During the last quarter of 2024, the Dubai International Financial Center (DIFC) approved a second workplace savings plan for End-of-Service Benefits (EOSB): GO SAVER administered by Sukoon Workplace Savings. Up until then, companies in the DIFC had only one option – DEWS administered by Zurich Workplace Solutions – which had been the mandatory workplace savings plan […]
Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has signed a Memorandum of Understanding (MoU) with Fidelity International (‘Fidelity’) to work together on a new workplace savings proposition for employers in the UAE. This collaboration brings together Emirates NBD’s deep-rooted knowledge of local markets leveraging the capabilities […]
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 […]
Hardly a day goes by without seeing an internet or newspaper ad promoting the UAE Golden Visa. For those who have somehow missed the buzz, here’s a quick overview of what the Golden Visa is all about: The UAE Golden Visa is a long-term residence visa program designed to attract and retain foreign talent, investors, […]
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 […]
Over the past few weeks, a series of updates have shown that the UAE’s End-of-Service Benefits (EOSB) savings market is heating up. Some fund managers are now in advanced stages of integration with federal data systems to speed up employer onboarding and automate monthly HR processes, with FAB among those that have already completed the […]
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 […]
As we approach the second anniversary of Cabinet Resolution 96/2023 that introduced the alternative End-of-Service Benefits (EOSB) Savings Scheme, a question looms for companies that already offer some form of private pension or savings plans: Is it possible to get an exemption from this national scheme once it becomes compulsory? To be clear: As of […]
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 […]