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 […]
Dear Ministerial Cabinet Resolution 96, Sorry, we’re a month late for your first birthday which was on 24 October 2024 but we’re here to wish you a very happy belated birthday! May your journey continue with success, growth, and greater achievements in the years ahead. We are taking this opportunity to reflect on your first […]
As the spooky season is upon us, we at Pensions Monitor thought we’d embrace the theme and ask ourselves the question: What are the nightmare scenarios for HR managers regarding the new End-of-Service Benefits Savings scheme? And so, we have outlined a number of “spooky nightmare” scenarios that may keep HR managers awake at night. […]
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, […]
Mercer, the global consulting firm specializing in employee benefits and investment solutions, recently released the 16th edition of the Global Pensions Index Report 2024 (the ‘Report’) in collaboration with the CFA Institute. The Report highlights that many countries are facing challenges related to aging populations, characterized by increasing life expectancies and declining fertility rates leading […]
The Ministry of Human Resources and Emiratisation (MOHRE) has officially approved First Abu Dhabi Bank (FAB) as a new provider for the alternative End-of-Service Benefits (EOSB) Savings scheme based on MOHRE’s website listing sited on 17 October 2024. This approval marks FAB as the fourth approved provider since the scheme’s introduction vide Cabinet Resolution 96/2023 […]
Since the introduction of Cabinet Resolution 96 a year ago, there is much debate within the industry on when exactly this new scheme will become compulsory. This change will be significant for the UAE, as it will affect every single company and every single employee – and let’s remind ourselves that there are over 788,000 […]
The Securities and Commodities Authority (SCA) has approved the first three End-of-Service Benefits (EOSB) Savings funds as per the listing on its website sited on 10 October 2024. This approval marks a pivotal step in the implementation of the EOSB Savings scheme in the United Arab Emirates as per Cabinet Resolution 96/2023 that makes three […]