Hezbollah sources say the target was an evacuated building that housed the group's media relations office
National Bonds has launched the first-of-its-kind Golden Pension Scheme in the UAE to ramp up its suite of financial planning solutions for nationals and residents.
The UAE’s leading Shariah-compliant savings and investment company said the pension scheme is developed in line with increasing demand from employers and employees.
As per the terms of the new proposition, employees have the flexibility to contribute as little as Dh100 on a monthly basis and earn a profit on the amount saved, which can be availed in addition to the earned gratuity provided by their organisation.
The scheme also aims to support organisations with their employee retention efforts as well as help them plan ahead for the end-of-service financials.
"The unique initiative aims to help corporates registered with National Bonds support their employees’ financial goals. The scheme, which is targeted towards 89 per cent of the UAE’s population that are expats, will help employees of registered corporates get a head start in retirement planning and strengthen their financial resilience through the attractive competitive returns being offered by National Bonds under this programme," National Bonds, which is owned by the Investment Corporation of Dubai, said in a statement on Tuesday.
Through National Bonds’ easy-to-use mobile application, employees will have visibility to their pension portfolio and can view their savings grow in real-time. Moreover, they can also be part of the National Bonds’ rich rewards programme of Dh35 million and are eligible for Life takaful cover provided by local Takaful Operators.
Mohammed Qasim Al Ali, group CEO of National Bonds said retirement planning is extremely important to ensure people stay financially stable and independent.
"Today, the UAE is home to over eight million expats. With this first-of-its-kind initiative designed especially for the private sector, we want to enable expats to invest in their future while supporting corporates with their employee retention strategy,” Ali said.
"In line with the vision of the leadership to make the UAE the preferred country of employment, the scheme enables companies to invest in their employees’ end-of-service funds so they can benefit from additional returns on their gratuity – Not many companies do this as accumulated funds are not being invested, which ultimately deprives the employees of these benefits," he said.
He said the visionary leadership of this country has always put their best foot forward in safeguarding and enabling people.
"Our aim is to contribute to their vision of building a nation of the future, where all citizens and residents are more financially empowered,” he added.
Key takeaways
• The new scheme will help corporates manage employee pension plans and help them kick start their retirement savings
• Golden Pension Scheme allow employees to benefit from the seamless digital platform and innovative and customizable plans to enhance savings
• Proposition targeted towards 89 per cent of the UAE’s population that are expats
• Employees have the flexibility to contribute as little as Dh100 on a monthly basis
• The pension scheme is developed in line with increasing demand from employers and employees
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