The UAE savings scheme provider, National Bonds, has introduced a pension programme primarily aimed at expatriate residents who work in the private sector. In a statement, National Bonds stated that the programme “aims to benefit companies with their employee retention initiatives as well as help them prepare ahead for the end-of-service financials.” Employers and National Bonds will collaborate closely on administering the money.
This year, the DIFC unveiled a programme allowing workers in Dubai Government agencies of all nationalities to contribute to their pension plans. It’s possible that the pension plans may expand and eventually replace the long-standing gratuity programmes managed by UAE companies.
Employees of registered corporates would benefit from The National Bonds’ “scheme, which is geared at 89% of the UAE’s population that are foreigners and will help them get a head start in retirement planning and build their financial resilience through the attractive competitive returns.”
Over 8 million foreigners now reside in the UAE, according to Mohammed Qasim Al Ali, CEO of National Bonds. With this groundbreaking project created exclusively for the commercial sector, we hope to help corporations with their staff retention strategy while enabling expats to invest in their future.
“The programme permits employers to make investments in their workers’ end-of-service accounts so they may receive higher returns on their gratuities. Few businesses do this since failing to invest collected assets eventually denies employees of these advantages.
How the Golden Pension Plan at National Bonds operates 1. Under the Golden Pension Scheme, National Bonds will oversee the funds directly from beginning to end for corporates. Based on demand from corporations, the firm has hired 8,000 people so far, but they anticipate this figure to increase dramatically over the next months.