Expat Employees In Dubai’s Public Sector Can Now Join A New Savings Pension Plan
The Executive Council of Dubai, headed by Dubai’s Crown Prince His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum recently approved of a savings scheme that’s been launched for expats employed by the Government of Dubai, in a first of its kind initiative in the region.
Apart from being aimed to enhance the end-of-service benefits system for Dubai government staff, the initiative looks to safeguard Dubai’s position as a career hotspot with a system that offers employees opportunities to grow their benefits and savings for the future.
The Savings Scheme will provide employees with a number of financial perks, most significantly the opportunity to save across different financial portfolios.
This scheme could soon be extended to Dubai’s private-sector workers as well but on a voluntary basis
It’s noteworthy, that Dubai workers who do not wish to invest their benefits will be provided with alternative options that ensure capital protection.
Today I approved the ‘Savings Scheme for Foreign Employees in the Govt of Dubai’ at a @TECofDubai meeting. The first of its kind in the region, the Scheme will enhance govt staff’s end-of-service benefits. We are looking at extending the Scheme to private sector employees as well pic.twitter.com/m9O1SKywCn
— Hamdan bin Mohammed (@HamdanMohammed) March 2, 2022
