Dubai: All expats working for govt must enrol in savings scheme from July 1

All employees will be able to make voluntary contributions to Dubai International Financial Centre Employee Workplace Savings



by

Waheed Abbas

Published: Mon 27 Jun 2022, 10:51 AM

Last updated: Mon 27 Jun 2022, 10:38 PM

Barring a few categories, all expat employees working in the Dubai government will have to be enrolled into the saving scheme DEWS by their employers, said a senior official.

The scheme was conceptualised after the Dubai International Financial Centre Employee Workplace Savings (DEWS) plan and the enrolment of employees will take place in phases, starting July 1, 2022.

“All government employees are required to be enrolled into DEWS by their government employer – save for certain exemptions as outlined within the legislation, including UAE nationals,” said Jacques Visser, Chief Legal Officer of DIFC Authority.

Launched in March 2022, the scheme targets expatriates in Dubai government entities in the first stage, with the scope of expanding its implementation in later stages. It’s aimed at attracting and retaining talent by providing an integrated system that offers various savings opportunities.

ALSO READ:

He said the benefits paid into DEWS are a replacement of the existing end-of-service gratuity regime and still constitute a benefit payable to the employee by the employer, therefore there will be no automatic deductions from an employee’s salary.

“All employees, including UAE nationals, will be able to make voluntary contributions to the plan through salary deduction if they wish, but this aspect is not mandatory,” he said.

Jacques Visser added that employees will not have the ability to opt in or out, however, they do have control over their investment strategy and can make a selection that best reflects their circumstances and objectives.

-waheedabbas@khaleejtimes.com


More news from Government