In recent weeks, we’ve been exploring how countries across the Gulf Cooperation Council (GCC) are restructuring End-of-Service Benefits (EOSB). We began with Oman last week. Next in the series is the Kingdom of Bahrain and interestingly, Bahrain has been the first in the region to fully switch from the traditional gratuity model to a funded […]
So far, most of our articles have focused on developments around the End-of-Service Benefits (EOSB) in the United Arab Emirates (UAE). But similar reforms have also been progressing across the wider Gulf Cooperation Council (GCC) region. Over the next couple of weeks, we’ll bring you up to speed on what the UAE’s neighbours are doing, […]
Ever since Cabinet Resolution 96 of 2023 introduced the new Alternative End-of-Service Benefits (EOSB) Savings Scheme in October 2023, interest in workplace savings schemes has grown significantly in the United Arab Emirates (UAE). While a few companies are evaluating their options internally, the majority rely on advisors and consultants for guidance. In doing so, companies […]
Time really does fly and it’s hard to believe that Cabinet Resolution No. 96/2023 is already two years old! For our newer readers (and for anyone still getting familiar with it), this regulation introduced the new End-of-Service Benefits (EOSB) Savings Scheme as an alternative to the gratuity system back in October 2023. (We at Pensions […]
Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has signed a Memorandum of Understanding (MoU) with Fidelity International (‘Fidelity’) to work together on a new workplace savings proposition for employers in the UAE. This collaboration brings together Emirates NBD’s deep-rooted knowledge of local markets leveraging the capabilities […]
If you are a parent with a child in a Dubai-based school, you may have received a letter this week about a new survey being conducted by the Knowledge and Human Development Authority (KHDA), the government authority responsible for regulating and overseeing the quality of private education in Dubai. The survey invites all Year 8 […]
As summer draws to close, the UAE’s end-of-service benefits (EOSB) market is gearing up for a very active fourth quarter. Now approaching its second anniversary, the UAE’s EOSB Savings Scheme is gaining momentum, with several new institutions playing a key role in its development. Pensions Monitor recently spoke with Mr. Musa Haddad, Head of Fund […]
On 20 June, Umami Comms DMCC (Umami Comms), a creative communications agency based in Dubai Multi Commodities Centre (DMCC), hosted a financial wellbeing session for its employees. With rising living costs becoming a top-of-mind concern for many UAE residents, Umami Comms’ initiative was indeed timely and thoughtful, to guide employees and give them ways to […]
On 8 May, a select group of HR leaders from major organizations across the UAE convened for an intimate workshop to discuss advancements in End of Service Benefits (EOSB). Hosted by international law firm Stephenson Harwood and global talent solutions firm Robert Walters, the event took place at the vibrant One Life Kitchen and Café […]
On 17 April, HAYAH Insurance (HAYAH) brought together over 50 companies for another “Jalsa by HAYAH” — its signature gathering — that wasn’t just about End-of-Service Benefits (EOSB). This time, the focus was on the UAE’s growing retirement savings gap and the role employers can play in reducing it, with a smart solution like Your […]