6 Mar 2022
A new saving scheme was introduced for Expat Employees of the Dubai Government after the DIFC Employee Workplace Savings was successfully implemented.
The Scheme was created to enhance the end-of-service benefits system for Foreign Dubai Government staff.
The Scheme provides employees with several financial benefits, most importantly, saving across different financial channels.
Employees will be able to choose multiple investment structures including traditional investment funds, and others types of investments.
This Savings Scheme was confirmed after the Dubai International Financial Centre successfully implemented the DEWS scheme for their employees in 2020.
The DIFC Employee Workplace Savings (also known as DEWS) is helping to build a saving pot for employees, it is also being a replacement for the traditional end of service gratuity.
DEWS has been set up to offer all employees a workplace savings plan that cost-effectively delivers great value. It is run by an independent Trust Company.
Should you have any questions regarding the announced changes, please do not hesitate to contact us. We will provide updates on this matter when more information becomes available.
This article is based on publicly available information and given for informational purposes only. It is not intended as legal advice or as a comprehensive analysis of the matters referred to herein.