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 […]
This article has been guest-authored by Ruan van Rensburg, consulting actuary and founder of Lux Actuaries. 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. This article has been drafted as the first of a series that touches on the key issues that need […]
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 […]
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 […]