Apart from the two DIFC workplace savings plans (DEWS, GO SAVER) and the newly introduced End-of-Service Benefits (EOSB) Savings Scheme under Cabinet Resolution 96/2023 – let’s call these the “official schemes” – there are a number of other savings schemes on the market that are “voluntary”. Today, we shine a light on these other “voluntary” […]
Ras Al Khaimah Economic Zone (RAKEZ) has entered into a strategic partnership with PraxisIFM Trust Limited (Praxis), an established provider of pension solutions, and fintech company Equevu Ltd (Equevu), to introduce the Middle East Workplace Savings Scheme (MEWSS) to its business community. The memorandum of understanding (MOU), reportedly signed last week, aims to encourage the […]
Over a year since its introduction, the new End-of-Service Benefits (EOSB) Savings scheme has officially enrolled its first clients. Among the early adopters is BSA LAW (BSA), a prominent advocacy and legal consultancy firm in the UAE, which has announced its participation in the scheme by partnering with Daman Investments to manage its employees’ savings fund. […]
Lunate Capital LLC (‘Lunate’), one of the four approved providers for the UAE’s End-of-Service Benefits (EOSB) Savings Scheme, recently announced the launch of its EOSB Savings plan, branded as Ghaf Benefits. Ghaf Benefits, is named after the drought-tolerant Ghaf tree which is also the national tree of the UAE and is a registered trademark for […]
The Registration Authority (RA) of the international financial centre of Abu Dhabi – ADGM (Abu Dhabi Global Market) has published new employment regulations (the Employment Regulations 2024) which reflect global changes in workplace practices. The new rules (available for download below) will come into effect on 1st April 2025, thereby granting employers sufficient time to align their internal […]
Sukoon Workplace Savings unveils GO SAVER fund offerings: A new EOSB Savings Plan for DIFC employees
GO SAVER, a new End-of-Service Benefits (EOSB) Savings plan for employees of the Dubai International Financial Center (DIFC or freezone) was officially launched on 28 January 2025, at the prestigious Waldorf Astoria, DIFC following its successful pilot phase in the last quarter of 2024. This launch marks an important development for DIFC, where DEWS (DIFC […]
First Abu Dhabi Bank (FAB), the UAE’s largest bank by assets, has officially partnered with FinTech firm Aurem to provide the IT platform for its End-of-Service Benefits (EOSB) Savings Plan, as per information disclosed on the bank’s website, cited on 20 January 2025. This announcement follows the earlier update from October 2024, which disclosed the […]
By now, many readers will be familiar with the new End-of-Service (EOS) Saving scheme that has been introduced. And of course, we all know how the current EOS Gratuity system works. As more and more HR professionals, company managers, financial services professionals and employees are familiarizing themselves with the new scheme, many will ask: So, […]
Happy New Year! We hope all our readers enjoyed the holiday season. As we kick off 2025, we at Pensions Monitor have taken a moment to gaze into our crystal ball and see what lies ahead for the End of Service Benefits (EOSB) Savings market. Here are our top five predictions for the year: Prediction […]
This article has been guest-authored by Ruan van Rensburg, consulting actuary and founder of Lux Actuaries and Consultants. The UAE’s introduction of the voluntary End-of-Service Benefits (EOSB) Savings scheme presents companies with crucial decisions regarding their end-of-service benefits. Last week’s article commented on the implications of the new scheme for Employees. This article lays out […]