The new savings pension plan for foreign employees

The new savings pension plan for foreign employees
The new savings pension plan for foreign employees working in the Dubai government will take effect from July 1.

Reported by Financial centre, DIFC.

The goal is to protect the rights of employees and provide opportunities to boost benefits and savings.

The system will be in addition to gratuity scheme.

End-of-service gratuities are lump-sum payments that all employed residents are entitled to after one year of service.

The amount of remuneration depends on an employee’s length of service and their basic salary.

The scheme will contribute to strengthening Dubai’s position as a global financial centre.

Earlier, Dubai entered the TOP-15 best cities for retirees.

Source: The National News