DEWS (Dubai Employee Workplace Savings), the first official End-of-Service Benefits (EOSB) Savings Scheme in the Dubai International Financial Center (DIFC), has now been operational for over five years. During this time, employers in the DIFC have been making regular contributions on behalf of their employees into investment funds, chosen by employees. Last week, we at […]
Pensions Monitor rolls out monthly dashboards As of today, the UAE’s official End-of-Service Benefits (EOSB) Savings Scheme includes 11 approved funds and within the Dubai International Financial Center (DIFC), DEWS offers 11 investment options, and GO SAVER adds another 16. With a growing list of options—and more providers expected—we thought it was time for a […]
Lunate, one of the four providers of the mainland End-of-Service Benefits (EOSB) Savings Scheme, recently announced new service partnerships for its EOSB Platform, Ghaf Benefits. The announcement follows the launch of six new funds by Ghaf Benefits, just a month ago. One of the new partnerships is with BNY (Bank of New York Mellon), 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, […]
With Emiratization targets increasing year-on-year for the private sector, HR professionals and employers are considering various options for hiring UAE nationals. One question that was recently raised is whether retired UAE nationals who re-enter the private sector workforce are eligible for the End-of-Service Benefits (EOSB) Savings scheme. While we know that UAE nationals are required […]
31% of UAE employees want retirement savings plans, according to Zurich’s 2024 Future of Work Survey
Zurich Insurance, a prominent insurer in the UAE and administrator of the DIFC Workplace Employees Savings scheme (DEWS), recently released the fourth edition of its annual Future of Work survey. This year’s survey based on feedback from 2,000 employers and 2,000 employees across the UAE (50%), Saudi Arabia (25%), Qatar, and Bahrain reveals the critical […]
Following last week’s announcement that First Abu Dhabi Bank (FAB) received approval from the Ministry of Human Resources and Emiratisation (MoHRE) as a provider of the End-of-Service Benefits (EOSB) Savings scheme, the bank has now published a document on Frequently Asked Questions (FAQ). The FAQ document (available for download below) discloses Deutsche Securities and Services, […]
Sukoon Insurance, one of the UAE’s leading insurers, has recently launched its highly anticipated End-of-Service Benefits (EOSB) Savings scheme, called Go Saver in Dubai International Financial Centre (DIFC). Operated through its wholly-owned subsidiary, Sukoon Workplace Savings Solutions Limited, this plan comes after nearly a year of having completed its licensing process in DIFC in July […]
Following the publication of our previous article on the Financial Performance FY 2023 of Smart Pension Limited (“Smart Pension” or “Company”), Pensions Monitor was contacted by the Company who asked us to provide the readership with additional information on its current performance: The (unaudited) results for H1 2024 have improved significantly: EBITDA (that is: Earnings […]
The company Smart Pension Limited (“Smart Pension” or “Company”) is perhaps not a household name here in the GCC, however, it does play a very important role behind the scene. Smart Pension is the IT administration system that powers DEWS, the End-of-Service Benefits (“EOSB”) savings scheme in Dubai International Financial Center (“DIFC”). This scheme currently […]
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