Stephenson Harwood and Pensions Monitor, in partnership with DMCC (Dubai Multi Commodities Centre), recently hosted an informative session for its members to build awareness around the UAE’s new End-of-Service Benefits (EOSB) Savings Scheme. Held on April 10 at the DMCC Uptown Dubai Business Centre, the session provided valuable practical guidance for employers on transitioning from […]
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 […]
We at Pensions Monitor are thrifty spenders – we avoid getting into debt, and if we do, it’s only for capital purchases such as a house. Humour aside, looking around the UAE, it’s clear to see that consumption is a key driving factor – for the economy as a whole, and for individuals too. Live […]
There’s been a lot of talk about End-of-Service Benefits (EOSB) in the United Arab Emirates (UAE) over the past year. For expatriates in the UAE—who make up about 90% of the workforce—EOSB is one of the most important employee benefits. This lump sum payment is provided at the end of each employment, whether through resignation […]
Assessing the outlook for the UAE’s End-of-Service Benefits In an exclusive interview with Pensions Monitor last week, it is clear that market sentiment is buoyant and the Securities and Commodities Authority (SCA) is positive that the End-of-Service Benefits (EOSB) market segment will see a further increase in activity in 2025. EOSB local fund managers continue […]
Apart from the two DIFC workplace savings plans (DEWS, GO SAVER) and the newly introduced End-of-Service Benefits (EOSB) Savings Scheme under Cabinet Resolution 96/2023 – let’s call these the “official schemes” – there are a number of other savings schemes on the market that are “voluntary”. Today, we shine a light on these other “voluntary” […]
Ras Al Khaimah Economic Zone (RAKEZ) has entered into a strategic partnership with PraxisIFM Trust Limited (Praxis), an established provider of pension solutions, and fintech company Equevu Ltd (Equevu), to introduce the Middle East Workplace Savings Scheme (MEWSS) to its business community. The memorandum of understanding (MOU), reportedly signed last week, aims to encourage the […]
Over a year since its introduction, the new End-of-Service Benefits (EOSB) Savings scheme has officially enrolled its first clients. Among the early adopters is BSA LAW (BSA), a prominent advocacy and legal consultancy firm in the UAE, which has announced its participation in the scheme by partnering with Daman Investments to manage its employees’ savings fund. […]
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 […]