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 […]
Yes, it’s that time of the year again: The 2026 budget awaits! It’s the time when Finance is crunching numbers, and every department (HR included) needs to formulate, quantify and justify their plans, projects and costs. Given that it is “budget season”, we would like to ask HR Managers: Have you included End-of-Service Benefits (EOSB) […]
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 […]
By now most HR professionals are aware of the UAE’s new End of Service Benefits (EOSB) Savings Scheme that was introduced in 2023. Sure, it’s voluntary today but it’s widely expected to become compulsory in the future. In short: Get ready to say goodbye to the current gratuity system and hello to an investment-based scheme! […]
The UAE’s EOSB system is set to change The UAE introduced a new EOSB Savings Scheme that will soon replace the current gratuity system. Most HR and Finance teams know this change is coming but have not started preparing yet. Many are still asking questions: Is the new savings scheme better for companies? for employees? Is […]
Last year, we wrote about Aurem as one of three early-stage startups vying for a place in the UAE’s workplace savings market. Today, Aurem has become the first digital platform for End-of-Service Benefits (EOSB) savings to have successfully integrated with MOHRE (Ministry of Human Resources and Emiratisation). Who is Aurem, and why is this integration […]
With the UAE’s new End-of-Service Benefits (EOSB) Savings Scheme now in motion, employers have a timely opportunity to rethink their employee benefits strategy. At its core, the scheme replaces the traditional gratuity model with a regulated, investment-based approach. These licensed EOSB investment funds are designed to ensure that employee savings are not only protected but […]
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 […]
Today’s article is authored by Ruan van Rensburg, CEO of Lux Actuaries Financial Consulting. The AUM model referenced in this article can be obtained from Nisha Braganza, Editor-in-Chief of Pensions Monitor. Please email Nisha at nisha@pensionsmonitor.com to request for the same. Background A recent special report by the European Court of Auditors on Developing Supplementary […]
Is your company thinking of shifting from traditional End-of-Service Benefits (EOSB) gratuity to a structured savings scheme? If you’re unsure, you’re not alone. For those who are new to the topic The UAE EOSB Savings Scheme was introduced by Cabinet Resolution 96 of 2023. To date, there are four approved fund managers with more expected […]