Foundation in Beirut and the advisory committee of the Centre for Middle Eastern Studies at Harvard University, Mr Al Majid has established schools, colleges and charities.

Amal Al Afifi, the award’s secretary general, said the winners were chosen from 500 applicants – including 304 from the UAE and 196 from the Arab world – entered in one of 11 categories. Mrs Al Afifi said 26 of the winners were from the UAE.

The 2014-2015 edition of the award was launched under the theme “Distinguish Yourself, You Deserve Honour”.

The award aims to promote the education sector in the UAE and the Arab world by encouraging and motivating creative and outstanding individuals working in the field through recognition.

The Khalifa Award’s goals include highlighting and supporting the status of those working in all educational fields, contributing in providing a modern educational environment that encourages innovation, stimulating UAE citizens to aspire to become teachers, and encouraging talented educators to design and apply educational projects and programmes.

The award is also intended to help strengthen the linguistic identity of the UAE by adopting Arabic as the official language.

newsdesk@thenational.ae

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The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.